Rhumbline Advisers Decreases Position in The New York Times Company (NYSE:NYT)

Rhumbline Advisers lessened its holdings in The New York Times Company (NYSE:NYT - Free Report) by 1.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 502,670 shares of the company's stock after selling 5,218 shares during the quarter. Rhumbline Advisers owned 0.31% of New York Times worth $24,932,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Barclays PLC increased its holdings in shares of New York Times by 113.2% in the third quarter. Barclays PLC now owns 123,256 shares of the company's stock worth $6,862,000 after buying an additional 65,438 shares during the period. Trust Point Inc. purchased a new position in New York Times in the 4th quarter worth approximately $292,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in New York Times in the 4th quarter worth approximately $417,000. Sumitomo Mitsui Trust Group Inc. increased its stake in New York Times by 18.8% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,500 shares of the company's stock worth $494,000 after purchasing an additional 1,500 shares during the period. Finally, Lecap Asset Management Ltd. increased its stake in New York Times by 27.6% in the 4th quarter. Lecap Asset Management Ltd. now owns 29,473 shares of the company's stock worth $1,534,000 after purchasing an additional 6,376 shares during the period. Hedge funds and other institutional investors own 95.37% of the company's stock.

New York Times Trading Down 0.2%

Shares of New York Times stock opened at $55.74 on Friday. The company's fifty day simple moving average is $52.00 and its two-hundred day simple moving average is $51.71. The company has a market cap of $9.09 billion, a P/E ratio of 31.31, 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 announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $634.99 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. New York Times's quarterly revenue was up 7.1% on a year-over-year basis. Analysts predict that The New York Times Company will post 2.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other New York Times news, Director David S. Perpich sold 4,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $56.18, for a total value of $224,720.00. Following the sale, the director now owns 27,569 shares in the company, valued at approximately $1,548,826.42. This represents a 12.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William Bardeen sold 2,500 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $56.83, for a total value of $142,075.00. Following the completion of the sale, the executive vice president now owns 16,727 shares in the company, valued at $950,595.41. The trade was a 13.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,490 shares of company stock worth $479,728. Company insiders own 1.90% of the company's stock.

About New York Times

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.

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