Sei Investments Co. Increases Position in New York Times Company (The) (NYT)

Sei Investments Co. lifted its holdings in New York Times Company (The) (NYSE:NYT) by 93.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,341 shares of the company’s stock after purchasing an additional 4,990 shares during the period. Sei Investments Co.’s holdings in New York Times Company (The) were worth $183,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. grew its holdings in shares of New York Times Company (The) by 384.2% in the first quarter. Envestnet Asset Management Inc. now owns 7,800 shares of the company’s stock valued at $112,000 after purchasing an additional 6,189 shares in the last quarter. LS Investment Advisors LLC grew its holdings in shares of New York Times Company (The) by 17.5% in the second quarter. LS Investment Advisors LLC now owns 9,767 shares of the company’s stock valued at $173,000 after purchasing an additional 1,452 shares in the last quarter. Independent Portfolio Consultants Inc. grew its holdings in shares of New York Times Company (The) by 1,082.8% in the second quarter. Independent Portfolio Consultants Inc. now owns 11,710 shares of the company’s stock valued at $207,000 after purchasing an additional 10,720 shares in the last quarter. Quantitative Investment Management LLC acquired a new position in shares of New York Times Company (The) in the first quarter valued at approximately $210,000. Finally, ING Groep NV acquired a new position in shares of New York Times Company (The) in the second quarter valued at approximately $263,000. Hedge funds and other institutional investors own 63.98% of the company’s stock.

In related news, insider Carso S.A. De C.V. Inversora sold 521,500 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $19.27, for a total transaction of $10,049,305.00. Following the completion of the sale, the insider now owns 19,353,000 shares of the company’s stock, valued at approximately $372,932,310. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO James M. Follo sold 138,161 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $18.97, for a total transaction of $2,620,914.17. Following the sale, the chief financial officer now directly owns 136,523 shares of the company’s stock, valued at approximately $2,589,841.31. The disclosure for this sale can be found here. 5.70% of the stock is currently owned by corporate insiders.

NYT has been the subject of a number of research reports. Zacks Investment Research upgraded shares of New York Times Company (The) from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Monday, July 31st. Barclays PLC lifted their price objective on shares of New York Times Company (The) from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $15.20.

New York Times Company (NYT) opened at 19.05 on Monday. The company has a 50 day moving average of $18.64 and a 200-day moving average of $16.71. The firm has a market cap of $3.09 billion, a PE ratio of 48.47 and a beta of 1.78. New York Times Company has a one year low of $10.60 and a one year high of $20.15.

New York Times Company (The) (NYSE:NYT) last posted its earnings results on Thursday, July 27th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.05. The firm had revenue of $407.10 million during the quarter, compared to the consensus estimate of $393.07 million. New York Times Company (The) had a net margin of 4.12% and a return on equity of 12.76%. The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. On average, equities research analysts predict that New York Times Company will post $0.71 earnings per share for the current year.

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About New York Times Company (The)

The New York Times Company is a media company focused on creating, collecting and distributing news and information. The Company’s principal business consists of distributing content generated by its newsroom through its print, Web and mobile platforms. In addition, it distributes selected content on third-party platforms.

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Institutional Ownership by Quarter for New York Times Company (The) (NYSE:NYT)

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