Pallas Capital Advisors LLC acquired a new stake in The New York Times Company (NYSE:NYT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,611 shares of the company's stock, valued at approximately $526,000.
A number of other institutional investors also recently bought and sold shares of the business. Brown Financial Advisors lifted its holdings 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 acquiring an additional 200 shares during the period. Bessemer Group Inc. lifted its stake in shares of New York Times by 12.6% in the 4th quarter. Bessemer Group Inc. now owns 1,895 shares of the company's stock valued at $99,000 after purchasing an additional 212 shares in the last quarter. IFP Advisors Inc grew its stake in New York Times by 0.7% during the fourth quarter. IFP Advisors Inc now owns 34,368 shares of the company's stock worth $1,789,000 after buying an additional 224 shares during the period. Natixis Advisors LLC raised its position in New York Times by 1.2% in the fourth quarter. Natixis Advisors LLC now owns 19,187 shares of the company's stock valued at $999,000 after purchasing an additional 228 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in 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 acquiring an additional 247 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts recently commented on the company. Wall Street Zen upgraded New York Times from a "hold" rating to a "buy" rating in a research note on Friday, April 11th. Guggenheim lifted their price target on shares of New York Times from $53.00 to $55.00 and gave the company a "neutral" rating in a report on Monday, June 2nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, New York Times presently has an average rating of "Moderate Buy" and a consensus target price of $56.40.
Read Our Latest Stock Report on NYT
New York Times Stock Performance
Shares of NYSE:NYT traded down $0.17 during trading on Thursday, reaching $55.56. The company had a trading volume of 1,035,755 shares, compared to its average volume of 1,368,183. The New York Times Company has a twelve month low of $44.83 and a twelve month high of $58.16. The firm has a market capitalization of $9.06 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 1.75 and a beta of 1.13. The firm's fifty day moving average is $52.53 and its 200 day moving average is $51.78.
New York Times (NYSE:NYT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06. The company had revenue of $635.91 million for the quarter, compared to analysts' expectations of $634.99 million. New York Times had a net margin of 11.36% and a return on equity of 18.51%. The business's revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS. Equities analysts predict that The New York Times Company will post 2.08 earnings per share for the current fiscal year.
Insider Buying and Selling at New York Times
In other New York Times news, CAO R Anthony Benten sold 1,990 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $56.75, for a total value of $112,932.50. Following the transaction, the chief accounting officer now owns 39,685 shares in the company, valued at approximately $2,252,123.75. This represents a 4.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William Bardeen sold 2,500 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $56.83, for a total value of $142,075.00. Following the completion of the sale, the executive vice president now directly owns 16,727 shares of the company's stock, valued at approximately $950,595.41. The trade was a 13.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,490 shares of company stock valued at $479,728 in the last three months. 1.90% of the stock is currently owned by company insiders.
New York Times Company Profile
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Free Report)
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.
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