Bank of Montreal Can Increases Holdings in The New York Times Company (NYSE:NYT)

Bank of Montreal Can raised its stake in The New York Times Company (NYSE:NYT) by 964.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 266,079 shares of the company’s stock after buying an additional 241,093 shares during the quarter. Bank of Montreal Can owned approximately 0.16% of New York Times worth $13,637,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NYT. GAMMA Investing LLC boosted its position in shares of New York Times by 129.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock valued at $72,000 after acquiring an additional 792 shares during the last quarter. Signaturefd LLC boosted its holdings in New York Times by 34.2% in the 2nd quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock valued at $87,000 after purchasing an additional 432 shares during the last quarter. Blue Trust Inc. grew its stake in shares of New York Times by 401.8% in the 2nd quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock valued at $115,000 after buying an additional 1,800 shares during the period. TFO Wealth Partners LLC increased its holdings in shares of New York Times by 84,033.3% during the 4th quarter. TFO Wealth Partners LLC now owns 2,524 shares of the company’s stock worth $124,000 after buying an additional 2,521 shares during the last quarter. Finally, Bailard Inc. purchased a new stake in shares of New York Times during the 2nd quarter valued at approximately $205,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

New York Times Stock Up 0.3 %

NYT opened at $55.32 on Friday. 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 fifty day simple moving average of $54.15 and a 200-day simple moving average of $49.78. The firm has a market cap of $9.09 billion, a P/E ratio of 36.88 and a beta of 1.03.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Barclays increased 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. JPMorgan Chase & Co. increased their price target on New York Times from $56.00 to $58.00 and gave the stock an “overweight” rating in a 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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 firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $53.92, for a total value of $986,736.00. Following the completion of the transaction, the chief executive officer now owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other New York Times news, CEO Levien Meredith A. Kopit sold 18,300 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $53.92, for a total value of $986,736.00. Following the sale, the chief executive officer now owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William Bardeen sold 2,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $54.56, for a total value of $109,120.00. Following the transaction, 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. Company insiders own 2.00% of the company’s stock.

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.