R Anthony Benten Sells 1,990 Shares of The New York Times Company (NYSE:NYT) Stock

The New York Times Company (NYSE:NYT - Get Free Report) CAO R Anthony Benten sold 1,990 shares of New York Times stock in a transaction on Friday, May 30th. The shares were sold at an average price of $56.75, for a total transaction of $112,932.50. Following the completion of the transaction, the chief accounting officer now directly owns 39,685 shares in the company, valued at $2,252,123.75. The trade was a 4.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

New York Times Stock Down 0.2%

Shares of NYT stock traded down $0.10 during trading hours on Thursday, hitting $55.74. 872,856 shares of the company were exchanged, compared to its average volume of 1,363,241. The firm has a market cap of $9.09 billion, a PE ratio of 31.31, a PEG ratio of 1.75 and a beta of 1.16. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $58.16. The firm has a fifty day moving average of $51.88 and a 200 day moving average of $51.68.

New York Times (NYSE:NYT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. The business had revenue of $635.91 million for the quarter, compared to analyst estimates of $634.99 million. New York Times had a net margin of 11.36% and a return on equity of 18.51%. The company's revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 EPS. Analysts expect that The New York Times Company will post 2.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

NYT has been the topic of several recent research reports. 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. Guggenheim boosted their price objective on shares of New York Times from $53.00 to $55.00 and gave the stock a "neutral" rating in a research report on Monday. Finally, Morgan Stanley reduced 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. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.40.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NYT. Barclays PLC lifted its holdings in shares of New York Times by 113.2% during the 3rd quarter. Barclays PLC now owns 123,256 shares of the company's stock worth $6,862,000 after acquiring an additional 65,438 shares during the period. Trust Point Inc. acquired a new stake in New York Times during the 4th quarter worth approximately $292,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in New York Times during the 4th quarter worth approximately $417,000. Confluence Wealth Services Inc. increased its position in New York Times by 20.0% during the 4th quarter. Confluence Wealth Services Inc. now owns 24,119 shares of the company's stock worth $1,290,000 after purchasing an additional 4,020 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in New York Times by 18.8% during 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 in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

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.