Quinn Opportunity Partners LLC Makes New $10.96 Million Investment in The New York Times Company (NYSE:NYT)

Quinn Opportunity Partners LLC purchased a new stake in The New York Times Company (NYSE:NYT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 210,600 shares of the company’s stock, valued at approximately $10,962,000. Quinn Opportunity Partners LLC owned approximately 0.13% of New York Times at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in New York Times by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 15,800,348 shares of the company’s stock valued at $822,408,000 after buying an additional 63,856 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of New York Times by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 4,035,335 shares of the company’s stock valued at $210,084,000 after purchasing an additional 102,519 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of New York Times by 13.3% in the fourth quarter. Renaissance Technologies LLC now owns 3,570,380 shares of the company’s stock valued at $185,838,000 after purchasing an additional 418,155 shares during the last quarter. Franklin Resources Inc. boosted its holdings in New York Times by 0.7% during the fourth quarter. Franklin Resources Inc. now owns 3,376,517 shares of the company’s stock worth $175,748,000 after purchasing an additional 22,725 shares during the last quarter. Finally, Baillie Gifford & Co. grew its position in New York Times by 228.3% in the fourth quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company’s stock valued at $132,040,000 after purchasing an additional 1,764,078 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research note on Friday. Morgan Stanley reduced their target price on shares of 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 assigned a buy rating to the company. According to data from MarketBeat, New York Times has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

New York Times Stock Performance

NYT opened at $47.88 on Friday. The New York Times Company has a 52-week low of $41.55 and a 52-week high of $58.16. The firm has a market cap of $7.82 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 1.75 and a beta of 1.10. The business’s fifty day moving average is $48.67 and its 200-day moving average is $52.23.

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

New York Times Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.18 per share. This is an increase from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a yield of 1.50%. The ex-dividend date is Tuesday, April 1st. New York Times’s payout ratio is currently 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.