Insider Selling: New York Times Company (NYSE:NYT) Director Sells 6,478 Shares
The New York Times Society (NYSE: NYT – Get a rating) Director David S. Perpich sold 6,478 shares of the company in a trade on Friday, November 18. The shares were sold at an average price of $35.71, for a total value of $231,329.38. Following the transaction, the director now directly owns 19,699 shares of the company, valued at approximately $703,451.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, available at the SEC website.
New York Times shares down 2.5%
Shares of New York Times Action traded at $0.90 during Monday trading hours, reaching $34.79. 972,227 shares of the stock traded in hands, compared to its average volume of 1,446,384. The company has a 50-day moving average price of $30.91 and a 200-day moving average price of $31.23. The company has a market capitalization of $5.75 billion, a price-earnings ratio of 33.78 and a beta of 0.96. The New York Times Company has a one-year low of $27.58 and a one-year high of $48.61.
New York Times Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 21. Investors of record on Monday, October 10 received a dividend of $0.09 per share. The ex-dividend date was Thursday, October 6. This represents a dividend of $0.36 on an annualized basis and a dividend yield of 1.03%. The New York Times dividend payout ratio (DPR) is currently 34.95%.
Institutional entries and exits
Hedge funds have recently changed their positions in the stock. First Horizon Advisors Inc. increased its holdings in The New York Times by 3,754.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 925 shares of the company valued at $25,000 after purchasing an additional 901 shares during the period. Byrne Asset Management LLC bought a new position in The New York Times in the third quarter worth about $27,000. Signaturefd LLC increased its stake in The New York Times by 52.5% in the third quarter. Signaturefd LLC now owns 1,144 shares of the company valued at $33,000 after purchasing an additional 394 shares in the last quarter. CWM LLC increased its stake in The New York Times to 656.7% in the second quarter. CWM LLC now owns 1,241 shares of the company valued at $35,000 after purchasing an additional 1,077 shares in the last quarter. Finally, Wipfli Financial Advisors LLC bought a new position in The New York Times in the third quarter worth about $40,000. 97.42% of the shares are currently held by institutional investors.
A Wall Street analyst gives his opinion
Several research companies have recently commented on the NYT. StockNews.com began New York Times coverage in a report on Wednesday, October 12. They issued a “hold” rating for the company. Morgan Stanley cut its price target on The New York Times from $40.00 to $37.00 and set an “overweight” rating for the company in a Thursday, Aug. 4, report. One analyst rated the stock with a sell rating, four issued a hold rating and two issued a buy rating for the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $36.93.
New York Times Company Profile
The New York Times Company, together with its subsidiaries, provides news and information to readers and viewers on various platforms around the world. It offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as the international edition of The Times; and operates the NYTimes.com website.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Before you consider The New York Times, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market spreads…and the New York Times was not on the list.
While the New York Times currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.