Key Points
- NYT EVP Jacqueline Welch sold 4,000 shares on June 3 at an average price of $74.14, totaling about $296,560. After the sale, she still held 23,873 shares, reducing her position by 14.35%.
- The stock was trading higher, opening at $76.79 and up about 2% in the session, while remaining near its 200-day moving average and below its 50-day average.
- New York Times reported solid quarterly results, with earnings and revenue both topping expectations and revenue rising 12% year over year, even as analysts note the stock has been under pressure since the last earnings report.
The New York Times Company (NYSE:NYT - Get Free Report) EVP Jacqueline Welch sold 4,000 shares of New York Times stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $74.14, for a total value of $296,560.00. Following the sale, the executive vice president owned 23,873 shares of the company's stock, valued at approximately $1,769,944.22. This trade represents a 14.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
New York Times Trading Up 2.0%
Shares of NYT opened at $76.79 on Friday. The company has a market cap of $12.43 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 1.56 and a beta of 0.95. The stock has a 50-day moving average price of $79.14 and a 200-day moving average price of $74.53. The New York Times Company has a 12-month low of $51.03 and a 12-month high of $87.10.
New York Times (NYSE:NYT - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.12. The company had revenue of $712.24 million during the quarter, compared to the consensus estimate of $699.93 million. New York Times had a return on equity of 22.02% and a net margin of 13.18%.New York Times's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS. As a group, analysts predict that The New York Times Company will post 2.93 earnings per share for the current year.
New York Times News Summary
Here are the key news stories impacting New York Times this week:
Hedge Funds Weigh In On New York Times
Hedge funds have recently made changes to their positions in the business. Navalign LLC purchased a new position in shares of New York Times during the fourth quarter valued at approximately $25,000. Cornerstone Planning Group LLC increased its stake in shares of New York Times by 74.2% during the fourth quarter. Cornerstone Planning Group LLC now owns 446 shares of the company's stock valued at $32,000 after buying an additional 190 shares during the period. International Assets Investment Management LLC purchased a new position in shares of New York Times during the fourth quarter valued at approximately $32,000. SOA Wealth Advisors LLC. purchased a new position in shares of New York Times during the fourth quarter valued at approximately $34,000. Finally, SJS Investment Consulting Inc. increased its stake in shares of New York Times by 313.9% during the first quarter. SJS Investment Consulting Inc. now owns 567 shares of the company's stock valued at $47,000 after buying an additional 430 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms recently weighed in on NYT. Wall Street Zen upgraded New York Times from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Evercore restated an "outperform" rating and issued a $92.00 target price on shares of New York Times in a research report on Thursday, May 7th. Barclays boosted their target price on New York Times from $60.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. boosted their target price on New York Times from $74.00 to $82.00 and gave the stock an "overweight" rating in a research report on Friday, May 29th. Finally, Citigroup boosted their target price on New York Times from $77.00 to $94.00 and gave the stock a "buy" rating in a research report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, New York Times currently has an average rating of "Moderate Buy" and an average price target of $81.67.
Check Out Our Latest Stock Analysis on NYT
About New York Times
(
Get Free Report)
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.
Further Reading
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