New York Times (NYSE:NYT) Shares Down 4.8% – Here’s What Happened

Shares of The New York Times Company (NYSE:NYT) were down 4.8% during trading on Tuesday . The company traded as low as $66.61 and last traded at $67.1240. Approximately 407,447 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 2,139,318 shares. The stock had previously closed at $70.53.

Key New York Times News

Here are the key news stories impacting New York Times this week:

• Positive Sentiment: A comparison of NYT with MediaCo highlights the company’s scale, brand strength and diversified subscription-based media model. Those factors may support investor confidence in the company’s long-term competitive position, although the article does not announce a new financial forecast. Critical Review: New York Times (NYSE:NYT) vs. MediaCo (NASDAQ:MDIA)
• Neutral Sentiment: CNBC reports a surge in options trading tied to a consequential lawsuit involving the New York Times and a broader political and media fight. The activity signals elevated investor interest and could increase volatility, but options volume alone does not establish a change in the company’s underlying earnings outlook. Historic lawsuit sparks flurry of option activity in NY Times stock
• Neutral Sentiment: Recent Times and Athletic coverage spans college rankings, international affairs, politics, sports and cultural events. The breadth reinforces the value of the company’s news and sports subscription offerings, but the individual stories provide no direct update on subscriber growth, advertising, pricing or profitability. Princeton’s Run Atop U.S. News Rankings Ends After 15 Years
• Negative Sentiment: The lawsuit and political conflict remain potential risks because adverse developments could create legal costs, reputational pressure or distractions for management. The available report does not indicate a ruling, settlement or quantified financial impact, so the immediate effect on NYT’s fundamentals remains uncertain. Historic lawsuit sparks flurry of option activity in NY Times stock

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays reduced their price objective on shares of New York Times from $66.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 6th. JPMorgan Chase & Co. increased their target price on shares of New York Times from $74.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Wall Street Zen cut shares of New York Times from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Bank of America decreased their price target on shares of New York Times from $87.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, June 24th. Finally, New Street Research set a $82.00 price objective on shares of New York Times in a research report on Tuesday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.20.

New York Times Stock Down 8.4%

The company has a market cap of $10.42 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 1.81 and a beta of 0.92. The company’s fifty day moving average price is $69.48 and its two-hundred day moving average price is $74.80.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The business had revenue of $762.46 million for the quarter, compared to analyst estimates of $752.01 million. New York Times had a net margin of 13.19% and a return on equity of 22.64%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the business posted $0.58 earnings per share. On average, equities research analysts predict that The New York Times Company will post 2.84 earnings per share for the current fiscal year.

Institutional Trading of New York Times

Several hedge funds and other institutional investors have recently modified their holdings of NYT. Berkshire Hathaway Inc bought a new stake in shares of New York Times in the fourth quarter valued at about $351,664,000. Geode Capital Management LLC grew its holdings in shares of New York Times by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 3,922,565 shares of the company’s stock worth $272,347,000 after buying an additional 50,389 shares in the last quarter. Renaissance Technologies LLC raised its position in New York Times by 20.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,756,180 shares of the company’s stock valued at $230,775,000 after buying an additional 465,600 shares during the last quarter. Goldman Sachs Group Inc. raised its position in New York Times by 77.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,924,396 shares of the company’s stock valued at $133,592,000 after buying an additional 838,305 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in New York Times by 0.9% in the 1st quarter. First Trust Advisors LP now owns 1,570,073 shares of the company’s stock valued at $131,462,000 after acquiring an additional 14,202 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Company Profile

The New York Times Company is a media organization best known for publishing The New York Times, a global newspaper and digital news platform. Its coverage spans politics, business, technology, culture, science, health, sports and other subjects, and is distributed through print editions, NYTimes.com, mobile applications and other digital products.

The company generates revenue primarily from digital and print subscriptions, advertising, licensing and related commercial activities. Its subscription products include The New York Times, Games, Cooking and Wirecutter, while The Athletic provides digital sports journalism.