Twinbeech Capital LP Acquires 21,316 Shares of The New York Times Company (NYSE:NYT)

Twinbeech Capital LP lifted its stake in The New York Times Company (NYSE:NYT) by 306.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,261 shares of the company’s stock after acquiring an additional 21,316 shares during the period. Twinbeech Capital LP’s holdings in New York Times were worth $1,471,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in New York Times by 511.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company’s stock worth $25,000 after purchasing an additional 394 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in shares of New York Times in the fourth quarter worth about $36,000. UMB Bank n.a. boosted its position in shares of New York Times by 61.4% in the fourth quarter. UMB Bank n.a. now owns 744 shares of the company’s stock valued at $39,000 after acquiring an additional 283 shares during the period. Smartleaf Asset Management LLC grew its stake in New York Times by 27.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock valued at $60,000 after acquiring an additional 247 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in New York Times by 12.6% during the 4th quarter. Bessemer Group Inc. now owns 1,895 shares of the company’s stock worth $99,000 after acquiring an additional 212 shares during the period. 95.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

New York Times Stock Performance

Shares of NYSE:NYT opened at $54.80 on Thursday. The firm has a market capitalization of $8.94 billion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 1.75 and a beta of 1.16. The New York Times Company has a 52-week low of $44.83 and a 52-week high of $58.16. The firm has a fifty day moving average of $50.46 and a 200 day moving average of $51.59.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The firm had revenue of $635.91 million during the quarter, compared to analysts’ expectations of $634.99 million. New York Times had a return on equity of 18.51% and a net margin of 11.36%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 EPS. On average, sell-side analysts forecast that The New York Times Company will post 2.08 EPS for the current fiscal year.

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.