New York Times (NYSE:NYT) Rating Increased to Buy at StockNews.com

New York Times (NYSE:NYT) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Several other analysts have also recently issued reports on the stock. Citigroup started coverage on shares of New York Times in a research note on Tuesday, March 12th. They issued a “buy” rating and a $52.00 target price on the stock. Argus upgraded shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Monday, March 4th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.67.

New York Times Stock Up 1.1 %

New York Times stock opened at $43.90 on Wednesday. New York Times has a twelve month low of $35.06 and a twelve month high of $49.87. The firm has a 50 day moving average price of $45.42 and a 200-day moving average price of $44.61. The company has a market capitalization of $7.20 billion, a P/E ratio of 31.58 and a beta of 1.02.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.10. New York Times had a net margin of 9.58% and a return on equity of 16.48%. The company had revenue of $676.20 million for the quarter, compared to analysts’ expectations of $680.02 million. During the same period in the prior year, the company posted $0.65 EPS. New York Times’s revenue was up 1.3% compared to the same quarter last year. Equities analysts expect that New York Times will post 1.64 EPS for the current fiscal year.

Insider Activity at New York Times

In related news, CEO Levien Meredith A. Kopit sold 13,543 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $44.11, for a total transaction of $597,381.73. Following the transaction, the chief executive officer now owns 90,759 shares of the company’s stock, valued at approximately $4,003,379.49. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director David S. Perpich sold 3,014 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $44.03, for a total value of $132,706.42. Following the completion of the sale, the director now directly owns 20,813 shares of the company’s stock, valued at approximately $916,396.39. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Levien Meredith A. Kopit sold 13,543 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $44.11, for a total transaction of $597,381.73. Following the completion of the sale, the chief executive officer now directly owns 90,759 shares of the company’s stock, valued at $4,003,379.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,557 shares of company stock valued at $1,029,968. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On New York Times

Institutional investors and hedge funds have recently modified their holdings of the stock. Contravisory Investment Management Inc. bought a new stake in New York Times during the fourth quarter worth about $27,000. Compass Wealth Management LLC bought a new stake in New York Times during the fourth quarter worth about $30,000. GAMMA Investing LLC bought a new stake in New York Times during the fourth quarter worth about $31,000. DekaBank Deutsche Girozentrale bought a new stake in New York Times during the third quarter worth about $37,000. Finally, Pinebridge Investments L.P. bought a new stake in New York Times during the second quarter worth about $39,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

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.