ProShare Advisors LLC Sells 6,616 Shares of The New York Times Company (NYSE:NYT)

ProShare Advisors LLC lowered its stake in shares of The New York Times Company (NYSE:NYT - Free Report) by 46.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,634 shares of the company's stock after selling 6,616 shares during the quarter. ProShare Advisors LLC's holdings in New York Times were worth $397,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in NYT. Baillie Gifford & Co. lifted its stake in New York Times by 228.3% during 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. Millennium Management LLC lifted its stake in New York Times by 133.6% during the fourth quarter. Millennium Management LLC now owns 1,559,837 shares of the company's stock worth $81,190,000 after purchasing an additional 892,155 shares during the last quarter. Alliancebernstein L.P. lifted its stake in New York Times by 87.6% during the fourth quarter. Alliancebernstein L.P. now owns 1,908,477 shares of the company's stock worth $99,336,000 after purchasing an additional 891,249 shares during the last quarter. Darsana Capital Partners LP lifted its stake in New York Times by 15.0% in the fourth quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company's stock valued at $299,288,000 after buying an additional 750,000 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in New York Times by 497.1% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 703,731 shares of the company's stock valued at $36,629,000 after buying an additional 585,871 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

Analysts Set New Price Targets

NYT has been the topic of a number of research analyst reports. Morgan Stanley lowered their target price on New York Times from $56.00 to $54.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. Wall Street Zen raised New York Times from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Finally, Guggenheim lifted their target price on New York Times from $52.00 to $53.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $56.00.

New York Times Stock Performance

NYT traded up $1.05 during trading on Thursday, reaching $56.49. The company had a trading volume of 2,603,814 shares, compared to its average volume of 1,359,148. The firm's 50-day simple moving average is $51.13 and its 200 day simple moving average is $51.61. The company has a market cap of $9.21 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 1.75 and a beta of 1.16. The New York Times Company has a 12-month low of $44.83 and a 12-month high of $58.16.

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

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.