Jefferies Financial Group Inc. Takes Position in The New York Times Company (NYSE:NYT)

Jefferies Financial Group Inc. bought 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 filing with the Securities and Exchange Commission (SEC). The fund bought 12,114 shares of the company's stock, valued at approximately $631,000.

Several other hedge funds also recently modified their holdings of the company. Brown Financial Advisors lifted its position in shares of New York Times by 2.3% in the 4th quarter. Brown Financial Advisors now owns 8,996 shares of the company's stock worth $468,000 after purchasing an additional 200 shares during the period. Bessemer Group Inc. raised its stake in shares of New York Times by 12.6% in the fourth quarter. Bessemer Group Inc. now owns 1,895 shares of the company's stock worth $99,000 after purchasing an additional 212 shares during the last quarter. IFP Advisors Inc grew 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 worth $1,789,000 after acquiring an additional 224 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of 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 last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of New York Times by 27.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company's stock valued at $60,000 after purchasing an additional 247 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

New York Times Trading Up 1.1%

Shares of NYT traded up $0.64 during mid-day trading on Friday, reaching $57.14. The company's stock had a trading volume of 2,143,875 shares, compared to its average volume of 1,362,226. The stock has a market cap of $9.32 billion, a PE ratio of 32.10, a P/E/G ratio of 1.75 and a beta of 1.16. The company's fifty day moving average price is $51.44 and its two-hundred day moving average price is $51.63. The New York Times Company has a 52 week low of $44.83 and a 52 week high of $58.16.

New York Times (NYSE:NYT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $634.99 million. During the same quarter in the previous year, the business posted $0.31 earnings per share. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. Research analysts anticipate that The New York Times Company will post 2.08 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Wall Street Zen upgraded shares of New York Times from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Guggenheim increased their price objective on New York Times from $52.00 to $53.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, Morgan Stanley dropped their price target on New York Times from $56.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $56.00.

About New York Times

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.