The New York Times Company (NYSE:NYT) Stake Lowered by Gotham Asset Management LLC

Gotham Asset Management LLC cut its stake in shares of The New York Times Company (NYSE:NYT) by 35.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,854 shares of the company’s stock after selling 3,699 shares during the quarter. Gotham Asset Management LLC’s holdings in New York Times were worth $357,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Graham Capital Management L.P. grew its holdings in shares of New York Times by 288.3% during the fourth quarter. Graham Capital Management L.P. now owns 115,301 shares of the company’s stock valued at $6,001,000 after purchasing an additional 85,607 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of New York Times by 19.3% during the fourth quarter. Focus Partners Wealth now owns 7,650 shares of the company’s stock valued at $398,000 after purchasing an additional 1,240 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in shares of New York Times by 1.1% during the fourth quarter. Ensign Peak Advisors Inc now owns 77,531 shares of the company’s stock valued at $4,035,000 after purchasing an additional 865 shares during the last quarter. Ethic Inc. grew its holdings in shares of New York Times by 64.2% during the fourth quarter. Ethic Inc. now owns 10,248 shares of the company’s stock valued at $533,000 after purchasing an additional 4,006 shares during the last quarter. Finally, Fiduciary Trust Co grew its holdings in shares of New York Times by 19.2% during the fourth quarter. Fiduciary Trust Co now owns 15,067 shares of the company’s stock valued at $784,000 after purchasing an additional 2,425 shares during the last quarter. 95.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a report on Friday, April 11th. Guggenheim raised their target price on New York Times from $52.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Finally, Morgan Stanley lowered their target price on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.00.

New York Times Stock Performance

Shares of NYT stock opened at $55.37 on Wednesday. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $58.16. The stock has a market cap of $9.03 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 1.75 and a beta of 1.16. The business’s fifty day moving average is $50.35 and its 200-day moving average is $51.56.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. The company had revenue of $635.91 million for the quarter, compared to analysts’ expectations of $634.99 million. During the same period last year, the firm earned $0.31 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities research analysts predict that The New York Times Company will post 2.08 earnings per share for the current year.

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.