The New York Times Company $NYT Shares Acquired by Mattson Financial Services LLC

Mattson Financial Services LLC lifted its holdings in shares of The New York Times Company (NYSE:NYT) by 3.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 19,246 shares of the company’s stock after buying an additional 673 shares during the quarter. Mattson Financial Services LLC’s holdings in New York Times were worth $955,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Covestor Ltd boosted its stake in shares of New York Times by 7.9% during the first quarter. Covestor Ltd now owns 2,849 shares of the company’s stock worth $141,000 after buying an additional 208 shares during the period. Valueworks LLC lifted its position in New York Times by 0.3% in the first quarter. Valueworks LLC now owns 88,939 shares of the company’s stock valued at $4,411,000 after purchasing an additional 278 shares during the period. Snowden Capital Advisors LLC lifted its position in New York Times by 2.1% in the fourth quarter. Snowden Capital Advisors LLC now owns 14,648 shares of the company’s stock valued at $762,000 after purchasing an additional 307 shares during the period. Nia Impact Advisors LLC lifted its position in New York Times by 1.6% in the fourth quarter. Nia Impact Advisors LLC now owns 25,687 shares of the company’s stock valued at $1,337,000 after purchasing an additional 400 shares during the period. Finally, State of Michigan Retirement System lifted its position in New York Times by 1.0% in the first quarter. State of Michigan Retirement System now owns 39,016 shares of the company’s stock valued at $1,935,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Buying and Selling at New York Times

In related news, EVP William Bardeen sold 5,000 shares of New York Times stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total transaction of $290,200.00. Following the transaction, the executive vice president owned 11,243 shares in the company, valued at approximately $652,543.72. The trade was a 30.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jacqueline M. Welch sold 5,500 shares of New York Times stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $60.04, for a total transaction of $330,220.00. Following the transaction, the executive vice president owned 14,470 shares in the company, valued at $868,778.80. The trade was a 27.54% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

New York Times Price Performance

Shares of NYT opened at $57.59 on Thursday. The firm has a 50 day simple moving average of $56.82 and a 200-day simple moving average of $53.45. The New York Times Company has a 1-year low of $44.83 and a 1-year high of $62.24. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 1.47 and a beta of 1.16.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The business had revenue of $685.90 million during the quarter, compared to analysts’ expectations of $670.22 million. New York Times had a net margin of 11.92% and a return on equity of 19.55%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the company posted $0.45 EPS. On average, equities analysts expect that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Wednesday, July 9th were issued a dividend of $0.18 per share. The ex-dividend date was Wednesday, July 9th. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. New York Times’s payout ratio is presently 37.11%.

Analyst Upgrades and Downgrades

NYT has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective on shares of New York Times from $60.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Guggenheim raised their price objective on shares of New York Times from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Zacks Research downgraded shares of New York Times from a “strong-buy” rating to a “hold” rating in a research report on Monday. Barclays set a $52.00 price target on shares of New York Times and gave the company an “equal weight” rating in a research report on Thursday, August 7th. Finally, Citigroup reiterated a “buy” rating on shares of New York Times in a research report on Thursday, June 12th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, New York Times presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.33.

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.