The New York Times Company (NYSE:NYT) Shares Sold by Man Group plc

Man Group plc cut its stake in The New York Times Company (NYSE:NYT - Free Report) by 37.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 136,309 shares of the company's stock after selling 82,299 shares during the period. Man Group plc owned approximately 0.08% of New York Times worth $7,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in NYT. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of New York Times by 511.7% in the 4th 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 during the period. Mountain Hill Investment Partners Corp. acquired a new stake in New York Times during the fourth quarter worth $36,000. UMB Bank n.a. increased its stake in New York Times by 61.4% during the fourth quarter. UMB Bank n.a. now owns 744 shares of the company's stock worth $39,000 after acquiring an additional 283 shares during the last quarter. Smartleaf Asset Management LLC raised its position 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 valued at $60,000 after purchasing an additional 247 shares during the period. Finally, Bessemer Group Inc. lifted its stake in shares of New York Times by 12.6% in the 4th quarter. Bessemer Group Inc. now owns 1,895 shares of the company's stock valued at $99,000 after purchasing an additional 212 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

New York Times Price Performance

Shares of NYSE NYT traded up $0.53 during midday trading on Friday, hitting $55.42. The company's stock had a trading volume of 924,581 shares, compared to its average volume of 1,348,793. The firm has a market capitalization of $9.04 billion, a price-to-earnings ratio of 31.14, a price-to-earnings-growth ratio of 1.75 and a beta of 1.16. The business's fifty day simple moving average is $50.73 and its two-hundred day simple moving average is $51.56. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $58.16.

New York Times (NYSE:NYT - Get Free Report) last posted its quarterly earnings results 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 return on equity of 18.51% and a net margin of 11.36%. The company had revenue of $635.91 million for the quarter, compared to analyst estimates of $634.99 million. During the same quarter last year, the company earned $0.31 EPS. New York Times's revenue for the quarter was up 7.1% compared to the same quarter last year. Analysts anticipate that The New York Times Company will post 2.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Guggenheim raised their price objective on New York Times from $52.00 to $53.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Wall Street Zen upgraded shares of New York Times from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Finally, Morgan Stanley lowered their price objective on shares of New York Times from $56.00 to $54.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

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.