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

Russell Investments Group Ltd. cut its stake in shares of The New York Times Company (NYSE:NYT) by 18.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 107,325 shares of the company’s stock after selling 23,679 shares during the quarter. Russell Investments Group Ltd.’s holdings in New York Times were worth $5,258,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Covestor Ltd grew 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 valued at $110,000 after buying an additional 232 shares during the period. Fifth Third Bancorp grew its stake in shares of New York Times by 2.3% during the 3rd quarter. Fifth Third Bancorp now owns 12,134 shares of the company’s stock valued at $500,000 after buying an additional 276 shares during the period. Treasurer of the State of North Carolina grew its stake in shares of New York Times by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 70,924 shares of the company’s stock valued at $2,922,000 after buying an additional 360 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in New York Times by 1.7% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 24,576 shares of the company’s stock worth $1,013,000 after purchasing an additional 420 shares during the period. Finally, Victory Capital Management Inc. boosted its position in New York Times by 1.6% during the 3rd quarter. Victory Capital Management Inc. now owns 29,091 shares of the company’s stock worth $1,199,000 after purchasing an additional 458 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Stock Up 0.5 %

NYT opened at $47.98 on Friday. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 34.51 and a beta of 1.00. The New York Times Company has a fifty-two week low of $35.06 and a fifty-two week high of $49.87. The company’s 50-day moving average price is $43.57 and its 200 day moving average price is $44.91.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.11. New York Times had a net margin of 9.58% and a return on equity of 16.48%. 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 business earned $0.19 earnings per share. New York Times’s quarterly revenue was up 5.9% on a year-over-year basis. Research analysts anticipate that The New York Times Company will post 1.64 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on NYT shares. Evercore ISI upped their price target on shares of New York Times from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Citigroup assumed 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. Finally, Argus upgraded shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Monday, March 4th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, New York Times has a consensus rating of “Moderate Buy” and a consensus price target of $46.71.

Insiders Place Their Bets

In other New York Times news, CEO Levien Meredith A. Kopit sold 13,543 shares of the company’s stock in a transaction dated 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 in the company, 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 New York Times news, CEO Levien Meredith A. Kopit sold 13,543 shares of the company’s stock in a transaction dated 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 in the company, 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. Also, EVP Diane Brayton sold 7,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $42.84, for a total transaction of $299,880.00. Following the completion of the transaction, the executive vice president now owns 39,312 shares of the company’s stock, valued at approximately $1,684,126.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,557 shares of company stock worth $1,029,968. Insiders own 2.00% of the company’s stock.

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.