HGI Capital Management LLC Makes New Investment in New York Times Co (NYSE:NYT)

HGI Capital Management LLC purchased a new stake in New York Times Co (NYSE:NYT) in the second quarter, according to its most recent filing with the SEC. The fund purchased 10,500 shares of the company’s stock, valued at approximately $343,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James & Associates boosted its position in shares of New York Times by 79.4% during the fourth quarter. Raymond James & Associates now owns 21,412 shares of the company’s stock worth $477,000 after acquiring an additional 9,478 shares during the last quarter. Two Sigma Advisers LP boosted its position in shares of New York Times by 171.1% during the fourth quarter. Two Sigma Advisers LP now owns 87,300 shares of the company’s stock worth $1,946,000 after acquiring an additional 55,100 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in shares of New York Times by 48.3% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 39,308 shares of the company’s stock worth $877,000 after acquiring an additional 12,800 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of New York Times by 6.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 35,854 shares of the company’s stock worth $799,000 after acquiring an additional 2,130 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of New York Times by 2.7% during the fourth quarter. Legal & General Group Plc now owns 141,063 shares of the company’s stock worth $3,144,000 after acquiring an additional 3,726 shares during the last quarter. Institutional investors and hedge funds own 93.90% of the company’s stock.

Several equities analysts have commented on NYT shares. Zacks Investment Research upgraded shares of New York Times from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective for the company in a research report on Monday, May 13th. ValuEngine lowered shares of New York Times from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $32.50.

NYT stock traded down $0.38 during trading on Tuesday, hitting $34.89. 54,006 shares of the company’s stock traded hands, compared to its average volume of 1,280,301. New York Times Co has a 52 week low of $21.34 and a 52 week high of $36.25. The firm has a fifty day simple moving average of $34.48. The firm has a market capitalization of $5.86 billion, a PE ratio of 43.07 and a beta of 1.12.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.08. New York Times had a net margin of 7.55% and a return on equity of 13.76%. The business had revenue of $439.10 million during the quarter, compared to analyst estimates of $433.92 million. During the same quarter last year, the business earned $0.17 earnings per share. New York Times’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate that New York Times Co will post 0.86 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Wednesday, July 10th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, July 9th. This represents a $0.20 annualized dividend and a yield of 0.57%. New York Times’s dividend payout ratio (DPR) is currently 24.69%.

In other news, SVP R Anthony Benten sold 9,815 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $34.24, for a total value of $336,065.60. Following the completion of the sale, the senior vice president now owns 36,010 shares in the company, valued at approximately $1,232,982.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Thompson sold 45,000 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $34.27, for a total transaction of $1,542,150.00. Following the completion of the sale, the chief executive officer now owns 384,247 shares of the company’s stock, valued at approximately $13,168,144.69. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.

New York Times Company Profile

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. The company offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.

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Institutional Ownership by Quarter for New York Times (NYSE:NYT)

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