Dynamic Technology Lab Private Ltd Acquires 21,073 Shares of The New York Times Company (NYSE:NYT)

Dynamic Technology Lab Private Ltd grew its holdings in The New York Times Company (NYSE:NYT) by 47.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,640 shares of the company’s stock after buying an additional 21,073 shares during the quarter. New York Times accounts for 0.5% of Dynamic Technology Lab Private Ltd’s investment portfolio, making the stock its 7th largest position. Dynamic Technology Lab Private Ltd’s holdings in New York Times were worth $3,417,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Wells Fargo & Company MN raised its position in New York Times by 2.0% during the fourth quarter. Wells Fargo & Company MN now owns 184,338 shares of the company’s stock worth $9,595,000 after acquiring an additional 3,701 shares during the period. ExodusPoint Capital Management LP purchased a new stake in shares of New York Times during the fourth quarter worth about $8,356,000. Kesler Norman & Wride LLC raised its position in shares of New York Times by 44.8% during the 4th quarter. Kesler Norman & Wride LLC now owns 19,987 shares of the company’s stock worth $1,040,000 after purchasing an additional 6,181 shares during the last quarter. Trexquant Investment LP lifted its stake in New York Times by 149.4% in the 4th quarter. Trexquant Investment LP now owns 358,303 shares of the company’s stock valued at $18,650,000 after buying an additional 214,620 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in New York Times by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 4,035,335 shares of the company’s stock worth $210,084,000 after buying an additional 102,519 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

New York Times Price Performance

NYT stock opened at $47.54 on Friday. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $58.16. The firm has a market capitalization of $7.76 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18. The business has a 50 day simple moving average of $49.56 and a 200-day simple moving average of $52.57.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. On average, equities research analysts expect that The New York Times Company will post 2.08 EPS for the current year.

New York Times Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This is an increase from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 dividend on an annualized basis and a yield of 1.51%. New York Times’s payout ratio is 40.45%.

Wall Street Analyst Weigh In

A number of brokerages have commented on NYT. StockNews.com cut New York Times from a “buy” rating to a “hold” rating in a report on Thursday. Morgan Stanley reduced their price objective on New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, New York Times presently has an average rating of “Moderate Buy” and an average target price of $56.00.

New York Times Profile

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.