Bayforest Capital Ltd Buys 8,044 Shares of The New York Times Company (NYSE:NYT)

Bayforest Capital Ltd boosted its stake in The New York Times Company (NYSE:NYT) by 432.7% during the 1st quarter, HoldingsChannel reports. The fund owned 9,903 shares of the company’s stock after acquiring an additional 8,044 shares during the quarter. Bayforest Capital Ltd’s holdings in New York Times were worth $491,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Allianz Asset Management GmbH lifted its position in New York Times by 210.7% during the 1st quarter. Allianz Asset Management GmbH now owns 1,609,513 shares of the company’s stock worth $79,832,000 after buying an additional 1,091,430 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of New York Times by 210.5% in the 4th quarter. Squarepoint Ops LLC now owns 1,382,695 shares of the company’s stock valued at $71,969,000 after purchasing an additional 937,354 shares during the period. Millennium Management LLC raised its holdings in shares of New York Times by 133.6% in the 4th quarter. Millennium Management LLC now owns 1,559,837 shares of the company’s stock valued at $81,190,000 after purchasing an additional 892,155 shares during the period. Alliancebernstein L.P. raised its holdings in shares of New York Times by 87.6% in the 4th quarter. Alliancebernstein L.P. now owns 1,908,477 shares of the company’s stock valued at $99,336,000 after purchasing an additional 891,249 shares during the period. Finally, Darsana Capital Partners LP raised its holdings in shares of New York Times by 15.0% in the 4th quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company’s stock valued at $299,288,000 after purchasing an additional 750,000 shares during the period. 95.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of New York Times from a “hold” rating to a “buy” rating in a report on Friday, April 11th. Guggenheim upped their price target on shares of New York Times from $53.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, June 2nd. Finally, Citigroup reiterated a “buy” rating on shares of New York Times in a research note on Thursday, June 12th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.40.

Insider Activity at New York Times

In related news, CAO R Anthony Benten sold 1,990 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $56.75, for a total value of $112,932.50. Following the completion of the transaction, the chief accounting officer owned 39,685 shares of the company’s stock, valued at $2,252,123.75. This represents a 4.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP William Bardeen sold 2,500 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $56.83, for a total transaction of $142,075.00. Following the completion of the transaction, the executive vice president directly owned 16,727 shares of the company’s stock, valued at approximately $950,595.41. The trade was a 13.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,490 shares of company stock valued at $479,728 in the last quarter. Insiders own 1.90% of the company’s stock.

New York Times Trading Down 1.1%

NYSE NYT opened at $51.44 on Thursday. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 27.96, a P/E/G ratio of 1.42 and a beta of 1.11. The firm’s 50 day simple moving average is $55.08 and its 200 day simple moving average is $52.03. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $58.16.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06. The business had revenue of $635.91 million for the quarter, compared to analyst estimates of $634.99 million. New York Times had a net margin of 11.53% and a return on equity of 18.70%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. On average, equities research analysts forecast that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Wednesday, July 9th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.40%. The ex-dividend date was Wednesday, July 9th. New York Times’s payout ratio is 39.13%.

New York Times Profile

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.