UMB Bank n.a. Raises Stock Holdings in The New York Times Company $NYT

UMB Bank n.a. grew its stake in shares of The New York Times Company (NYSE:NYT) by 79.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,675 shares of the company’s stock after buying an additional 741 shares during the period. UMB Bank n.a.’s holdings in New York Times were worth $94,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its stake in New York Times by 690.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 846 shares of the company’s stock worth $42,000 after acquiring an additional 739 shares during the period. American National Bank & Trust purchased a new stake in shares of New York Times in the first quarter worth $45,000. WPG Advisers LLC bought a new stake in shares of New York Times during the 1st quarter valued at $60,000. Bartlett & CO. Wealth Management LLC purchased a new position in shares of New York Times during the 1st quarter valued at $99,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of New York Times during the 1st quarter valued at $115,000. 95.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Zacks Research lowered New York Times from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Guggenheim increased their target price on New York Times from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Morgan Stanley boosted their price target on New York Times from $54.00 to $59.00 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Barclays set a $52.00 price target on New York Times and gave the stock an “equal weight” rating in a research note on Thursday, August 7th. Finally, Evercore ISI lifted their price objective on shares of New York Times from $60.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.33.

Insiders Place Their Bets

In other news, EVP Jacqueline M. Welch sold 5,500 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $60.04, for a total value of $330,220.00. Following the sale, the executive vice president directly owned 14,470 shares in the company, valued at $868,778.80. The trade was a 27.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William Bardeen sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total transaction of $290,200.00. Following the sale, the executive vice president owned 11,243 shares in the company, valued at $652,543.72. This represents a 30.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

New York Times Price Performance

NYSE:NYT opened at $57.35 on Thursday. The company has a market cap of $9.34 billion, a price-to-earnings ratio of 29.56, a PEG ratio of 1.46 and a beta of 1.16. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $62.24. The stock’s 50 day simple moving average is $57.30 and its two-hundred day simple moving average is $54.19.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, August 6th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The firm had revenue of $685.90 million during the quarter, compared to the consensus estimate of $670.22 million. During the same period in the prior year, the company earned $0.45 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, analysts anticipate that The New York Times Company will post 2.08 EPS for the current year.

About New York Times

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.