New York Times Co (NYSE:NYT) SVP R Anthony Benten sold 9,815 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $34.24, for a total transaction of $336,065.60. Following the completion of the transaction, the senior vice president now owns 36,010 shares in the company, valued at approximately $1,232,982.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
NYT stock opened at $34.60 on Thursday. New York Times Co has a 12-month low of $21.34 and a 12-month high of $34.87. The firm has a market capitalization of $5.74 billion, a P/E ratio of 42.72 and a beta of 1.23.
New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.08. New York Times had a net margin of 7.55% and a return on equity of 13.76%. The firm had revenue of $439.10 million for the quarter, compared to analyst estimates of $433.92 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts expect that New York Times Co will post 0.86 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp raised its holdings in shares of New York Times by 65.9% during the first quarter. Fifth Third Bancorp now owns 1,745 shares of the company’s stock valued at $57,000 after purchasing an additional 693 shares during the period. Capital Investment Advisory Services LLC acquired a new position in shares of New York Times during the fourth quarter valued at about $43,000. Blume Capital Management Inc. raised its holdings in shares of New York Times by 100.0% during the fourth quarter. Blume Capital Management Inc. now owns 2,000 shares of the company’s stock valued at $45,000 after purchasing an additional 1,000 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of New York Times during the first quarter valued at about $95,000. Finally, Fort L.P. acquired a new stake in shares of New York Times in the 1st quarter worth about $100,000. Hedge funds and other institutional investors own 91.47% of the company’s stock.
Several equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of New York Times from a “hold” rating to a “strong-buy” rating and set a $39.00 target price on the stock in a report on Monday, May 13th. Cannonball Research upgraded shares of New York Times to a “buy” rating and set a $41.00 target price on the stock in a report on Monday, March 18th. Finally, ValuEngine upgraded shares of New York Times from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 28th. One analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned a strong buy rating to the company. New York Times has a consensus rating of “Buy” and a consensus price target of $32.50.
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New York Times Company Profile
The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. The company offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.
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