Stock Traders Buy Large Volume of Put Options on New York Times (NYT)

New York Times Co (NYSE:NYT) saw some unusual options trading activity on Thursday. Stock traders purchased 3,633 put options on the stock. This is an increase of 6,505% compared to the typical volume of 55 put options.

Several research firms have issued reports on NYT. Zacks Investment Research raised shares of New York Times from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Friday, November 3rd. ValuEngine cut shares of New York Times from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Jefferies Group reissued a “hold” rating and issued a $18.00 price objective on shares of New York Times in a research report on Monday, October 16th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. New York Times presently has a consensus rating of “Hold” and a consensus target price of $15.45.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Syntal Capital Partners LLC lifted its position in shares of New York Times by 81.3% in the 4th quarter. Syntal Capital Partners LLC now owns 75,174 shares of the company’s stock worth $1,390,000 after purchasing an additional 33,717 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of New York Times in the 4th quarter worth approximately $186,000. Schwab Charles Investment Management Inc. lifted its position in shares of New York Times by 0.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 807,616 shares of the company’s stock worth $14,941,000 after purchasing an additional 5,774 shares during the period. Wasatch Advisors Inc. lifted its position in shares of New York Times by 70.2% in the 4th quarter. Wasatch Advisors Inc. now owns 400,935 shares of the company’s stock worth $7,417,000 after purchasing an additional 165,326 shares during the period. Finally, Invictus RG lifted its position in shares of New York Times by 25.4% in the 3rd quarter. Invictus RG now owns 22,064 shares of the company’s stock worth $432,000 after purchasing an additional 4,474 shares during the period. 67.90% of the stock is owned by hedge funds and other institutional investors.

Shares of New York Times (NYT) opened at $21.90 on Friday. The stock has a market cap of $3,275.57, a PE ratio of 36.50 and a beta of 1.65. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.83 and a quick ratio of 1.83. New York Times has a 52-week low of $13.00 and a 52-week high of $21.98.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.05. The company had revenue of $385.60 million during the quarter, compared to analysts’ expectations of $390.13 million. New York Times had a net margin of 6.02% and a return on equity of 13.46%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.06 EPS. equities research analysts anticipate that New York Times will post 0.72 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Wednesday, January 10th will be given a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $0.16 annualized dividend and a yield of 0.73%. New York Times’s dividend payout ratio (DPR) is 26.67%.

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About New York Times

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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