Versor Investments LP Sells 11,941 Shares of The New York Times Company (NYSE:NYT)

Versor Investments LP reduced its stake in shares of The New York Times Company (NYSE:NYT) by 41.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,172 shares of the company’s stock after selling 11,941 shares during the quarter. Versor Investments LP’s holdings in New York Times were worth $879,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NYT. Oak Family Advisors LLC boosted its stake in shares of New York Times by 2.2% during the 2nd quarter. Oak Family Advisors LLC now owns 10,685 shares of the company’s stock worth $547,000 after purchasing an additional 231 shares during the period. Capital Investment Counsel Inc grew its stake in shares of New York Times by 1.7% during the second quarter. Capital Investment Counsel Inc now owns 22,701 shares of the company’s stock valued at $1,163,000 after buying an additional 380 shares during the last quarter. Signaturefd LLC grew its stake in shares of New York Times by 34.2% during the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock valued at $87,000 after buying an additional 432 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of New York Times by 15.9% in the fourth quarter. Quadrant Capital Group LLC now owns 3,289 shares of the company’s stock worth $161,000 after buying an additional 451 shares during the period. Finally, Commonwealth Equity Services LLC lifted its stake in shares of New York Times by 3.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 17,222 shares of the company’s stock worth $744,000 after acquiring an additional 527 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on NYT shares. Evercore ISI increased their target price on New York Times from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. lifted their price objective on shares of New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, Barclays upped their target price on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.67.

New York Times Price Performance

NYSE:NYT opened at $54.93 on Tuesday. The firm has a market cap of $9.03 billion, a PE ratio of 36.62 and a beta of 1.06. The company has a 50-day moving average of $53.29 and a 200 day moving average of $48.36. The New York Times Company has a 1-year low of $39.73 and a 1-year high of $56.49.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. The firm had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $624.82 million. New York Times had a net margin of 10.81% and a return on equity of 17.45%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.38 EPS. Sell-side analysts anticipate that The New York Times Company will post 1.9 EPS for the current fiscal year.

New York Times Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $0.52 annualized dividend and a yield of 0.95%. New York Times’s dividend payout ratio (DPR) is presently 34.67%.

Insider Activity

In related news, CFO William Bardeen sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $54.56, for a total transaction of $109,120.00. Following the sale, the chief financial officer now owns 10,315 shares of the company’s stock, valued at $562,786.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other New York Times news, CFO William Bardeen sold 2,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $54.56, for a total transaction of $109,120.00. Following the completion of the sale, the chief financial officer now directly owns 10,315 shares of the company’s stock, valued at $562,786.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $53.92, for a total transaction of $986,736.00. Following the completion of the sale, the chief executive officer now owns 101,772 shares in the company, valued at $5,487,546.24. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

About New York Times

The New York Times Company, together with its subsidiaries, creates, collects, and distributes news and information worldwide. The company operates through two segments, The New York Times Group and The Athletic. It offers The New York Times (The Times) through company's mobile application, website, printed newspaper, and associated content, such as podcast.