Prentiss Smith & Co. Inc. Purchases 810 Shares of The New York Times Company (NYSE:NYT)

Prentiss Smith & Co. Inc. grew its position in shares of The New York Times Company (NYSE:NYT) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,275 shares of the company’s stock after purchasing an additional 810 shares during the period. New York Times comprises about 3.1% of Prentiss Smith & Co. Inc.’s holdings, making the stock its 13th largest holding. Prentiss Smith & Co. Inc. owned approximately 0.06% of New York Times worth $4,726,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Brown Financial Advisors lifted its stake in shares of New York Times by 2.3% in the 4th quarter. Brown Financial Advisors now owns 8,996 shares of the company’s stock valued at $468,000 after acquiring an additional 200 shares during the last quarter. Bessemer Group Inc. raised 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 valued at $99,000 after purchasing an additional 212 shares during the last quarter. IFP Advisors Inc raised its position in New York Times by 0.7% during the 4th quarter. IFP Advisors Inc now owns 34,368 shares of the company’s stock valued at $1,789,000 after purchasing an additional 224 shares during the last quarter. Natixis Advisors LLC raised its position in New York Times by 1.2% during the 4th quarter. Natixis Advisors LLC now owns 19,187 shares of the company’s stock valued at $999,000 after purchasing an additional 228 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised 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 valued at $60,000 after purchasing an additional 247 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 research analyst reports. Guggenheim upped their target price on New York Times from $53.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, June 2nd. Wall Street Zen upgraded New York Times from a “hold” rating to a “buy” rating in a report on Friday, April 11th. Finally, Citigroup restated a “buy” rating on shares of New York Times in a research note on Thursday, June 12th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $56.40.

New York Times Stock Down 4.0%

New York Times stock opened at $53.78 on Wednesday. The company has a market capitalization of $8.77 billion, a P/E ratio of 29.23, a PEG ratio of 1.95 and a beta of 1.13. The stock’s 50 day moving average is $53.25 and its 200 day moving average is $51.78. The New York Times Company has a twelve month low of $44.83 and a twelve month high of $58.16.

New York Times (NYSE:NYT) last posted 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. New York Times had a return on equity of 18.70% and a net margin of 11.53%. 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 business posted $0.31 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts expect that The New York Times Company will post 2.08 EPS for the current year.

Insider Buying and Selling at New York Times

In other New York Times news, CAO R Anthony Benten sold 1,990 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $56.75, for a total transaction of $112,932.50. Following the sale, the chief accounting officer now directly owns 39,685 shares in the company, valued at approximately $2,252,123.75. This trade represents a 4.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David S. Perpich sold 4,000 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $56.18, for a total value of $224,720.00. Following the sale, the director now owns 27,569 shares in the company, valued at approximately $1,548,826.42. This represents a 12.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,490 shares of company stock worth $479,728. Insiders own 1.90% of the company’s stock.

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.