Macquarie Group Ltd. cut its holdings in shares of The New York Times Company (NYSE:NYT – Get Rating) by 5.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,770 shares of the company’s stock after selling 5,473 shares during the quarter. Macquarie Group Ltd. owned approximately 0.06% of New York Times worth $2,688,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. UBS Group AG increased its holdings in shares of New York Times by 34,889.2% in the 2nd quarter. UBS Group AG now owns 4,518,509 shares of the company’s stock valued at $126,066,000 after acquiring an additional 4,505,595 shares during the last quarter. ValueAct Holdings L.P. bought a new stake in shares of New York Times in the 2nd quarter valued at approximately $86,351,000. Stockbridge Partners LLC increased its holdings in shares of New York Times by 61.5% in the 1st quarter. Stockbridge Partners LLC now owns 6,490,990 shares of the company’s stock valued at $297,547,000 after acquiring an additional 2,470,866 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of New York Times by 31.9% in the 1st quarter. Wellington Management Group LLP now owns 5,741,738 shares of the company’s stock valued at $263,201,000 after acquiring an additional 1,389,189 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of New York Times by 242.8% in the 2nd quarter. Millennium Management LLC now owns 930,996 shares of the company’s stock valued at $25,975,000 after acquiring an additional 659,430 shares during the last quarter. 99.15% of the stock is currently owned by hedge funds and other institutional investors.
New York Times Price Performance
NYSE:NYT opened at $36.65 on Friday. The New York Times Company has a 12-month low of $27.58 and a 12-month high of $47.67. The firm has a market capitalization of $6.06 billion, a P/E ratio of 34.91 and a beta of 0.99. The business has a 50 day simple moving average of $36.53 and a 200 day simple moving average of $33.48.
New York Times Increases Dividend
New York Times announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 8th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to reacquire up to 3.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
Analysts Set New Price Targets
NYT has been the subject of a number of research analyst reports. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a report on Thursday, February 9th. TheStreet upgraded New York Times from a “c+” rating to a “b-” rating in a report on Monday, December 5th. Barclays upgraded New York Times from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $25.00 to $36.00 in a report on Thursday, February 9th. Finally, Morgan Stanley boosted their price objective on New York Times from $37.00 to $40.00 and gave the company an “equal weight” rating in a research report on Thursday, February 9th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $37.08.
Insider Activity at New York Times
In other New York Times news, CFO Roland A. Caputo sold 12,500 shares of the business’s stock in a transaction on Friday, February 10th. The stock was sold at an average price of $39.44, for a total transaction of $493,000.00. Following the completion of the transaction, the chief financial officer now owns 62,853 shares in the company, valued at approximately $2,478,922.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other New York Times news, CEO Levien Meredith A. Kopit sold 29,758 shares of the business’s stock in a transaction on Friday, February 17th. The stock was sold at an average price of $40.05, for a total transaction of $1,191,807.90. Following the completion of the transaction, the chief executive officer now owns 74,610 shares in the company, valued at approximately $2,988,130.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Roland A. Caputo sold 12,500 shares of the company’s stock in a transaction on Friday, February 10th. The shares were sold at an average price of $39.44, for a total value of $493,000.00. Following the completion of the sale, the chief financial officer now owns 62,853 shares of the company’s stock, valued at approximately $2,478,922.32. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
New York Times Company Profile
The New York Times Co is a media organization, which engages in creating, collecting, and distributing news and information. It offers news products and other interest-specific products, and related content and services. It offers newspapers, print, and digital products and investments. The firm also manages The New York Times, NYTimes.com, and mobile applications.
Read More
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