Assenagon Asset Management S.A. Has $20.11 Million Stake in The New York Times Company (NYSE:NYT)

Assenagon Asset Management S.A. raised its holdings in The New York Times Company (NYSE:NYT) by 582.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 361,235 shares of the company’s stock after purchasing an additional 308,277 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.22% of New York Times worth $20,110,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Janus Henderson Group PLC raised its holdings in shares of New York Times by 72.9% in the first quarter. Janus Henderson Group PLC now owns 122,820 shares of the company’s stock valued at $5,308,000 after buying an additional 51,801 shares during the last quarter. Cullinan Associates Inc. lifted its position in shares of New York Times by 10.3% during the first quarter. Cullinan Associates Inc. now owns 195,593 shares of the company’s stock worth $8,454,000 after purchasing an additional 18,337 shares in the last quarter. Entropy Technologies LP acquired a new position in New York Times during the 1st quarter worth $473,000. Comerica Bank boosted its position in New York Times by 15.6% in the 1st quarter. Comerica Bank now owns 83,282 shares of the company’s stock valued at $3,599,000 after buying an additional 11,234 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of New York Times by 9.0% in the 1st quarter. Russell Investments Group Ltd. now owns 116,934 shares of the company’s stock valued at $5,054,000 after buying an additional 9,609 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NYT. JPMorgan Chase & Co. upped their price target on New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of New York Times in a research report on Wednesday, October 9th. They set a “buy” rating and a $65.00 target price on the stock. Finally, Barclays lifted their price target on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.71.

New York Times Price Performance

Shares of NYT stock opened at $55.43 on Friday. The stock has a market cap of $9.10 billion, a PE ratio of 34.22 and a beta of 1.03. The stock has a 50-day moving average of $54.72 and a 200-day moving average of $51.40. The New York Times Company has a one year low of $39.73 and a one year high of $56.49.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The firm had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $624.82 million. New York Times had a net margin of 10.81% and a return on equity of 17.45%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 earnings per share. As a group, research analysts anticipate that The New York Times Company will post 1.83 earnings per share for the current year.

New York Times Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.94%. The ex-dividend date was Wednesday, October 9th. New York Times’s payout ratio is presently 32.10%.

Insiders Place Their Bets

In other New York Times news, CFO William Bardeen sold 2,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $54.56, for a total value of $109,120.00. Following the completion of the sale, the chief financial officer now directly owns 10,315 shares in the company, valued at $562,786.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $53.92, for a total value of $986,736.00. Following the completion of the transaction, the chief executive officer now owns 101,772 shares in the company, valued at $5,487,546.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William Bardeen sold 2,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $54.56, for a total transaction of $109,120.00. Following the sale, the chief financial officer now directly owns 10,315 shares of the company’s stock, valued at $562,786.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

New York Times Company 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.