BlackDiamond Wealth Management LLC Lowers Stock Position in The New York Times Company (NYSE:NYT)

BlackDiamond Wealth Management LLC reduced its stake in The New York Times Company (NYSE:NYT) by 10.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,910 shares of the company’s stock after selling 1,206 shares during the quarter. BlackDiamond Wealth Management LLC’s holdings in New York Times were worth $516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of NYT. UMB Bank n.a. raised its stake in shares of New York Times by 61.4% during the fourth quarter. UMB Bank n.a. now owns 744 shares of the company’s stock worth $39,000 after acquiring an additional 283 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of New York Times by 27.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock valued at $60,000 after buying an additional 247 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of New York Times by 20.2% during the 4th quarter. GAMMA Investing LLC now owns 2,526 shares of the company’s stock valued at $131,000 after buying an additional 424 shares in the last quarter. Portfolio Design Labs LLC bought a new stake in shares of New York Times during the 4th quarter valued at $202,000. Finally, Synergy Financial Group LTD bought a new position in New York Times in the 3rd quarter worth about $217,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NYT. Morgan Stanley dropped their price target on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, New York Times presently has a consensus rating of “Moderate Buy” and an average price target of $56.00.

New York Times Trading Down 0.8 %

NYSE:NYT opened at $48.51 on Tuesday. The New York Times Company has a twelve month low of $41.55 and a twelve month high of $58.16. The company has a market cap of $7.92 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18. The stock has a fifty day simple moving average of $50.44 and a 200-day simple moving average of $53.01.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 earnings per share 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%. As a group, equities research analysts predict that The New York Times Company will post 2.08 EPS for the current fiscal year.

New York Times Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.18 per share. This is a positive change from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.48%. New York Times’s payout ratio is presently 40.45%.

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.