Short Interest in The New York Times Company (NYSE:NYT) Rises By 26.7%

The New York Times Company (NYSE:NYT) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 5,220,000 shares, a growth of 26.7% from the October 31st total of 4,120,000 shares. Currently, 3.3% of the shares of the company are sold short. Based on an average trading volume of 1,030,000 shares, the days-to-cover ratio is presently 5.1 days.

New York Times Stock Performance

Shares of NYSE NYT traded down $0.08 during midday trading on Monday, reaching $54.18. 1,116,000 shares of the company traded hands, compared to its average volume of 1,129,716. The firm has a market cap of $8.88 billion, a PE ratio of 32.06, a PEG ratio of 1.72 and a beta of 1.02. The stock’s 50-day simple moving average is $54.80 and its 200-day simple moving average is $53.31. New York Times has a 12 month low of $41.55 and a 12 month high of $57.08.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The company had revenue of $640.20 million during the quarter, compared to analysts’ expectations of $641.00 million. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the business earned $0.37 earnings per share. On average, equities research analysts expect that New York Times will post 1.84 EPS for the current year.

New York Times Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.96%. New York Times’s dividend payout ratio is 30.77%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. raised its holdings in shares of New York Times by 1.5% in the third quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock valued at $187,544,000 after buying an additional 49,853 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of New York Times by 17.4% in the third quarter. Tidal Investments LLC now owns 20,715 shares of the company’s stock valued at $1,153,000 after buying an additional 3,071 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in New York Times in the third quarter worth about $278,000. Coldstream Capital Management Inc. increased its position in New York Times by 4.3% in the third quarter. Coldstream Capital Management Inc. now owns 4,666 shares of the company’s stock worth $260,000 after purchasing an additional 193 shares during the period. Finally, Synergy Financial Group LTD acquired a new stake in New York Times in the third quarter worth about $217,000. 95.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Barclays upped their target price on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their target price on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. upped their target price on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, New York Times currently has a consensus rating of “Moderate Buy” and an average price target of $54.83.

New York Times Company 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.