Van ECK Associates Corp Purchases 12,717 Shares of The New York Times Company (NYSE:NYT)

Van ECK Associates Corp grew its holdings in shares of The New York Times Company (NYSE:NYT) by 45.2% in the fourth quarter, HoldingsChannel reports. The fund owned 40,869 shares of the company’s stock after purchasing an additional 12,717 shares during the quarter. Van ECK Associates Corp’s holdings in New York Times were worth $2,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its holdings in New York Times by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,769,714 shares of the company’s stock worth $72,912,000 after buying an additional 27,345 shares during the period. Northern Trust Corp grew its holdings in shares of New York Times by 3.2% in the third quarter. Northern Trust Corp now owns 1,478,661 shares of the company’s stock valued at $60,921,000 after purchasing an additional 45,677 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in shares of New York Times by 232.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,038,033 shares of the company’s stock worth $42,767,000 after buying an additional 726,231 shares in the last quarter. Baillie Gifford & Co. increased its stake in New York Times by 9.7% during the third quarter. Baillie Gifford & Co. now owns 922,490 shares of the company’s stock worth $38,007,000 after acquiring an additional 81,217 shares during the last quarter. Finally, Burgundy Asset Management Ltd. raised its holdings in New York Times by 17.1% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 756,812 shares of the company’s stock valued at $31,181,000 after buying an additional 110,706 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

New York Times Trading Up 3.2 %

Shares of NYSE NYT opened at $47.73 on Thursday. The stock has a market capitalization of $7.83 billion, a PE ratio of 34.34 and a beta of 1.00. The New York Times Company has a 12-month low of $35.06 and a 12-month high of $49.87. The stock’s fifty day simple moving average is $43.49 and its two-hundred day simple moving average is $44.89.

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

Insider Buying and Selling

In other New York Times news, EVP Diane Brayton sold 7,000 shares of New York Times stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total value of $299,880.00. Following the transaction, the executive vice president now directly owns 39,312 shares of the company’s stock, valued at $1,684,126.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other New York Times news, EVP Diane Brayton sold 7,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $42.84, for a total value of $299,880.00. Following the completion of the sale, the executive vice president now owns 39,312 shares of the company’s stock, valued at $1,684,126.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David S. Perpich sold 3,014 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $44.03, for a total transaction of $132,706.42. Following the transaction, the director now owns 20,813 shares in the company, valued at approximately $916,396.39. The disclosure for this sale can be found here. Insiders sold a total of 23,557 shares of company stock worth $1,029,968 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on NYT shares. Argus upgraded New York Times from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Monday, March 4th. Citigroup assumed coverage on New York Times in a report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price objective on the stock. Finally, StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.67.

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.