Neo Ivy Capital Management Sells 23,710 Shares of The New York Times Company (NYSE:NYT)

Neo Ivy Capital Management lessened its holdings in shares of The New York Times Company (NYSE:NYT) by 35.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 43,226 shares of the company’s stock after selling 23,710 shares during the period. New York Times accounts for 0.8% of Neo Ivy Capital Management’s portfolio, making the stock its 28th largest position. Neo Ivy Capital Management’s holdings in New York Times were worth $2,406,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NYT. UMB Bank n.a. grew its holdings in New York Times by 356.4% during the 3rd quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after acquiring an additional 360 shares during the period. Signaturefd LLC grew its holdings in New York Times by 34.2% during the 2nd quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after acquiring an additional 432 shares during the period. Blue Trust Inc. grew its holdings in shares of New York Times by 401.8% in the 2nd quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock valued at $115,000 after buying an additional 1,800 shares during the period. GAMMA Investing LLC grew its holdings in shares of New York Times by 49.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,102 shares of the company’s stock valued at $117,000 after buying an additional 698 shares during the period. Finally, Paladin Wealth LLC acquired a new position in shares of New York Times in the 3rd quarter valued at $172,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Trading Down 2.9 %

NYT stock opened at $55.18 on Wednesday. The stock has a 50-day moving average price of $54.80 and a two-hundred day moving average price of $53.56. The stock has a market cap of $9.05 billion, a PE ratio of 32.65, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $58.16.

New York Times (NYSE:NYT) last released its earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The firm had revenue of $640.20 million during the quarter, compared to analysts’ expectations of $641.00 million. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 EPS. On average, analysts forecast that The New York Times Company will post 1.84 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend was Wednesday, October 9th. New York Times’s dividend payout ratio (DPR) is presently 30.77%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NYT shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price target on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.83.

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.