Acadian Asset Management LLC Has $1.83 Million Stock Holdings in The New York Times Company (NYSE:NYT)

Posted by Defense World Staff on Sep 3rd, 2023

Acadian Asset Management LLC lifted its holdings in shares of The New York Times Company (NYSE:NYT – Free Report) by 538.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,047 shares of the company’s stock after buying an additional 39,683 shares during the period. Acadian Asset Management LLC’s holdings in New York Times were worth $1,826,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Achmea Investment Management B.V. acquired a new position in shares of New York Times during the 1st quarter worth about $1,255,000. Texas Permanent School Fund Corp lifted its stake in New York Times by 33.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 147,647 shares of the company’s stock valued at $5,741,000 after purchasing an additional 36,963 shares during the last quarter. SG Americas Securities LLC lifted its stake in New York Times by 29.9% in the 1st quarter. SG Americas Securities LLC now owns 83,186 shares of the company’s stock valued at $3,234,000 after purchasing an additional 19,154 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in New York Times in the 1st quarter valued at about $708,000. Finally, Procyon Advisors LLC acquired a new stake in New York Times in the 1st quarter valued at about $202,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at New York Times

In related news, CAO R Anthony Benten sold 8,401 shares of New York Times stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $44.30, for a total value of $372,164.30. Following the transaction, the chief accounting officer now directly owns 41,575 shares of the company’s stock, valued at $1,841,772.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO R Anthony Benten sold 8,401 shares of New York Times stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $44.30, for a total value of $372,164.30. Following the transaction, the chief accounting officer now directly owns 41,575 shares of the company’s stock, valued at $1,841,772.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Arthur G. Sulzberger sold 8,500 shares of New York Times stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $44.23, for a total transaction of $375,955.00. Following the completion of the transaction, the chairman now directly owns 101,691 shares in the company, valued at $4,497,792.93. The disclosure for this sale can be found here. Insiders have sold 50,689 shares of company stock valued at $2,233,298 over the last three months. 2.00% of the stock is owned by insiders.

New York Times Trading Up 0.0 %

Shares of NYT opened at $44.29 on Friday. The New York Times Company has a 12 month low of $27.58 and a 12 month high of $45.30. The firm’s 50 day moving average is $41.55 and its 200-day moving average is $39.27. The stock has a market capitalization of $7.28 billion, a PE ratio of 41.78 and a beta of 1.02.

New York Times (NYSE:NYT – Get Free Report) last announced its earnings results on Tuesday, August 8th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.21 by $0.17. New York Times had a net margin of 7.45% and a return on equity of 14.81%. The company had revenue of $590.85 million for the quarter, compared to analysts’ expectations of $580.56 million. During the same period last year, the firm earned $0.24 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts predict that The New York Times Company will post 1.48 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 27th. Investors of record on Tuesday, July 11th were paid a $0.11 dividend. The ex-dividend date was Monday, July 10th. This represents a $0.44 dividend on an annualized basis and a yield of 0.99%. New York Times’s dividend payout ratio (DPR) is 41.51%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NYT shares. Barclays raised their target price on shares of New York Times from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 9th. Guggenheim increased their price target on shares of New York Times from $37.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, August 10th. StockNews.com cut shares of New York Times from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. JPMorgan Chase & Co. increased their price target on shares of New York Times from $41.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, August 9th. Finally, Morgan Stanley increased their price target on shares of New York Times from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday, August 9th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $42.00.

Get Our Latest Stock Analysis on NYT

New York Times Company Profile

(Free Report)

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. It 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.