The New York Times Company (NYSE:NYT) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its position in The New York Times Company (NYSE:NYT - Free Report) by 44.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,171 shares of the company's stock after selling 37,802 shares during the period. Assenagon Asset Management S.A.'s holdings in New York Times were worth $2,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Centiva Capital LP grew its stake in New York Times by 58.6% in the 4th quarter. Centiva Capital LP now owns 36,031 shares of the company's stock worth $1,875,000 after acquiring an additional 13,311 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of New York Times in the 4th quarter worth approximately $1,200,000. Baillie Gifford & Co. lifted its position in shares of New York Times by 228.3% in the 4th quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company's stock worth $132,040,000 after purchasing an additional 1,764,078 shares during the period. Lazard Asset Management LLC lifted its position in shares of New York Times by 31.0% in the 4th quarter. Lazard Asset Management LLC now owns 16,462 shares of the company's stock worth $856,000 after purchasing an additional 3,894 shares during the period. Finally, 111 Capital purchased a new stake in shares of New York Times in the 4th quarter worth approximately $342,000. Institutional investors own 95.37% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NYT shares. Wall Street Zen raised shares of New York Times from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Citigroup reissued a "buy" rating on shares of New York Times in a research report on Thursday, June 12th. Finally, Guggenheim increased their target price on shares of New York Times from $53.00 to $55.00 and gave the company a "neutral" rating in a research report on Monday, June 2nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, New York Times currently has an average rating of "Moderate Buy" and a consensus price target of $56.40.

Insiders Place Their Bets

In other news, EVP William Bardeen sold 2,500 shares of the stock in a transaction 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 sale, 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 ownership of the stock. 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 stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $56.18, for a total transaction of $224,720.00. Following the completion of the sale, the director now owns 27,569 shares in the company, valued at $1,548,826.42. The trade was a 12.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,490 shares of company stock valued at $479,728. Insiders own 1.90% of the company's stock.

New York Times Trading Up 0.5%

Shares of NYSE NYT traded up $0.27 during midday trading on Wednesday, reaching $54.07. The company had a trading volume of 1,758,744 shares, compared to its average volume of 1,318,713. The business's 50-day simple moving average is $53.25 and its 200 day simple moving average is $51.78. The stock has a market cap of $8.82 billion, a P/E ratio of 25.50, a P/E/G ratio of 1.87 and a beta of 1.13. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $58.16.

New York Times (NYSE:NYT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.06. The business had revenue of $635.91 million during the quarter, compared to analysts' expectations of $634.99 million. New York Times had a net margin of 11.53% and a return on equity of 18.70%. The business's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company posted $0.31 earnings per share. Analysts predict that The New York Times Company will post 2.08 earnings per share for the current year.

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.