GAMMA Investing LLC lifted its stake in shares of The New York Times Company (NYSE:NYT - Free Report) by 4,367.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 112,840 shares of the company's stock after acquiring an additional 110,314 shares during the period. GAMMA Investing LLC owned 0.07% of New York Times worth $5,597,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. 111 Capital purchased a new position in New York Times in the fourth quarter valued at $342,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of New York Times during the 4th quarter worth $15,659,000. Jefferies Financial Group Inc. purchased a new position in New York Times in the 4th quarter valued at approximately $631,000. Putney Financial Group LLC purchased a new stake in shares of New York Times in the 4th quarter worth about $102,000. Finally, Burgundy Asset Management Ltd. grew its holdings in New York Times by 16.4% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,407,458 shares of the company's stock valued at $73,258,000 after buying an additional 197,859 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.
New York Times Stock Performance
NYSE NYT traded up $0.37 during trading on Wednesday, reaching $55.70. 1,477,213 shares of the company traded hands, compared to its average volume of 1,367,823. The stock's 50 day moving average price is $52.37 and its two-hundred day moving average price is $51.76. The New York Times Company has a 1-year low of $44.83 and a 1-year high of $58.16. The company has a market cap of $9.08 billion, a price-to-earnings ratio of 31.29, a P/E/G ratio of 1.75 and a beta of 1.13.
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 (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $635.91 million for the quarter, compared to analyst estimates of $634.99 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research analysts expect that The New York Times Company will post 2.08 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of New York Times from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Guggenheim boosted their price objective on New York Times from $53.00 to $55.00 and gave the company a "neutral" rating in a report on Monday, June 2nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $56.40.
View Our Latest Stock Report on New York Times
Insider Activity at New York Times
In other news, EVP William Bardeen sold 2,500 shares of New York Times stock in a transaction on Friday, May 30th. The stock was sold at an average price of $56.83, for a total transaction of $142,075.00. Following the completion of the sale, the executive vice president now owns 16,727 shares of the company's stock, valued at approximately $950,595.41. This trade represents a 13.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David S. Perpich sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $56.18, for a total transaction of $224,720.00. Following the completion of the transaction, the director now owns 27,569 shares of the company's stock, valued at $1,548,826.42. The trade was a 12.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,490 shares of company stock valued at $479,728. Corporate insiders own 1.90% of the company's stock.
About New York Times
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Free Report)
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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