Quinn Opportunity Partners LLC Has $28.96 Million Position in The New York Times Company $NYT

Quinn Opportunity Partners LLC cut its holdings in shares of The New York Times Company (NYSE:NYT) by 2.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 517,282 shares of the company’s stock after selling 12,778 shares during the period. New York Times accounts for 2.4% of Quinn Opportunity Partners LLC’s holdings, making the stock its 6th biggest holding. Quinn Opportunity Partners LLC’s holdings in New York Times were worth $28,957,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NYT. Robeco Institutional Asset Management B.V. raised its position in shares of New York Times by 49.9% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 195,724 shares of the company’s stock worth $10,957,000 after acquiring an additional 65,175 shares in the last quarter. First Citizens Bank & Trust Co. boosted its position in New York Times by 264.0% during the second quarter. First Citizens Bank & Trust Co. now owns 16,951 shares of the company’s stock valued at $949,000 after purchasing an additional 12,294 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in New York Times by 154.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 64,522 shares of the company’s stock valued at $3,685,000 after purchasing an additional 39,149 shares during the last quarter. Element Capital Management LLC bought a new position in New York Times in the first quarter worth about $2,742,000. Finally, Harbor Capital Advisors Inc. raised its holdings in New York Times by 29.2% in the second quarter. Harbor Capital Advisors Inc. now owns 30,808 shares of the company’s stock worth $1,725,000 after purchasing an additional 6,957 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

NYT has been the subject of several recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of New York Times in a research note on Wednesday, October 8th. Morgan Stanley raised their price target on shares of New York Times from $59.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. JPMorgan Chase & Co. upped their price objective on shares of New York Times from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Barclays increased their target price on shares of New York Times from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 6th. Finally, UBS Group set a $62.00 price target on New York Times in a research note on Thursday, November 6th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.17.

Insider Buying and Selling

In related news, EVP Jacqueline M. Welch sold 5,500 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $60.04, for a total transaction of $330,220.00. Following the completion of the transaction, the executive vice president directly owned 14,470 shares in the company, valued at $868,778.80. This trade represents a 27.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.90% of the stock is owned by company insiders.

New York Times Trading Up 0.7%

Shares of NYT stock opened at $63.02 on Wednesday. The company’s 50-day moving average price is $57.47 and its 200-day moving average price is $56.29. The New York Times Company has a twelve month low of $44.83 and a twelve month high of $63.30. The stock has a market cap of $10.26 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 1.41 and a beta of 1.14.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The firm had revenue of $700.82 million for the quarter, compared to analysts’ expectations of $692.01 million. During the same period in the prior year, the firm posted $0.45 earnings per share. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, equities research analysts predict that The New York Times Company will post 2.08 EPS for the current year.

New York Times Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 23rd. Stockholders of record on Wednesday, October 8th were paid a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, October 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. New York Times’s payout ratio is presently 35.12%.

About New York Times

The New York Times Company, together with its subsidiaries, creates, collects, and distributes news and information worldwide. The company operates through two segments, The New York Times Group and The Athletic. It offers The New York Times (The Times) through company’s mobile application, website, printed newspaper, and associated content, such as podcast.