Legacy Wealth Asset Management LLC Takes $399,000 Position in The New York Times Company (NYSE:NYT)

Legacy Wealth Asset Management LLC purchased a new stake in The New York Times Company (NYSE:NYT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,035 shares of the company's stock, valued at approximately $399,000.

A number of other institutional investors have also added to or reduced their stakes in NYT. Centiva Capital LP grew its holdings in shares of New York Times by 58.6% during the 4th quarter. Centiva Capital LP now owns 36,031 shares of the company's stock worth $1,875,000 after purchasing an additional 13,311 shares in the last quarter. Proficio Capital Partners LLC bought a new position in New York Times in the fourth quarter valued at about $1,200,000. Figure 8 Investment Strategies LLC acquired a new stake in New York Times during the 4th quarter worth approximately $492,000. Baillie Gifford & Co. grew its stake in shares of New York Times by 228.3% in the fourth 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 last quarter. Finally, Lecap Asset Management Ltd. increased its stake in shares of New York Times by 27.6% in the fourth quarter. Lecap Asset Management Ltd. now owns 29,473 shares of the company's stock valued at $1,534,000 after buying an additional 6,376 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

New York Times Stock Down 1.6%

NYSE:NYT traded down $0.90 during trading hours on Tuesday, hitting $56.09. 1,535,196 shares of the company's stock traded hands, compared to its average volume of 1,362,561. The New York Times Company has a 52 week low of $44.83 and a 52 week high of $58.16. The firm has a market cap of $9.15 billion, a P/E ratio of 31.51, a P/E/G ratio of 1.75 and a beta of 1.16. The business's fifty day simple moving average is $51.60 and its two-hundred day simple moving average is $51.62.

New York Times (NYSE:NYT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $635.91 million during the quarter, compared to analysts' expectations of $634.99 million. During the same quarter in the prior year, the company earned $0.31 EPS. The firm's revenue was up 7.1% on a year-over-year basis. On average, analysts expect that The New York Times Company will post 2.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NYT. Morgan Stanley decreased their target price on New York Times from $56.00 to $54.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Wall Street Zen upgraded New York Times from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Finally, 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 research note on Monday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, New York Times has an average rating of "Moderate Buy" and a consensus target price of $56.40.

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.