Capital Fund Management S.A. Grows Stock Holdings in The New York Times Company (NYSE:NYT)

Capital Fund Management S.A. lifted its position in shares of The New York Times Company (NYSE:NYTGet Rating) by 253.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 125,578 shares of the company’s stock after purchasing an additional 90,033 shares during the period. Capital Fund Management S.A.’s holdings in New York Times were worth $6,065,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Fulton Bank N.A. increased its holdings in shares of New York Times by 4.7% in the 4th quarter. Fulton Bank N.A. now owns 5,217 shares of the company’s stock worth $252,000 after buying an additional 235 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of New York Times by 1.3% in the 4th quarter. Pacer Advisors Inc. now owns 24,263 shares of the company’s stock worth $1,172,000 after buying an additional 311 shares during the last quarter. Brave Asset Management Inc. increased its holdings in shares of New York Times by 7.1% in the 4th quarter. Brave Asset Management Inc. now owns 4,818 shares of the company’s stock worth $233,000 after buying an additional 318 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of New York Times by 4.9% in the 4th quarter. CIBC Asset Management Inc now owns 6,992 shares of the company’s stock worth $338,000 after buying an additional 328 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its holdings in New York Times by 2.6% during the 4th quarter. Crossmark Global Holdings Inc. now owns 14,791 shares of the company’s stock valued at $714,000 after purchasing an additional 370 shares during the last quarter. Institutional investors and hedge funds own 90.76% of the company’s stock.

Shares of NYSE:NYT opened at $33.54 on Friday. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 31.06 and a beta of 0.89. The firm’s 50-day moving average is $42.59 and its 200 day moving average is $44.31. The New York Times Company has a 12 month low of $31.68 and a 12 month high of $56.19.

New York Times (NYSE:NYTGet Rating) last issued its earnings results on Wednesday, May 4th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $537.40 million for the quarter, compared to the consensus estimate of $543.35 million. New York Times had a net margin of 8.58% and a return on equity of 13.87%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 EPS. As a group, analysts predict that The New York Times Company will post 1.17 earnings per share for the current fiscal year.

New York Times announced that its board has authorized a share repurchase program on Wednesday, February 2nd that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Several equities analysts recently commented on NYT shares. Zacks Investment Research upgraded shares of New York Times from a “sell” rating to a “hold” rating and set a $48.00 price target on the stock in a report on Friday, April 8th. StockNews.com started coverage on shares of New York Times in a report on Thursday, March 31st. They set a “hold” rating on the stock.

In other news, CEO Levien Meredith A. Kopit sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 24th. The shares were sold at an average price of $42.78, for a total value of $427,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Diane Brayton sold 9,999 shares of New York Times stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of $41.44, for a total transaction of $414,358.56. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

About New York Times (Get Rating)

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. It offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.

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

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