The New York Times Company (NYSE:NYT) Stock Position Lifted by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its holdings in The New York Times Company (NYSE:NYT – Get Rating) by 24.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,941 shares of the company’s stock after acquiring an additional 24,266 shares during the period. Russell Investments Group Ltd. owned 0.08% of New York Times worth $4,056,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NYT. Signaturefd LLC grew its position in New York Times by 52.5% in the third quarter. Signaturefd LLC now owns 1,144 shares of the company’s stock worth $33,000 after acquiring an additional 394 shares in the last quarter. Harvest Fund Management Co. Ltd grew its position in New York Times by 68.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,055 shares of the company’s stock worth $34,000 after acquiring an additional 430 shares in the last quarter. Wipfli Financial Advisors LLC bought a new stake in New York Times in the third quarter worth approximately $40,000. FourThought Financial LLC bought a new stake in New York Times in the third quarter worth approximately $46,000. Finally, CWM LLC grew its position in New York Times by 37.7% in the third quarter. CWM LLC now owns 1,709 shares of the company’s stock worth $49,000 after acquiring an additional 468 shares in the last quarter. 99.15% of the stock is owned by institutional investors.

New York Times Price Performance

Shares of New York Times stock opened at $36.70 on Thursday. The firm has a market capitalization of $6.04 billion, a PE ratio of 31.91 and a beta of 0.99. The company’s fifty day moving average price is $38.36 and its two-hundred day moving average price is $36.41. The New York Times Company has a 52-week low of $27.58 and a 52-week high of $42.40.

New York Times (NYSE:NYT – Get Rating) last announced its quarterly earnings results on Wednesday, May 10th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.03. The firm had revenue of $560.74 million for the quarter, compared to analyst estimates of $564.37 million. New York Times had a net margin of 8.21% and a return on equity of 13.49%. During the same quarter in the previous year, the firm posted $0.19 EPS. Analysts predict that The New York Times Company will post 1.29 earnings per share for the current fiscal year.

New York Times announced that its board has authorized a stock buyback program on Wednesday, February 8th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at New York Times

In other New York Times news, CEO Levien Meredith A. Kopit sold 29,758 shares of the business’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $40.05, for a total value of $1,191,807.90. Following the sale, the chief executive officer now owns 74,610 shares of the company’s stock, valued at approximately $2,988,130.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on NYT shares. Barclays decreased their target price on shares of New York Times from $36.00 to $33.00 in a research report on Friday, May 12th. Morgan Stanley boosted their price objective on shares of New York Times from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 9th. JPMorgan Chase & Co. boosted their price objective on shares of New York Times from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 15th. Finally, StockNews.com cut shares of New York Times from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $36.58.

New York Times Profile

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The New York Times Co is a media organization, which engages in creating, collecting, and distributing news and information. It offers news products and other interest-specific products, and related content and services. It offers newspapers, print, and digital products and investments. The firm also manages The New York Times, NYTimes.com, and mobile applications.