BNP Paribas Financial Markets Raises Holdings in The New York Times Company (NYSE:NYT)

BNP Paribas Financial Markets boosted its stake in shares of The New York Times Company (NYSE:NYT) by 89.9% in the 4th quarter, HoldingsChannel reports. The fund owned 155,909 shares of the company’s stock after buying an additional 73,805 shares during the quarter. BNP Paribas Financial Markets’ holdings in New York Times were worth $8,115,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NYT. Barclays PLC boosted its holdings in New York Times by 113.2% during the 3rd quarter. Barclays PLC now owns 123,256 shares of the company’s stock valued at $6,862,000 after acquiring an additional 65,438 shares during the period. Clark & Stuart Inc purchased a new stake in New York Times during the 4th quarter valued at about $8,490,000. Oak Thistle LLC purchased a new stake in New York Times during the 4th quarter valued at about $897,000. Park Avenue Securities LLC boosted its holdings in New York Times by 236.0% during the 4th quarter. Park Avenue Securities LLC now owns 13,985 shares of the company’s stock valued at $728,000 after acquiring an additional 9,823 shares during the period. Finally, UMB Bank n.a. boosted its holdings in New York Times by 61.4% during the 4th 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. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Morgan Stanley dropped their target price on New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a report on Friday, April 11th. Finally, Guggenheim increased their price objective on New York Times from $52.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.00.

New York Times Price Performance

Shares of NYSE NYT opened at $53.61 on Monday. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $58.16. The stock has a market capitalization of $8.75 billion, a P/E ratio of 30.12, a P/E/G ratio of 1.75 and a beta of 1.16. The company’s 50-day moving average is $49.38 and its 200 day moving average is $51.57.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. The company had revenue of $635.91 million for 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 firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 earnings per share. Research analysts anticipate that The New York Times Company will post 2.08 earnings per share 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.