The New York Times Company (NYSE:NYT) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC grew its holdings in shares of The New York Times Company (NYSE:NYT) by 171.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,487 shares of the company’s stock after buying an additional 18,635 shares during the quarter. Hsbc Holdings PLC’s holdings in New York Times were worth $1,510,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NYT. Vanguard Personalized Indexing Management LLC increased its position in New York Times by 3.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 18,489 shares of the company’s stock worth $947,000 after buying an additional 638 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in New York Times by 2.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 11,867 shares of the company’s stock worth $608,000 after acquiring an additional 247 shares during the period. Meiji Yasuda Asset Management Co Ltd. acquired a new position in New York Times during the second quarter worth about $211,000. Renaissance Technologies LLC grew its holdings in New York Times by 19.8% during the second quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock worth $149,131,000 after acquiring an additional 482,200 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of New York Times by 22.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,424,700 shares of the company’s stock valued at $124,164,000 after purchasing an additional 438,680 shares during the period. 95.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on NYT. JPMorgan Chase & Co. raised their price objective on New York Times from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Barclays boosted their target price on New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.67.

New York Times Trading Up 0.3 %

NYSE:NYT opened at $55.32 on Friday. The business’s 50-day moving average price is $54.09 and its two-hundred day moving average price is $49.70. The firm has a market capitalization of $9.09 billion, a price-to-earnings ratio of 36.88 and a beta of 1.03. The New York Times Company has a 1-year low of $39.73 and a 1-year high of $56.49.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. The business had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $624.82 million. New York Times had a return on equity of 17.45% and a net margin of 10.81%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $0.38 EPS. Sell-side analysts predict that The New York Times Company will post 1.9 earnings per share for the current year.

Insider Transactions at New York Times

In related news, CEO Levien Meredith A. Kopit sold 18,300 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $53.92, for a total transaction of $986,736.00. Following the sale, the chief executive officer now owns 101,772 shares in the company, valued at approximately $5,487,546.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO William Bardeen sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $54.56, for a total transaction of $109,120.00. Following the transaction, the chief financial officer now directly owns 10,315 shares of the company’s stock, valued at approximately $562,786.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $53.92, for a total value of $986,736.00. Following the transaction, the chief executive officer now directly owns 101,772 shares in the company, valued at $5,487,546.24. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

New York Times 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.