Freestone Grove Partners LP Purchases Shares of 6,852 The New York Times Company (NYSE:NYT)

Freestone Grove Partners LP purchased a new stake in The New York Times Company (NYSE:NYT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,852 shares of the company's stock, valued at approximately $357,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Brown Financial Advisors lifted its position in shares of New York Times by 2.3% during the 4th quarter. Brown Financial Advisors now owns 8,996 shares of the company's stock worth $468,000 after buying an additional 200 shares during the period. Bessemer Group Inc. lifted its holdings in shares of New York Times by 12.6% during the fourth quarter. Bessemer Group Inc. now owns 1,895 shares of the company's stock valued at $99,000 after acquiring an additional 212 shares during the period. IFP Advisors Inc boosted its stake in shares of New York Times by 0.7% in the 4th quarter. IFP Advisors Inc now owns 34,368 shares of the company's stock valued at $1,789,000 after purchasing an additional 224 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of New York Times by 1.2% in the 4th quarter. Natixis Advisors LLC now owns 19,187 shares of the company's stock worth $999,000 after purchasing an additional 228 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of New York Times by 27.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company's stock worth $60,000 after purchasing an additional 247 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

New York Times Stock Up 1.9 %

NYSE NYT traded up $1.00 on Friday, reaching $53.61. The company had a trading volume of 1,819,035 shares, compared to its average volume of 1,337,392. The New York Times Company has a 52 week low of $44.83 and a 52 week high of $58.16. The stock has a market cap of $8.75 billion, a price-to-earnings ratio of 30.12, a PEG ratio of 1.75 and a beta of 1.16. The stock's 50 day moving average is $49.25 and its 200-day moving average is $51.62.

New York Times (NYSE:NYT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. The business had revenue of $635.91 million for the quarter, compared to the consensus estimate of $634.99 million. During the same period last year, the company posted $0.31 EPS. New York Times's revenue for the quarter was up 7.1% on a year-over-year basis. As a group, analysts forecast that The New York Times Company will post 2.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NYT. Morgan Stanley reduced their price objective on New York Times from $56.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. StockNews.com raised shares of New York Times from a "hold" rating to a "buy" rating in a research note on Friday, April 11th. Finally, Guggenheim raised their price target on shares of New York Times from $52.00 to $53.00 and gave the company a "neutral" rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $55.50.

New York Times 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.