Generate Investment Management Ltd Sells 22,062 Shares of The New York Times Company (NYSE:NYT)

Generate Investment Management Ltd lessened its position in shares of The New York Times Company (NYSE:NYT - Free Report) by 24.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,849 shares of the company's stock after selling 22,062 shares during the period. Generate Investment Management Ltd's holdings in New York Times were worth $3,316,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in New York Times by 511.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company's stock worth $25,000 after buying an additional 394 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new stake in New York Times in the fourth quarter worth $36,000. American National Bank & Trust acquired a new stake in New York Times in the first quarter worth $45,000. Smartleaf Asset Management LLC grew its holdings in New York Times by 27.7% in the fourth 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 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 period. Institutional investors own 95.37% of the company's stock.

Insider Transactions at New York Times

In related news, Director David S. Perpich sold 4,000 shares of New York Times stock in a transaction dated 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 owns 27,569 shares in the company, valued at $1,548,826.42. This trade represents a 12.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO R Anthony Benten sold 1,990 shares of New York Times stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $56.75, for a total transaction of $112,932.50. Following the sale, the chief accounting officer now owns 39,685 shares of the company's stock, valued at $2,252,123.75. The trade was a 4.78% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,490 shares of company stock valued at $479,728. 1.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on NYT shares. Citigroup restated a "buy" rating on shares of New York Times in a report on Thursday, June 12th. Guggenheim lifted their price objective on shares of New York Times from $53.00 to $55.00 and gave the company a "neutral" rating in a report on Monday, June 2nd. Finally, 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. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $56.40.

New York Times Price Performance

NYT stock opened at $54.77 on Wednesday. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $58.16. The firm has a 50-day moving average of $53.86 and a 200 day moving average of $51.77. The company has a market cap of $8.93 billion, a P/E ratio of 29.77, a PEG ratio of 1.90 and a beta of 1.13.

New York Times (NYSE:NYT - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06. The company had revenue of $635.91 million for 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 firm'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. On average, equities research analysts expect that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

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.

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