Envestnet Portfolio Solutions Inc. Invests in The New York Times Company Shares

Envestnet Portfolio Solutions Inc. has revealed a new investment in The New York Times Company (NYSE:NYT) in its latest regulatory filing with the SEC. The investment firm purchased 5,434 shares of the media giant during the third quarter, with an approximate value of $224,000.

Flurry of Activity by Institutional Investors

Other major investors have also adjusted their holdings in The New York Times Company. For instance, Stockbridge Partners LLC significantly increased their stake by 61.5% in the first quarter, positioning themselves with a notable 6,490,990 shares. Not to be outdone, Millennium Management LLC saw their holdings skyrocket by an astonishing 16,960.8% during the fourth quarter. Norges Bank, Wellington Management Group LLP, and Independent Franchise Partners LLP followed suit, each making substantial investments and changes to their shareholdings in recent quarters. Overall, institutional investors own about 95.37% of The New York Times's stock.

Analysts Offer Mixed Ratings

Despite this investment interest, analysts have shown mixed sentiments. While Morgan Stanley increased their target price for NYT shares, the stock overall has an average rating of 'Hold' with a consensus target price of $42.75. These ratings come from various equity research analysts who keep a close eye on the stock's performance.

Recent Trading and Dividend News

The stock of The New York Times has seen some fluctuations in the market, with a recent downturn of 2.6%. Investors should note that the company has a history of stability with a year range from $35.06 to $49.87, and it also recently increased its quarterly dividend, showing confidence in its financial health. This dividend bump from $0.11 to $0.13 reflects a solid payout ratio of 31.65% for the company.

Insider Transactions Reveal CEO's Sale of Shares

In related insider news, CEO Levien Meredith A. Kopit parted with 13,543 shares, but still retains a substantial personal stake in the company. This and other insider sales provide insights into the actions of those closest to the company's operations.

About The New York Times Company

Recognized worldwide, The New York Times Company is not just a newspaper; it's a multimedia entity delivering content across multiple platforms. Its influence is felt not only in the U.S. but also on an international level, reinforcing its position as a significant player in the news and information sector.

Envestnet, Investment, Media