AXQ Capital LP Invests $1.07 Million in The New York Times Company (NYSE:NYT)

AXQ Capital LP purchased a new position in shares of The New York Times Company (NYSE:NYT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 20,639 shares of the company’s stock, valued at approximately $1,074,000.

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

Analysts Set New Price Targets

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

New York Times Stock Up 0.3 %

NYSE NYT opened at $48.72 on Friday. The stock has a market cap of $7.96 billion, a PE ratio of 27.37, a P/E/G ratio of 1.75 and a beta of 1.18. The New York Times Company has a fifty-two week low of $41.55 and a fifty-two week high of $58.16. The business has a 50 day moving average price of $50.21 and a two-hundred day moving average price of $52.86.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, topping 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%. Sell-side analysts anticipate that The New York Times Company will post 2.08 EPS for the current fiscal year.

New York Times Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.48%. This is a positive change 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 is presently 40.45%.

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.