Short Interest in The New York Times Company (NYSE:NYT) Rises By 26.7%

The New York Times Company (NYSE:NYT) was the recipient of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 5,220,000 shares, an increase of 26.7% from the October 31st total of 4,120,000 shares. Based on an average daily volume of 1,030,000 shares, the days-to-cover ratio is currently 5.1 days. Approximately 3.3% of the company’s shares are short sold.

Hedge Funds Weigh In On New York Times

Several institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. grew its position in shares of New York Times by 1.5% in the 3rd quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock valued at $187,544,000 after purchasing an additional 49,853 shares during the period. Tidal Investments LLC grew its position in shares of New York Times by 17.4% in the 3rd quarter. Tidal Investments LLC now owns 20,715 shares of the company’s stock valued at $1,153,000 after purchasing an additional 3,071 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of New York Times in the 3rd quarter valued at approximately $278,000. Coldstream Capital Management Inc. grew its position in shares of New York Times by 4.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,666 shares of the company’s stock valued at $260,000 after purchasing an additional 193 shares during the period. Finally, Synergy Financial Group LTD bought a new stake in New York Times in the 3rd quarter valued at approximately $217,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

New York Times Price Performance

Shares of New York Times stock traded down $0.08 during trading on Monday, hitting $54.18. 1,116,000 shares of the company were exchanged, compared to its average volume of 1,129,716. The firm has a market capitalization of $8.88 billion, a P/E ratio of 32.06, a price-to-earnings-growth ratio of 1.72 and a beta of 1.02. New York Times has a 1-year low of $41.55 and a 1-year high of $57.08. The firm’s fifty day moving average price is $54.80 and its 200 day moving average price is $53.31.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The business had revenue of $640.20 million during the quarter, compared to analyst estimates of $641.00 million. During the same period in the previous year, the firm earned $0.37 EPS. New York Times’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, equities research analysts anticipate that New York Times will post 1.84 earnings per share for the current year.

New York Times Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a $0.13 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.96%. New York Times’s dividend payout ratio is presently 30.77%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their target price on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Barclays boosted their target price on New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $54.83.

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.