Clark & Stuart Inc Sells 3,175 Shares of The New York Times Company (NYSE:NYT)

Clark & Stuart Inc trimmed its holdings in shares of The New York Times Company (NYSE:NYT) by 1.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,947 shares of the company’s stock after selling 3,175 shares during the period. New York Times comprises 5.8% of Clark & Stuart Inc’s investment portfolio, making the stock its 6th largest position. Clark & Stuart Inc owned 0.10% of New York Times worth $7,933,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of New York Times by 511.7% during the fourth 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. purchased a new stake in shares of New York Times during the fourth quarter valued at approximately $36,000. American National Bank & Trust purchased a new stake in shares of New York Times during the first quarter valued at approximately $45,000. Smartleaf Asset Management LLC raised its stake in shares of New York Times by 27.7% during the fourth 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 period. Finally, Bessemer Group Inc. raised its stake in shares of New York Times by 12.6% during the fourth 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 period. 95.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity at New York Times

In other New York Times news, Director David S. Perpich sold 4,000 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $56.18, for a total value of $224,720.00. Following the completion of the sale, the director now directly owns 27,569 shares of the company’s stock, valued at approximately $1,548,826.42. This represents a 12.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William Bardeen sold 2,500 shares of the company’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $56.83, for a total transaction of $142,075.00. Following the completion of the sale, the executive vice president now directly owns 16,727 shares of the company’s stock, valued at $950,595.41. The trade was a 13.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,490 shares of company stock worth $479,728 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.

New York Times Stock Up 0.5%

Shares of NYT opened at $54.07 on Friday. The firm has a 50-day moving average price of $53.49 and a 200 day moving average price of $51.80. The firm has a market capitalization of $8.82 billion, a PE ratio of 29.39, a P/E/G ratio of 1.88 and a beta of 1.13. The New York Times Company has a 52-week low of $44.83 and a 52-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, beating analysts’ consensus estimates of $0.35 by $0.06. The firm had revenue of $635.91 million during the quarter, compared to analyst estimates of $634.99 million. New York Times had a net margin of 11.53% and a return on equity of 18.70%. New York Times’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. On average, equities analysts expect that The New York Times Company will post 2.08 EPS for the current year.

Analyst Ratings Changes

NYT has been the topic of a number of analyst reports. Citigroup reiterated a “buy” rating on shares of New York Times in a research note on Thursday, June 12th. Wall Street Zen upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research note on Friday, April 11th. Finally, Guggenheim lifted their price target on shares of New York Times from $53.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, June 2nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $56.40.

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.