New York Times (NYSE:NYT) Director Sells $693,540.00 in Stock

The New York Times Company (NYSE:NYT) Director David Perpich sold 9,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $77.06, for a total transaction of $693,540.00. Following the completion of the transaction, the director directly owned 28,469 shares of the company’s stock, valued at approximately $2,193,821.14. This trade represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

New York Times Stock Performance

NYSE NYT traded up $0.61 on Tuesday, hitting $77.94. 1,745,745 shares of the stock were exchanged, compared to its average volume of 2,294,907. The stock has a fifty day moving average price of $81.15 and a two-hundred day moving average price of $72.46. The firm has a market capitalization of $12.57 billion, a P/E ratio of 33.45, a P/E/G ratio of 1.70 and a beta of 0.98. The New York Times Company has a 52-week low of $51.03 and a 52-week high of $87.10.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.49 by $0.12. New York Times had a net margin of 13.18% and a return on equity of 22.02%. The company had revenue of $712.24 million during the quarter, compared to analyst estimates of $699.93 million. During the same period in the previous year, the firm earned $0.41 earnings per share. New York Times’s quarterly revenue was up 12.0% compared to the same quarter last year. Sell-side analysts expect that The New York Times Company will post 2.84 earnings per share for the current fiscal year.

New York Times News Summary

Here are the key news stories impacting New York Times this week:

• Positive Sentiment: Zacks called New York Times Co. a strong momentum stock, reinforcing investor interest in the shares. Zacks article
• Positive Sentiment: Seeking Alpha said NYT posted strong Q1 results, led by 31.6% digital ad growth and solid subscriber gains, which supports the company’s fundamentals. Seeking Alpha article
• Neutral Sentiment: The company published several timely, high-interest stories on inflation, war, politics, and consumer costs that could help traffic and engagement, but the direct stock impact is uncertain. NYT inflation article
• Neutral Sentiment: Additional coverage of sports, culture, and dining likely supports audience engagement, though these items are not major stock drivers on their own. Best Restaurants in NYC

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NYT shares. Guggenheim boosted their price target on New York Times from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded New York Times from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays boosted their price target on New York Times from $60.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $95.00 price target on shares of New York Times in a research note on Thursday, May 7th. Finally, Evercore restated an “outperform” rating and set a $92.00 price target on shares of New York Times in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $80.78.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Berkshire Hathaway Inc acquired a new position in shares of New York Times during the 4th quarter worth approximately $351,664,000. Bank of Montreal Can raised its stake in shares of New York Times by 10,018.3% during the 4th quarter. Bank of Montreal Can now owns 2,316,172 shares of the company’s stock worth $160,789,000 after buying an additional 2,293,281 shares during the period. AQR Capital Management LLC raised its stake in shares of New York Times by 78.1% during the 2nd quarter. AQR Capital Management LLC now owns 4,187,888 shares of the company’s stock worth $233,265,000 after buying an additional 1,836,788 shares during the period. Egerton Capital UK LLP acquired a new position in shares of New York Times during the 4th quarter worth approximately $97,882,000. Finally, Two Sigma Investments LP raised its stake in shares of New York Times by 98.5% during the 3rd quarter. Two Sigma Investments LP now owns 2,055,628 shares of the company’s stock worth $117,993,000 after buying an additional 1,020,031 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

About New York Times

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.