Bayesian Capital Management LP Makes New Investment in The New York Times Company (NYSE:NYT)

Bayesian Capital Management LP purchased a new position in The New York Times Company (NYSE:NYT) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 26,406 shares of the company’s stock, valued at approximately $1,141,000.

Several other institutional investors and hedge funds have also made changes to their positions in NYT. Hall Laurie J Trustee raised its stake in New York Times by 0.6% in the 1st quarter. Hall Laurie J Trustee now owns 74,860 shares of the company’s stock valued at $3,236,000 after purchasing an additional 410 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of New York Times by 15.9% during the fourth quarter. Quadrant Capital Group LLC now owns 3,289 shares of the company’s stock valued at $161,000 after buying an additional 451 shares during the period. Commonwealth Equity Services LLC boosted its position in New York Times by 3.2% during the first 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. Confluence Wealth Services Inc. grew its stake in New York Times by 3.2% in the 1st quarter. Confluence Wealth Services Inc. now owns 17,146 shares of the company’s stock worth $741,000 after acquiring an additional 538 shares during the period. Finally, QRG Capital Management Inc. raised its holdings in New York Times by 6.1% in the 4th quarter. QRG Capital Management Inc. now owns 10,499 shares of the company’s stock valued at $514,000 after acquiring an additional 600 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Levien Meredith A. Kopit sold 12,548 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $47.72, for a total transaction of $598,790.56. Following the completion of the sale, the chief executive officer now directly owns 120,072 shares of the company’s stock, valued at approximately $5,729,835.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Levien Meredith A. Kopit sold 12,548 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $47.72, for a total transaction of $598,790.56. Following the transaction, the chief executive officer now directly owns 120,072 shares of the company’s stock, valued at approximately $5,729,835.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO R Anthony Benten sold 5,171 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $48.98, for a total value of $253,275.58. Following the completion of the transaction, the chief accounting officer now owns 38,576 shares of the company’s stock, valued at approximately $1,889,452.48. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Evercore ISI raised their price objective on New York Times from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, New York Times currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.71.

New York Times Stock Down 0.5 %

Shares of NYSE NYT opened at $53.16 on Wednesday. The stock has a market capitalization of $8.73 billion, a PE ratio of 35.61 and a beta of 1.06. The firm has a fifty day moving average of $51.50 and a 200-day moving average of $47.27. The New York Times Company has a 52-week low of $39.73 and a 52-week high of $55.63.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.20 by $0.11. New York Times had a return on equity of 17.33% and a net margin of 10.19%. The company had revenue of $594.00 million during the quarter, compared to analyst estimates of $591.97 million. During the same period in the prior year, the firm posted $0.19 earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. Equities research analysts expect that The New York Times Company will post 1.77 EPS for the current fiscal year.

New York Times Dividend Announcement

The firm also recently declared 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 was Tuesday, July 9th. This represents a $0.52 dividend on an annualized basis and a yield of 0.98%. New York Times’s dividend payout ratio (DPR) is 34.67%.

New York Times Company 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.