Insider Selling: The New York Times Company (NYSE:NYT) Director Sells 1,332 Shares of Stock

The New York Times Company (NYSE:NYT) Director David S. Perpich sold 1,332 shares of The New York Times stock in a transaction that occurred on Thursday, February 18th. The stock was sold at an average price of $48.93, for a total transaction of $65,174.76. Following the completion of the transaction, the director now directly owns 18,398 shares in the company, valued at $900,214.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

NYSE NYT opened at $51.74 on Tuesday. The New York Times Company has a fifty-two week low of $26.13 and a fifty-two week high of $58.73. The stock’s 50-day moving average is $49.73 and its two-hundred day moving average is $45.53. The firm has a market cap of $8.65 billion, a P/E ratio of 54.46 and a beta of 0.82.

The New York Times (NYSE:NYT) last released its earnings results on Thursday, February 4th. The company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.01. The firm had revenue of $509.36 million during the quarter, compared to analyst estimates of $502.74 million. The New York Times had a net margin of 8.88% and a return on equity of 13.73%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 EPS. On average, analysts forecast that The New York Times Company will post 0.95 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 22nd. Investors of record on Wednesday, April 7th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, April 6th. This is an increase from The New York Times’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 0.54%. The New York Times’s dividend payout ratio (DPR) is 26.09%.

NYT has been the topic of several research reports. Evercore ISI raised The New York Times from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $45.00 to $48.00 in a research report on Monday, November 9th. Morgan Stanley increased their price objective on The New York Times from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, February 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $46.29.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Crossmark Global Holdings Inc. increased its holdings in The New York Times by 13.0% during the 4th quarter. Crossmark Global Holdings Inc. now owns 13,071 shares of the company’s stock valued at $677,000 after purchasing an additional 1,500 shares in the last quarter. California State Teachers Retirement System increased its position in The New York Times by 4.9% in the 3rd quarter. California State Teachers Retirement System now owns 287,224 shares of the company’s stock valued at $12,290,000 after acquiring an additional 13,358 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of The New York Times by 368.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 81,835 shares of the company’s stock worth $4,237,000 after acquiring an additional 64,350 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of The New York Times by 29.4% during the third quarter. Parallel Advisors LLC now owns 1,823 shares of the company’s stock worth $78,000 after purchasing an additional 414 shares in the last quarter. Finally, JJJ Advisors Inc. grew its stake in shares of The New York Times by 406.5% during the fourth quarter. JJJ Advisors Inc. now owns 780 shares of the company’s stock valued at $40,000 after purchasing an additional 626 shares during the last quarter. Hedge funds and other institutional investors own 93.41% of the company’s stock.

The 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. 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.

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