Brighton Jones LLC Takes $346,000 Position in The New York Times Company (NYSE:NYT)

Brighton Jones LLC purchased a new stake in shares of The New York Times Company (NYSE:NYT - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 6,986 shares of the company's stock, valued at approximately $346,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of New York Times by 511.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company's stock worth $25,000 after purchasing an additional 394 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of New York Times during the 4th quarter worth approximately $36,000. American National Bank & Trust acquired a new position in shares of New York Times during the 1st quarter worth approximately $45,000. Smartleaf Asset Management LLC raised 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 during the last quarter. Finally, Bessemer Group Inc. raised its position 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 last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director David S. Perpich sold 4,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William Bardeen sold 2,500 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $56.83, for a total transaction of $142,075.00. Following the sale, the executive vice president now directly owns 16,727 shares of the company's stock, valued at approximately $950,595.41. This trade represents a 13.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,490 shares of company stock valued at $479,728. Company insiders own 1.90% of the company's stock.

New York Times Price Performance

NYT stock traded up $0.27 during midday trading on Thursday, hitting $54.07. The stock had a trading volume of 1,758,744 shares, compared to its average volume of 1,382,669. The firm has a market cap of $8.82 billion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 1.88 and a beta of 1.13. The New York Times Company has a 12-month low of $44.83 and a 12-month high of $58.16. The company's 50-day moving average price is $53.36 and its 200 day moving average price is $51.80.

New York Times (NYSE:NYT - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.41 EPS for the quarter, topping the consensus estimate 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 net margin of 11.53% and a return on equity of 18.70%. New York Times's revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 EPS. As a group, sell-side analysts anticipate that The New York Times Company will post 2.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Citigroup restated a "buy" rating on shares of New York Times in a research report on Thursday, June 12th. Wall Street Zen upgraded New York Times from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Finally, Guggenheim lifted their target price on shares of New York Times from $53.00 to $55.00 and gave the stock a "neutral" rating in a research note on Monday, June 2nd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.40.

New York Times Company 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.