Long Corridor Asset Management Ltd Sells 116,200 Shares of The New York Times Company $NYT

Long Corridor Asset Management Ltd trimmed its stake in shares of The New York Times Company (NYSE:NYT - Free Report) by 73.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,300 shares of the company's stock after selling 116,200 shares during the quarter. New York Times makes up 0.2% of Long Corridor Asset Management Ltd's holdings, making the stock its 14th biggest holding. Long Corridor Asset Management Ltd's holdings in New York Times were worth $2,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. 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 acquiring an additional 209,616 shares during the last quarter. AQR Capital Management LLC increased its holdings in New York Times by 10.2% in 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 in the last quarter. Geode Capital Management LLC increased its holdings in New York Times by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 3,922,565 shares of the company's stock worth $272,347,000 after purchasing an additional 50,389 shares in the last quarter. Two Sigma Investments LP increased its holdings in New York Times by 98.5% in 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 in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in New York Times by 77.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,924,396 shares of the company's stock worth $133,592,000 after purchasing an additional 838,305 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Argus upgraded New York Times to a "strong-buy" rating in a report on Thursday, February 19th. Citigroup lifted their target price on New York Times from $77.00 to $94.00 and gave the stock a "buy" rating in a report on Tuesday, March 24th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $95.00 target price on shares of New York Times in a report on Thursday, May 7th. JPMorgan Chase & Co. lifted their target price on New York Times from $74.00 to $82.00 and gave the stock an "overweight" rating in a report on Friday, May 29th. Finally, Barclays lifted their target price on New York Times from $60.00 to $66.00 and gave the stock an "equal weight" rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $81.67.

New York Times Stock Performance

Shares of New York Times stock opened at $74.39 on Friday. The New York Times Company has a 52 week low of $51.03 and a 52 week high of $87.10. The stock has a 50 day moving average price of $78.38 and a two-hundred day moving average price of $74.89. The stock has a market capitalization of $12.04 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 1.51 and a beta of 0.95.

New York Times (NYSE:NYT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $0.12. New York Times had a return on equity of 22.02% and a net margin of 13.18%.The firm had revenue of $712.24 million during the quarter, compared to analysts' expectations of $699.93 million. During the same quarter last year, the firm posted $0.41 earnings per share. The company's revenue for the quarter was up 12.0% compared to the same quarter last year. Research analysts forecast that The New York Times Company will post 2.93 EPS for the current year.

Insider Buying and Selling at New York Times

In other New York Times news, EVP Jacqueline M. Welch sold 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $74.14, for a total value of $296,560.00. Following the completion of the sale, the executive vice president owned 23,873 shares of the company's stock, valued at approximately $1,769,944.22. This trade represents a 14.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP William Bardeen sold 4,121 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $77.85, for a total value of $320,819.85. Following the completion of the sale, the executive vice president directly owned 14,560 shares of the company's stock, valued at $1,133,496. This trade represents a 22.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 17,121 shares of company stock valued at $1,310,920. Company insiders own 1.90% of the company's stock.

New York Times News Summary

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

• Positive Sentiment: The company published a wide mix of high-interest stories, including major political coverage, war and election updates, business analysis, and World Cup reporting, which can help sustain reader traffic and subscription demand.
• Positive Sentiment: Live blogs and fast-moving coverage from The Athletic and the main news desk on topics like the World Cup, Iran conflict, and U.S. politics may boost engagement by keeping readers returning throughout the day.
• Neutral Sentiment: Several interactive election-result pages and live news pages were published, which are typical traffic-generating products but do not by themselves signal a material financial change for NYT.
• Neutral Sentiment: Other articles covered consumer, health care, cultural, and investigative topics; these reinforce The New York Times Company’s broad editorial reach but are unlikely to move the stock on their own.

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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