Insider Selling: New York Times Co (NYT) Director Sells 3,166 Shares of Stock

New York Times Co (NYSE:NYT) Director Robert E. Denham sold 3,166 shares of New York Times stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.12, for a total transaction of $79,529.92. Following the completion of the transaction, the director now directly owns 39,842 shares in the company, valued at $1,000,831.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of New York Times Co (NYSE:NYT) traded up $0.12 on Thursday, hitting $25.12. 1,090,928 shares of the stock were exchanged, compared to its average volume of 2,772,364. The stock has a market capitalization of $4,094.46, a price-to-earnings ratio of 1,250.00, a PEG ratio of 2.23 and a beta of 1.86. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.27. New York Times Co has a 12-month low of $14.08 and a 12-month high of $25.70.

New York Times (NYSE:NYT) last posted its earnings results on Thursday, February 8th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.09. The company had revenue of $484.00 million during the quarter, compared to the consensus estimate of $467.30 million. New York Times had a net margin of 0.26% and a return on equity of 14.89%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 earnings per share. equities research analysts forecast that New York Times Co will post 0.87 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 19th. Investors of record on Wednesday, April 4th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.64%. New York Times’s dividend payout ratio is presently 800.00%.

Several equities analysts have issued reports on NYT shares. Zacks Investment Research raised shares of New York Times from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Friday, November 3rd. Barclays set a $20.00 price target on shares of New York Times and gave the stock a “hold” rating in a report on Sunday, February 11th. Finally, ValuEngine lowered shares of New York Times from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Four analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and a consensus target price of $21.33.

A number of hedge funds and other institutional investors have recently bought and sold shares of NYT. Wells Fargo & Company MN lifted its position in New York Times by 9.0% during the second quarter. Wells Fargo & Company MN now owns 101,181 shares of the company’s stock valued at $1,791,000 after purchasing an additional 8,322 shares during the period. PNC Financial Services Group Inc. lifted its position in New York Times by 6.9% during the second quarter. PNC Financial Services Group Inc. now owns 6,635 shares of the company’s stock valued at $118,000 after purchasing an additional 429 shares during the period. Voya Investment Management LLC lifted its position in New York Times by 9.3% during the second quarter. Voya Investment Management LLC now owns 57,546 shares of the company’s stock valued at $1,019,000 after purchasing an additional 4,893 shares during the period. Royal Bank of Canada lifted its position in New York Times by 65.7% during the second quarter. Royal Bank of Canada now owns 74,573 shares of the company’s stock valued at $1,320,000 after purchasing an additional 29,570 shares during the period. Finally, State Street Corp lifted its position in New York Times by 2.3% during the second quarter. State Street Corp now owns 4,112,961 shares of the company’s stock valued at $72,796,000 after purchasing an additional 90,840 shares during the period. Institutional investors own 66.84% of the company’s stock.

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New York Times Company Profile

The New York Times Company is a media company focused on creating, collecting and distributing news and information. The Company’s principal business consists of distributing content generated by its newsroom through its print, Web and mobile platforms. In addition, it distributes selected content on third-party platforms.

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