The New York Times Company (NYSE:NYT) Director David S. Perpich Sells 4,000 Shares

The New York Times Company (NYSE:NYT - Get Free Report) Director David S. Perpich sold 4,000 shares of the firm'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 value of $224,720.00. Following the completion of the sale, the director now directly owns 27,569 shares of the company's stock, valued at $1,548,826.42. This trade represents a 12.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

New York Times Trading Down 0.3%

Shares of NYT stock traded down $0.15 during trading on Friday, hitting $55.61. The company's stock had a trading volume of 246,897 shares, compared to its average volume of 1,361,687. The company has a market cap of $9.07 billion, a PE ratio of 31.24, a P/E/G ratio of 1.75 and a beta of 1.16. The New York Times Company has a 52 week low of $44.83 and a 52 week high of $58.16. The business has a fifty day moving average of $52.00 and a 200-day moving average of $51.71.

New York Times (NYSE:NYT - Get Free Report) last issued its 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 firm had revenue of $635.91 million for the quarter, compared to analyst estimates of $634.99 million. During the same period in the previous year, the company posted $0.31 earnings per share. The business's revenue was up 7.1% on a year-over-year basis. As a group, research analysts predict that The New York Times Company will post 2.08 EPS for the current year.

Institutional Trading of New York Times

Several institutional investors and hedge funds have recently bought and sold shares of NYT. Vanguard Group Inc. boosted its stake in New York Times by 1.2% during the first quarter. Vanguard Group Inc. now owns 15,987,404 shares of the company's stock valued at $792,975,000 after buying an additional 187,056 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in shares of New York Times by 7.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 10,392,977 shares of the company's stock worth $515,492,000 after purchasing an additional 698,433 shares in the last quarter. Darsana Capital Partners LP grew its holdings in shares of New York Times by 15.0% during the fourth quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company's stock worth $299,288,000 after purchasing an additional 750,000 shares in the last quarter. Geode Capital Management LLC raised its stake in New York Times by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 4,035,335 shares of the company's stock valued at $210,084,000 after purchasing an additional 102,519 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in New York Times by 13.3% in the fourth quarter. Renaissance Technologies LLC now owns 3,570,380 shares of the company's stock valued at $185,838,000 after purchasing an additional 418,155 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wall Street Zen upgraded shares of New York Times from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Morgan Stanley lowered their target price on shares of 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. Finally, Guggenheim lifted their price target on New York Times from $53.00 to $55.00 and gave the company a "neutral" rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, New York Times currently has an average rating of "Moderate Buy" and a consensus target price of $56.40.

New York Times Company 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.