Douglas Lane & Associates LLC Sells 5,323 Shares of The New York Times Company (NYSE:NYT)

Douglas Lane & Associates LLC decreased its position in shares of The New York Times Company (NYSE:NYT - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,405 shares of the company's stock after selling 5,323 shares during the period. Douglas Lane & Associates LLC owned 0.06% of New York Times worth $4,980,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NYT. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of New York Times by 511.7% in the fourth 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 in the last quarter. Mountain Hill Investment Partners Corp. bought a new position in shares of New York Times in the fourth quarter valued at $36,000. American National Bank & Trust bought a new position in shares of New York Times in the first quarter valued at $45,000. Smartleaf Asset Management LLC increased its holdings in shares of New York Times by 27.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company's stock valued at $60,000 after buying an additional 247 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings 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 valued at $99,000 after buying an additional 212 shares in the last quarter. Institutional investors own 95.37% of the company's stock.

New York Times Stock Down 0.2%

Shares of New York Times stock traded down $0.10 on Thursday, hitting $55.74. 872,856 shares of the company traded hands, compared to its average volume of 1,366,102. The company has a 50-day moving average price of $52.00 and a 200 day moving average price of $51.71. The New York Times Company has a 12-month low of $44.83 and a 12-month high of $58.16. The company has a market cap of $9.09 billion, a PE ratio of 31.31, a PEG ratio of 1.75 and a beta of 1.16.

New York Times (NYSE:NYT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.41 EPS 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 period in the previous year, the company posted $0.31 EPS. New York Times's revenue was up 7.1% on a year-over-year basis. Equities research analysts anticipate that The New York Times Company will post 2.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NYT. Wall Street Zen raised New York Times from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Morgan Stanley cut their target price on shares of New York Times from $56.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Finally, Guggenheim boosted 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 note on Monday. Three investment analysts have rated the stock with a hold rating and three have assigned 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 an average target price of $56.40.

Insider Activity

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 value of $224,720.00. Following the completion of the sale, the director now directly owns 27,569 shares in the company, valued at approximately $1,548,826.42. This represents a 12.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO R Anthony Benten sold 1,990 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $56.75, for a total transaction of $112,932.50. Following the completion of the sale, the chief accounting officer now owns 39,685 shares of the company's stock, valued at $2,252,123.75. This represents a 4.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,490 shares of company stock worth $479,728 in the last ninety days. Corporate insiders own 1.90% of the company's stock.

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.