The New York Times Company (NYSE:NYT) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its stake in shares of The New York Times Company (NYSE:NYT) by 5.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,338 shares of the company’s stock after selling 8,055 shares during the quarter. Envestnet Asset Management Inc.’s holdings in New York Times were worth $7,545,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NYT. Oak Family Advisors LLC boosted its position in shares of New York Times by 2.2% during the 2nd quarter. Oak Family Advisors LLC now owns 10,685 shares of the company’s stock worth $547,000 after acquiring an additional 231 shares in the last quarter. Capital Investment Counsel Inc boosted its position in shares of New York Times by 1.7% during the 2nd quarter. Capital Investment Counsel Inc now owns 22,701 shares of the company’s stock worth $1,163,000 after acquiring an additional 380 shares in the last quarter. Signaturefd LLC boosted its position in shares of New York Times by 34.2% during the 2nd quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after acquiring an additional 432 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of New York Times by 3.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 17,222 shares of the company’s stock worth $744,000 after acquiring an additional 527 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of New York Times by 9.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,743 shares of the company’s stock worth $278,000 after acquiring an additional 581 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

New York Times Stock Up 0.3 %

Shares of NYSE NYT opened at $55.32 on Friday. The stock has a market cap of $9.09 billion, a PE ratio of 36.88 and a beta of 1.03. The New York Times Company has a 52-week low of $39.73 and a 52-week high of $56.49. The business has a 50-day moving average price of $54.15 and a 200 day moving average price of $49.78.

New York Times (NYSE:NYT) last announced its earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The firm 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 business’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 EPS. Sell-side analysts anticipate that The New York Times Company will post 1.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NYT. JPMorgan Chase & Co. upped 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 upped their price objective on New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, New York Times currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.67.

Insider Activity at New York Times

In other New York Times news, 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 transaction of $986,736.00. Following the completion of the sale, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other New York Times news, 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 transaction of $986,736.00. Following the completion of the sale, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO William Bardeen sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $54.56, for a total value of $109,120.00. Following the sale, the chief financial officer now directly owns 10,315 shares of the company’s stock, valued at $562,786.40. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.