Two Sigma Advisers LP Purchases 506,000 Shares of The New York Times Company (NYSE:NYT)

Two Sigma Advisers LP raised its position in The New York Times Company (NYSE:NYT) by 721.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 576,100 shares of the company’s stock after acquiring an additional 506,000 shares during the quarter. Two Sigma Advisers LP’s holdings in New York Times were worth $29,986,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NYT. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of New York Times by 511.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company’s stock valued at $25,000 after purchasing an additional 394 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in New York Times during the fourth quarter worth approximately $36,000. UMB Bank n.a. increased its position in New York Times by 61.4% during the fourth quarter. UMB Bank n.a. now owns 744 shares of the company’s stock worth $39,000 after buying an additional 283 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in New York Times by 27.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock valued at $60,000 after buying an additional 247 shares during the period. Finally, Bessemer Group Inc. lifted its position in shares of New York Times by 12.6% in the fourth quarter. Bessemer Group Inc. now owns 1,895 shares of the company’s stock valued at $99,000 after buying an additional 212 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

NYT has been the topic of a number of recent analyst reports. Morgan Stanley decreased their target price on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Guggenheim lifted their price objective on shares of New York Times from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Finally, StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a research report on Friday, April 11th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, New York Times presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

New York Times Trading Up 0.2%

New York Times stock opened at $55.37 on Wednesday. The company has a market capitalization of $9.03 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 1.75 and a beta of 1.16. The New York Times Company has a 12 month low of $44.83 and a 12 month high of $58.16. The stock’s 50 day moving average is $50.35 and its 200-day moving average is $51.56.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. The business had revenue of $635.91 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 EPS. As a group, equities research analysts predict that The New York Times Company will post 2.08 earnings per share for the current fiscal 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.