The New York Times Company (NYSE:NYT) Shares Sold by Valueworks LLC

Valueworks LLC lessened its holdings in shares of The New York Times Company (NYSE:NYT) by 16.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 88,661 shares of the company’s stock after selling 17,138 shares during the quarter. New York Times comprises approximately 1.5% of Valueworks LLC’s holdings, making the stock its 25th largest position. Valueworks LLC’s holdings in New York Times were worth $4,615,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position 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 acquiring an additional 394 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in New York Times during the 4th quarter worth $36,000. UMB Bank n.a. boosted its position in New York Times by 61.4% during the 4th quarter. UMB Bank n.a. now owns 744 shares of the company’s stock worth $39,000 after acquiring an additional 283 shares during the period. Smartleaf Asset Management LLC boosted its position in New York Times by 27.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock worth $60,000 after acquiring an additional 247 shares during the period. Finally, Bessemer Group Inc. boosted its position 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. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research report on Friday, April 11th. Guggenheim upped their price objective on New York Times from $52.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Finally, Morgan Stanley cut their price objective 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $56.00.

New York Times Stock Down 1.2%

Shares of New York Times stock opened at $55.29 on Tuesday. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of 31.06, a price-to-earnings-growth ratio of 1.75 and a beta of 1.16. The business has a fifty day simple moving average of $50.20 and a 200-day simple moving average of $51.54. The New York Times Company has a fifty-two week low of $44.83 and a fifty-two week high of $58.16.

New York Times (NYSE:NYT) last announced its earnings results 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 company had revenue of $635.91 million for the quarter, compared to analyst estimates of $634.99 million. New York Times had a return on equity of 18.51% and a net margin of 11.36%. New York Times’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 earnings per share. Analysts anticipate that The New York Times Company will post 2.08 earnings per share 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.