New York Life Investment Management LLC Increases Stock Position in The New York Times Company (NYSE:NYT)

New York Life Investment Management LLC raised its holdings in The New York Times Company (NYSE:NYT) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,193 shares of the company’s stock after purchasing an additional 1,105 shares during the quarter. New York Life Investment Management LLC’s holdings in New York Times were worth $891,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new stake in New York Times in the 4th quarter valued at approximately $27,000. GAMMA Investing LLC purchased a new stake in shares of New York Times during the 4th quarter worth approximately $31,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of New York Times during the 3rd quarter worth approximately $37,000. Covestor Ltd boosted its stake in shares of New York Times by 9.6% during the 3rd quarter. Covestor Ltd now owns 2,659 shares of the company’s stock worth $110,000 after acquiring an additional 232 shares in the last quarter. Finally, NBC Securities Inc. purchased a new stake in shares of New York Times during the 3rd quarter worth approximately $120,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

NYT has been the topic of several research analyst reports. Citigroup initiated coverage on New York Times in a research note on Tuesday, March 12th. They set a “buy” rating and a $52.00 price target on the stock. Argus raised New York Times from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Monday, March 4th. Finally, StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and four 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 target price of $45.67.

New York Times Stock Performance

NYT stock opened at $47.73 on Thursday. The New York Times Company has a 1 year low of $35.06 and a 1 year high of $49.87. The stock’s 50 day moving average price is $43.49 and its 200 day moving average price is $44.89. The firm has a market cap of $7.83 billion, a P/E ratio of 34.34 and a beta of 1.00.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.11. New York Times had a return on equity of 16.48% and a net margin of 9.58%. The firm had revenue of $594.00 million for the quarter, compared to analyst estimates of $591.97 million. During the same quarter in the prior year, the company earned $0.19 EPS. New York Times’s revenue was up 5.9% on a year-over-year basis. On average, research analysts predict that The New York Times Company will post 1.64 earnings per share for the current year.

Insider Buying and Selling at New York Times

In other New York Times news, Director David S. Perpich sold 3,014 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total value of $132,706.42. Following the completion of the transaction, the director now directly owns 20,813 shares in the company, valued at approximately $916,396.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other New York Times news, Director David S. Perpich sold 3,014 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total value of $132,706.42. Following the completion of the transaction, the director now directly owns 20,813 shares in the company, valued at approximately $916,396.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Levien Meredith A. Kopit sold 13,543 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $44.11, for a total value of $597,381.73. Following the completion of the transaction, the chief executive officer now 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 three months, insiders sold 23,557 shares of company stock worth $1,029,968. 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.