Aigen Investment Management LP Grows Stake in The New York Times Company (NYSE:NYT)

Aigen Investment Management LP raised its holdings in shares of The New York Times Company (NYSE:NYT) by 50.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 11,037 shares of the company’s stock after purchasing an additional 3,677 shares during the quarter. Aigen Investment Management LP’s holdings in New York Times were worth $614,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. UMB Bank n.a. boosted its position in shares of New York Times by 356.4% during the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock valued at $26,000 after buying an additional 360 shares during the period. GAMMA Investing LLC boosted its position in shares of New York Times by 129.4% during the second quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock valued at $72,000 after buying an additional 792 shares during the period. Signaturefd LLC boosted its position in shares of New York Times by 34.2% during the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock valued at $87,000 after buying an additional 432 shares during the period. Blue Trust Inc. boosted its position in shares of New York Times by 401.8% during the second 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. Finally, Paladin Wealth LLC purchased a new position in shares of New York Times during the third quarter valued at approximately $172,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NYT. Deutsche Bank Aktiengesellschaft boosted their target price on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Barclays boosted their price target on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their price target on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, New York Times currently has a consensus rating of “Moderate Buy” and an average target price of $54.83.

New York Times Stock Down 1.3 %

Shares of NYSE:NYT opened at $54.48 on Thursday. The company has a market capitalization of $8.95 billion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 1.75 and a beta of 1.02. The New York Times Company has a 52 week low of $41.55 and a 52 week high of $57.08. The firm has a 50 day moving average of $54.84 and a 200 day moving average of $52.58.

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

New York Times Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Wednesday, October 9th. New York Times’s payout ratio is presently 30.77%.

About New York Times

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.