Granite Investment Partners LLC Acquires 203,314 Shares of New York Times Company (The) (NYT)

Granite Investment Partners LLC raised its stake in New York Times Company (The) (NYSE:NYT) by 25.5% during the second quarter, Holdings Channel reports. The firm owned 1,001,235 shares of the company’s stock after buying an additional 203,314 shares during the period. New York Times Company (The) makes up 1.2% of Granite Investment Partners LLC’s portfolio, making the stock its 9th largest position. Granite Investment Partners LLC’s holdings in New York Times Company (The) were worth $17,721,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in NYT. BlackRock Inc. increased its stake in New York Times Company (The) by 16,731.5% in the first quarter. BlackRock Inc. now owns 12,681,224 shares of the company’s stock valued at $182,610,000 after buying an additional 12,605,882 shares during the period. Norges Bank purchased a new stake in New York Times Company (The) during the fourth quarter valued at $19,709,000. Acadian Asset Management LLC increased its stake in New York Times Company (The) by 382.6% in the second quarter. Acadian Asset Management LLC now owns 1,776,811 shares of the company’s stock valued at $31,447,000 after buying an additional 1,408,666 shares during the last quarter. FMR LLC purchased a new stake in New York Times Company (The) during the first quarter valued at $12,790,000. Finally, Point72 Asset Management L.P. purchased a new stake in New York Times Company (The) during the first quarter valued at $5,111,000. Institutional investors and hedge funds own 64.15% of the company’s stock.

Shares of New York Times Company (NYT) opened at 18.85 on Thursday. New York Times Company has a 12-month low of $10.60 and a 12-month high of $20.15. The company has a 50 day moving average price of $18.14 and a 200 day moving average price of $16.12. The company has a market capitalization of $3.05 billion, a P/E ratio of 47.96 and a beta of 1.81.

New York Times Company (The) (NYSE:NYT) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.05. New York Times Company (The) had a return on equity of 12.76% and a net margin of 4.12%. The firm had revenue of $407.10 million during the quarter, compared to the consensus estimate of $393.07 million. During the same quarter in the previous year, the business earned $0.11 earnings per share. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts anticipate that New York Times Company will post $0.71 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, July 27th. Shareholders of record on Wednesday, July 12th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Monday, July 10th. New York Times Company (The)’s dividend payout ratio (DPR) is presently 40.00%.

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NYT has been the subject of several recent research reports. Jefferies Group LLC lifted their price objective on New York Times Company (The) from $12.00 to $15.00 and gave the company a “hold” rating in a report on Thursday, May 4th. Zacks Investment Research upgraded New York Times Company (The) from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Friday, May 5th. Finally, Barclays PLC lifted their price objective on New York Times Company (The) from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. New York Times Company (The) currently has an average rating of “Hold” and an average target price of $15.20.

In other New York Times Company (The) news, SVP R Anthony Benten sold 13,200 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $17.59, for a total transaction of $232,188.00. Following the completion of the sale, the senior vice president now owns 49,376 shares of the company’s stock, valued at $868,523.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Carso S.A. De C.V. Inversora sold 521,500 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $19.27, for a total value of $10,049,305.00. Following the sale, the insider now directly owns 19,353,000 shares of the company’s stock, valued at approximately $372,932,310. The disclosure for this sale can be found here. 5.70% of the stock is currently owned by insiders.

About New York Times Company (The)

The New York Times Company is a media company focused on creating, collecting and distributing news and information. The Company’s principal business consists of distributing content generated by its newsroom through its print, Web and mobile platforms. In addition, it distributes selected content on third-party platforms.

Want to see what other hedge funds are holding NYT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New York Times Company (The) (NYSE:NYT).

Institutional Ownership by Quarter for New York Times Company (The) (NYSE:NYT)

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