7,486 Shares in The New York Times Company (NYSE:NYT) Bought by FCF Advisors LLC

FCF Advisors LLC acquired a new position in The New York Times Company (NYSE:NYT) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 7,486 shares of the company’s stock, valued at approximately $324,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NYT. Norges Bank purchased a new stake in shares of New York Times in the fourth quarter worth $89,754,000. Qube Research & Technologies Ltd raised its position in New York Times by 232.9% during the third quarter. Qube Research & Technologies Ltd now owns 1,038,033 shares of the company’s stock valued at $42,767,000 after purchasing an additional 726,231 shares in the last quarter. Franklin Resources Inc. raised its position in New York Times by 15.7% during the fourth quarter. Franklin Resources Inc. now owns 2,997,420 shares of the company’s stock valued at $146,844,000 after purchasing an additional 406,958 shares in the last quarter. Junto Capital Management LP purchased a new stake in New York Times during the fourth quarter valued at about $18,255,000. Finally, Los Angeles Capital Management LLC purchased a new stake in New York Times during the fourth quarter valued at about $15,993,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Buying and Selling at New York Times

In other New York Times news, CEO Levien Meredith A. Kopit sold 12,548 shares of New York Times stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $47.72, for a total transaction of $598,790.56. Following the sale, the chief executive officer now directly owns 120,072 shares of the company’s stock, valued at approximately $5,729,835.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO R Anthony Benten sold 5,171 shares of New York Times stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $48.98, for a total transaction of $253,275.58. Following the completion of the transaction, the chief accounting officer now directly owns 38,576 shares in the company, valued at $1,889,452.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Levien Meredith A. Kopit sold 12,548 shares of New York Times stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $47.72, for a total transaction of $598,790.56. Following the transaction, the chief executive officer now owns 120,072 shares of the company’s stock, valued at $5,729,835.84. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NYT shares. Citigroup started coverage on New York Times in a research report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price target on the stock. Evercore ISI lifted their price objective on New York Times from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Argus upgraded New York Times from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Monday, March 4th. Finally, StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.71.

New York Times Stock Performance

Shares of NYSE NYT traded up $0.43 during trading hours on Monday, hitting $51.35. The company’s stock had a trading volume of 98,424 shares, compared to its average volume of 1,206,433. The stock has a market cap of $8.44 billion, a price-to-earnings ratio of 33.95 and a beta of 1.05. The New York Times Company has a 12 month low of $37.66 and a 12 month high of $51.98. The business has a 50-day simple moving average of $47.55 and a 200-day simple moving average of $46.23.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.11. The business had revenue of $594.00 million for the quarter, compared to analysts’ expectations of $591.97 million. New York Times had a return on equity of 17.33% and a net margin of 10.19%. The business’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 EPS. On average, equities research analysts forecast that The New York Times Company will post 1.77 EPS for the current year.

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.