Lecap Asset Management Ltd. Has $1.26 Million Holdings in The New York Times Company (NYSE:NYT)

Lecap Asset Management Ltd. trimmed its position in The New York Times Company (NYSE:NYT) by 41.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,681 shares of the company’s stock after selling 17,758 shares during the quarter. Lecap Asset Management Ltd.’s holdings in New York Times were worth $1,264,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NYT. International Assets Investment Management LLC lifted its holdings in shares of New York Times by 1,322.3% during the 4th quarter. International Assets Investment Management LLC now owns 22,046 shares of the company’s stock worth $1,080,000 after acquiring an additional 20,496 shares during the period. Cerity Partners LLC bought a new position in New York Times during the fourth quarter worth about $251,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in New York Times by 11.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,343 shares of the company’s stock valued at $1,633,000 after purchasing an additional 3,354 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in shares of New York Times by 8.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 29,701 shares of the company’s stock valued at $1,455,000 after purchasing an additional 2,281 shares during the period. Finally, GAMMA Investing LLC acquired a new position in shares of New York Times in the 4th quarter worth approximately $31,000. 95.37% of the stock is owned by institutional investors.

New York Times Price Performance

Shares of NYSE:NYT traded up $0.41 during midday trading on Wednesday, reaching $55.09. The company’s stock had a trading volume of 507,600 shares, compared to its average volume of 1,184,581. The business’s fifty day simple moving average is $52.61 and its 200-day simple moving average is $47.86. The New York Times Company has a fifty-two week low of $39.73 and a fifty-two week high of $56.49. The company has a market capitalization of $9.05 billion, a P/E ratio of 36.73 and a beta of 1.06.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.04. New York Times had a net margin of 10.19% and a return on equity of 17.33%. The firm had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $624.82 million. During the same quarter last year, the company posted $0.38 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, analysts forecast that The New York Times Company will post 1.77 earnings per share for the current fiscal year.

New York Times Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Tuesday, July 9th. New York Times’s dividend payout ratio (DPR) is presently 34.67%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, CFO William Bardeen sold 2,000 shares of New York Times stock in a transaction on Friday, August 9th. The stock was sold at an average price of $54.56, for a total value 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 approximately $562,786.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Levien Meredith A. Kopit sold 18,300 shares of the business’s stock in a transaction that occurred on 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 directly owns 101,772 shares of the company’s stock, valued at $5,487,546.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO William Bardeen sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 10,315 shares in the company, valued at $562,786.40. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

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.