Legal & General Group Plc Has $17.11 Million Position in The New York Times Company $NYT

Key Points

• Legal & General Group Plc cut its stake in The New York Times Company by 20.2% in the fourth quarter, ending with 246,395 shares worth about $17.1 million.
• The New York Times beat earnings expectations for the latest quarter, posting $0.61 EPS versus the $0.49 estimate, while revenue rose 12% year over year to $712.24 million.
• Sentiment around the stock is mixed: analysts currently rate NYT as a Moderate Buy overall, but recent insider sales and a law-firm investigation add some headline risk.

Legal & General Group Plc lowered its holdings in shares of The New York Times Company (NYSE:NYT - Free Report) by 20.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 246,395 shares of the company's stock after selling 62,429 shares during the quarter. Legal & General Group Plc owned 0.15% of New York Times worth $17,105,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Wellington Management Group LLP raised its position in shares of New York Times by 4.6% during the third quarter. Wellington Management Group LLP now owns 4,769,973 shares of the company's stock worth $273,796,000 after purchasing an additional 209,616 shares during the period. AQR Capital Management LLC raised its position in shares of New York Times by 10.2% during the third quarter. AQR Capital Management LLC now owns 4,613,289 shares of the company's stock worth $264,803,000 after purchasing an additional 425,401 shares during the period. Two Sigma Investments LP raised its position in shares of New York Times by 98.5% during the third quarter. Two Sigma Investments LP now owns 2,055,628 shares of the company's stock worth $117,993,000 after purchasing an additional 1,020,031 shares during the period. Capital Research Global Investors raised its position in shares of New York Times by 0.3% during the third quarter. Capital Research Global Investors now owns 1,692,846 shares of the company's stock worth $97,169,000 after purchasing an additional 4,782 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of New York Times by 11.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,588,187 shares of the company's stock worth $91,162,000 after purchasing an additional 164,928 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

New York Times Stock Up 1.5%

NYT stock opened at $76.35 on Tuesday. The business has a 50 day moving average price of $79.75 and a two-hundred day moving average price of $74.27. The company has a market cap of $12.36 billion, a price-to-earnings ratio of 32.77, a P/E/G ratio of 1.57 and a beta of 0.98. The New York Times Company has a twelve month low of $51.03 and a twelve month high of $87.10.

New York Times (NYSE:NYT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.49 by $0.12. The firm had revenue of $712.24 million during the quarter, compared to the consensus estimate of $699.93 million. New York Times had a return on equity of 22.02% and a net margin of 13.18%.The business's revenue was up 12.0% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share. On average, equities research analysts anticipate that The New York Times Company will post 2.9 EPS for the current fiscal year.

Insider Buying and Selling

In other New York Times news, EVP William Bardeen sold 4,121 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $77.85, for a total value of $320,819.85. Following the completion of the transaction, the executive vice president directly owned 14,560 shares in the company, valued at $1,133,496. This trade represents a 22.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David S. Perpich sold 9,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $77.06, for a total value of $693,540.00. Following the completion of the transaction, the director owned 28,469 shares of the company's stock, valued at approximately $2,193,821.14. This represents a 24.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.90% of the stock is owned by company insiders.

New York Times News Summary

Here are the key news stories impacting New York Times this week:

• Positive Sentiment: The company’s publisher publicly criticized AI firms for “brazen theft” of news content, reinforcing NYT’s push to protect its journalism business and potentially strengthen its negotiating position around licensing and copyright. New York Times publisher slams AI companies' 'brazen theft' from news outlets
• Neutral Sentiment: Several new pieces from The New York Times and The Athletic highlight continued content production across politics, sports, entertainment, and culture, underscoring the breadth of the company’s subscription and advertising portfolio, though they do not appear to be a major direct stock catalyst. Article: Ben Brown levels up, Lucas Erceg is droppable and more fantasy baseball takeaways
• Neutral Sentiment: Additional reporting on topics like U.S. politics and European soccer unrest adds to audience engagement, but these articles are unlikely to materially affect NYT’s financial outlook on their own. Article: They Voted for Trump. Here’s How They Feel About High Gas Prices.
• Negative Sentiment: Investors were also alerted to a law-firm investigation into The New York Times Company, which can create legal uncertainty and headline risk for shares. Article: NYT Investors Have the Opportunity to Join Investigation of The New York Times Company with the Schall Law Firm

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NYT shares. Guggenheim lifted their target price on New York Times from $63.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Wall Street Zen raised New York Times from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Weiss Ratings reissued a "buy (b)" rating on shares of New York Times in a research report on Tuesday, April 21st. Bank of America started coverage on New York Times in a research report on Wednesday, April 22nd. They issued a "neutral" rating and a $84.00 target price on the stock. Finally, Barclays lifted their target price on New York Times from $60.00 to $66.00 and gave the company an "equal weight" rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, New York Times presently has an average rating of "Moderate Buy" and an average price target of $81.67.

About New York Times

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.

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