Assenagon Asset Management S.A. Makes New Investment in New York Times Co (NYSE:NYT)

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Assenagon Asset Management S.A. bought a new position in shares of New York Times Co (NYSE:NYT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,417 shares of the company’s stock, valued at approximately $270,000.

A number of other hedge funds have also bought and sold shares of NYT. Fifth Third Bancorp grew its stake in New York Times by 16.2% in the first quarter. Fifth Third Bancorp now owns 3,465 shares of the company’s stock worth $106,000 after purchasing an additional 483 shares in the last quarter. Douglass Winthrop Advisors LLC grew its stake in New York Times by 3.5% in the first quarter. Douglass Winthrop Advisors LLC now owns 15,776 shares of the company’s stock worth $484,000 after purchasing an additional 536 shares in the last quarter. Private Capital Group LLC grew its stake in New York Times by 19.6% in the first quarter. Private Capital Group LLC now owns 3,320 shares of the company’s stock worth $102,000 after purchasing an additional 543 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in New York Times by 6.1% in the first quarter. PNC Financial Services Group Inc. now owns 10,313 shares of the company’s stock worth $317,000 after purchasing an additional 594 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in New York Times by 90.1% in the second quarter. Parallel Advisors LLC now owns 1,409 shares of the company’s stock worth $59,000 after purchasing an additional 668 shares in the last quarter. 95.22% of the stock is owned by institutional investors.

A number of equities analysts have issued reports on NYT shares. Barclays reissued a “sell” rating and issued a $20.00 target price on shares of New York Times in a report on Friday, April 17th. JPMorgan Chase & Co. raised their target price on shares of New York Times from $42.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, June 15th. Finally, Cfra raised shares of New York Times from a “hold” rating to a “buy” rating and cut their target price for the stock from $40.00 to $38.00 in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. New York Times has an average rating of “Hold” and an average target price of $34.25.

NYT opened at $46.14 on Friday. The business’s 50 day moving average is $42.98 and its 200-day moving average is $36.71. The stock has a market cap of $7.69 billion, a PE ratio of 53.65 and a beta of 0.92. New York Times Co has a twelve month low of $26.13 and a twelve month high of $46.34.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.04. The company had revenue of $443.60 million for the quarter, compared to analysts’ expectations of $438.88 million. New York Times had a return on equity of 12.98% and a net margin of 7.85%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 earnings per share. On average, equities analysts forecast that New York Times Co will post 0.75 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Friday, July 10th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.52%. New York Times’s dividend payout ratio (DPR) is presently 26.09%.

New York Times Profile

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. The company offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.

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

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