The New York Times Company (NYSE:NYT) EVP Sells $142,075.00 in Stock

The New York Times Company (NYSE:NYT) EVP William Bardeen sold 2,500 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $56.83, for a total transaction of $142,075.00. Following the transaction, the executive vice president now directly owns 16,727 shares in the company, valued at $950,595.41. This trade represents a 13.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

New York Times Price Performance

NYSE:NYT opened at $55.74 on Friday. The company’s 50-day simple moving average is $52.00 and its 200 day simple moving average is $51.71. The firm has a market capitalization of $9.09 billion, a P/E ratio of 31.31, a PEG ratio of 1.75 and a beta of 1.16. The New York Times Company has a one year low of $44.83 and a one year high of $58.16.

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

Analysts Set New Price Targets

Several equities research analysts have commented on NYT shares. Guggenheim increased their price objective on shares of New York Times from $53.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday. Wall Street Zen upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research report on Friday, April 11th. Finally, Morgan Stanley decreased their price objective on shares of 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, New York Times has an average rating of “Moderate Buy” and a consensus price target of $56.40.

Institutional Trading of New York Times

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio purchased a new position in New York Times during the first quarter valued at $1,532,000. Mattson Financial Services LLC raised its holdings in shares of New York Times by 3.6% in the 1st quarter. Mattson Financial Services LLC now owns 19,246 shares of the company’s stock valued at $955,000 after purchasing an additional 673 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of New York Times by 383.0% in the 1st quarter. Acadian Asset Management LLC now owns 1,765,338 shares of the company’s stock worth $87,538,000 after buying an additional 1,399,865 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of New York Times by 690.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 846 shares of the company’s stock worth $42,000 after buying an additional 739 shares during the last quarter. Finally, Focus Partners Wealth grew its position in shares of New York Times by 52.2% in the 1st quarter. Focus Partners Wealth now owns 11,640 shares of the company’s stock worth $577,000 after buying an additional 3,990 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

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.