The New York Times Company (NYSE:NYT - Get Free Report) EVP William Bardeen sold 2,500 shares of the firm's stock in a transaction on Friday, May 30th. The shares were 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 directly owns 16,727 shares in the company, valued at approximately $950,595.41. This represents a 13.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
New York Times Price Performance
NYT stock traded down $0.10 during midday trading on Thursday, reaching $55.74. The company had a trading volume of 872,856 shares, compared to its average volume of 1,363,241. The firm has a 50-day moving average price of $51.88 and a 200-day moving average price of $51.68. The company has a market capitalization of $9.09 billion, a P/E ratio of 31.31, a P/E/G 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.
New York Times (NYSE:NYT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $634.99 million. During the same period in the previous year, the business earned $0.31 earnings per share. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities analysts predict that The New York Times Company will post 2.08 EPS for the current year.
Institutional Trading of New York Times
A number of institutional investors have recently modified their holdings of the company. Strs Ohio bought a new position in New York Times in the first quarter worth about $1,532,000. Mattson Financial Services LLC raised its stake in New York Times by 3.6% in the first quarter. Mattson Financial Services LLC now owns 19,246 shares of the company's stock worth $955,000 after buying an additional 673 shares in the last quarter. Acadian Asset Management LLC raised its stake in New York Times by 383.0% in the first quarter. Acadian Asset Management LLC now owns 1,765,338 shares of the company's stock worth $87,538,000 after buying an additional 1,399,865 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in New York Times by 690.7% in the first quarter. Geneos Wealth Management Inc. now owns 846 shares of the company's stock worth $42,000 after buying an additional 739 shares in the last quarter. Finally, Focus Partners Wealth raised its stake in New York Times by 52.2% in the first quarter. Focus Partners Wealth now owns 11,640 shares of the company's stock worth $577,000 after buying an additional 3,990 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages recently issued reports on NYT. Guggenheim raised their target price on New York Times from $53.00 to $55.00 and gave the stock a "neutral" rating in a research report on Monday. Wall Street Zen upgraded New York Times from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Finally, Morgan Stanley decreased their price target on New York Times from $56.00 to $54.00 and set an "equal weight" rating for the company 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's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.40.
Check Out Our Latest Research Report on New York Times
New York Times Company Profile
(
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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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