The New York Times Company (NYSE:NYT) Short Interest Down 15.9% in April
by Teresa Graham · The Cerbat GemThe New York Times Company (NYSE:NYT – Get Free Report) was the target of a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 8,186,033 shares, a decrease of 15.9% from the March 31st total of 9,732,285 shares. Approximately 5.2% of the shares of the stock are short sold. Based on an average trading volume of 1,940,505 shares, the short-interest ratio is presently 4.2 days.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the company. Evercore restated an “outperform” rating on shares of New York Times in a report on Thursday, February 5th. JPMorgan Chase & Co. upped their target price on New York Times from $71.00 to $74.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Citigroup upped their target price on New York Times from $77.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Wall Street Zen lowered New York Times from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Guggenheim set a $63.00 target price on New York Times and gave the company a “neutral” rating in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, New York Times has an average rating of “Moderate Buy” and an average target price of $72.50.
Check Out Our Latest Stock Report on NYT
Insider Buying and Selling
In related news, CAO R Anthony Benten sold 1,913 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $73.57, for a total value of $140,739.41. Following the sale, the chief accounting officer owned 37,772 shares in the company, valued at $2,778,886.04. This represents a 4.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Arthur G. Sulzberger sold 13,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $79.95, for a total value of $1,039,350.00. Following the completion of the sale, the chairman owned 172,338 shares in the company, valued at approximately $13,778,423.10. This represents a 7.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,913 shares of company stock worth $2,214,369 in the last quarter. Company insiders own 1.90% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in NYT. Berkshire Hathaway Inc purchased a new position in shares of New York Times during the 4th quarter worth $351,664,000. Bank of Montreal Can lifted its stake in shares of New York Times by 10,018.3% during the 4th quarter. Bank of Montreal Can now owns 2,316,172 shares of the company’s stock worth $160,789,000 after purchasing an additional 2,293,281 shares during the period. AQR Capital Management LLC lifted its stake in shares of New York Times by 78.1% during the 2nd quarter. AQR Capital Management LLC now owns 4,187,888 shares of the company’s stock worth $233,265,000 after purchasing an additional 1,836,788 shares during the period. Egerton Capital UK LLP purchased a new position in shares of New York Times during the 4th quarter worth $97,882,000. Finally, Two Sigma Investments LP lifted its stake in shares of New York Times by 98.5% during the 3rd quarter. Two Sigma Investments LP now owns 2,055,628 shares of the company’s stock worth $117,993,000 after purchasing an additional 1,020,031 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.
New York Times Stock Up 1.0%
Shares of NYSE:NYT traded up $0.81 during trading on Friday, reaching $79.84. The stock had a trading volume of 512,542 shares, compared to its average volume of 2,237,551. The business has a fifty day moving average price of $80.90 and a 200-day moving average price of $71.40. The stock has a market cap of $12.87 billion, a P/E ratio of 38.26, a PEG ratio of 2.12 and a beta of 1.06. New York Times has a fifty-two week low of $51.03 and a fifty-two week high of $87.10.
New York Times (NYSE:NYT – Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. New York Times had a net margin of 12.18% and a return on equity of 20.73%. The business had revenue of $802.31 million during the quarter, compared to analyst estimates of $791.55 million. During the same quarter in the previous year, the business posted $0.80 earnings per share. The company’s revenue was up 10.4% on a year-over-year basis. As a group, equities analysts forecast that New York Times will post 2.79 EPS for the current year.
New York Times Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Wednesday, April 1st were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from New York Times’s previous quarterly dividend of $0.18. New York Times’s dividend payout ratio is currently 44.02%.
About New York Times
The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.
Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.