Vest Financial LLC Buys Shares of 63,341 The New York Times Company (NYSE:NYT)

Vest Financial LLC purchased a new stake in The New York Times Company (NYSE:NYT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 63,341 shares of the company's stock, valued at approximately $3,142,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in New York Times by 511.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company's stock valued at $25,000 after buying an additional 394 shares during the period. Mountain Hill Investment Partners Corp. purchased a new stake in New York Times in the 4th quarter valued at about $36,000. American National Bank & Trust purchased a new stake in New York Times in the 1st quarter valued at about $45,000. Smartleaf Asset Management LLC grew its holdings 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 during the period. Finally, Bessemer Group Inc. grew its holdings in shares of New York Times by 12.6% during the 4th 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 period. Hedge funds and other institutional investors own 95.37% of the company's stock.

Insiders Place Their Bets

In other New York Times news, EVP William Bardeen sold 2,500 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $56.83, for a total value of $142,075.00. Following the completion of the transaction, the executive vice president now owns 16,727 shares in the company, valued at $950,595.41. This represents a 13.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David S. Perpich sold 4,000 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $56.18, for a total value of $224,720.00. Following the completion of the transaction, the director now owns 27,569 shares of the company's stock, valued at approximately $1,548,826.42. This represents a 12.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,490 shares of company stock worth $479,728 in the last 90 days. 1.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wall Street Zen upgraded New York Times from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Guggenheim boosted their target price on New York Times from $53.00 to $55.00 and gave the stock a "neutral" rating in a report on Monday, June 2nd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, New York Times presently has a consensus rating of "Moderate Buy" and an average price target of $56.40.

New York Times Stock Performance

Shares of NYSE:NYT traded up $0.10 during trading on Friday, reaching $55.85. 742,239 shares of the stock were exchanged, compared to its average volume of 1,366,881. The New York Times Company has a 12-month low of $44.83 and a 12-month high of $58.16. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of 31.37, a price-to-earnings-growth ratio of 1.75 and a beta of 1.13. The firm's 50-day moving average price is $52.11 and its 200 day moving average price is $51.73.

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, topping analysts' consensus estimates of $0.35 by $0.06. The firm had revenue of $635.91 million during the quarter, compared to analysts' expectations of $634.99 million. New York Times had a return on equity of 18.51% and a net margin of 11.36%. New York Times's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 EPS. As a group, equities research analysts forecast that The New York Times Company will post 2.08 EPS for the current year.

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.