Magnetar Financial LLC Increases Stake in The New York Times Company (NYSE:NYT)

Magnetar Financial LLC raised its position in The New York Times Company (NYSE:NYT) by 90.4% during the fourth quarter, HoldingsChannel reports. The firm owned 8,549 shares of the company’s stock after purchasing an additional 4,058 shares during the period. Magnetar Financial LLC’s holdings in New York Times were worth $445,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its stake in shares of New York Times by 61.4% in the 4th quarter. UMB Bank n.a. now owns 744 shares of the company’s stock worth $39,000 after acquiring an additional 283 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of New York Times by 27.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock worth $60,000 after acquiring an additional 247 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of New York Times by 20.2% in the 4th quarter. GAMMA Investing LLC now owns 2,526 shares of the company’s stock worth $131,000 after acquiring an additional 424 shares during the last quarter. Portfolio Design Labs LLC acquired a new stake in shares of New York Times during the 4th quarter worth about $202,000. Finally, Synergy Financial Group LTD acquired a new stake in shares of New York Times during the 3rd quarter worth about $217,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

NYT has been the subject of a number of recent analyst reports. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley cut their price objective on New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

New York Times Price Performance

Shares of New York Times stock opened at $48.72 on Friday. The business has a 50-day moving average of $50.21 and a 200 day moving average of $52.86. The New York Times Company has a 12 month low of $41.55 and a 12 month high of $58.16. The stock has a market capitalization of $7.96 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18.

New York Times (NYSE:NYT) last announced its earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. Equities research analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.48%. This is a boost from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, April 1st. New York Times’s dividend payout ratio (DPR) is 40.45%.

New York Times 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.