Paloma Partners Management Co raised its stake in shares of New York Times Co (NYSE:NYT) by 975.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 321,494 shares of the company’s stock after buying an additional 291,590 shares during the quarter. Paloma Partners Management Co owned about 0.19% of New York Times worth $10,487,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Steward Partners Investment Advisory LLC acquired a new stake in shares of New York Times during the second quarter worth $32,000. Trustcore Financial Services LLC acquired a new stake in shares of New York Times during the second quarter worth $41,000. FNY Investment Advisers LLC acquired a new stake in shares of New York Times during the second quarter worth $80,000. Natixis acquired a new stake in shares of New York Times during the second quarter worth $202,000. Finally, Gillespie Robinson & Grimm Inc. acquired a new stake in shares of New York Times during the second quarter worth $204,000. Hedge funds and other institutional investors own 91.12% of the company’s stock.
NYT has been the topic of several analyst reports. ValuEngine cut New York Times from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Zacks Investment Research upgraded New York Times from a “sell” rating to a “hold” rating and set a $32.00 price objective on the stock in a report on Wednesday, September 11th. Finally, Evercore ISI set a $38.00 price objective on New York Times and gave the stock a “buy” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. New York Times has an average rating of “Buy” and an average price target of $32.20.
New York Times stock traded down $0.66 during midday trading on Thursday, reaching $28.58. The stock had a trading volume of 69,893 shares, compared to its average volume of 1,304,769. New York Times Co has a twelve month low of $21.34 and a twelve month high of $36.25. The stock has a market capitalization of $4.85 billion, a PE ratio of 35.28 and a beta of 1.20. The stock’s 50-day simple moving average is $30.21 and its 200 day simple moving average is $32.79.
New York Times (NYSE:NYT) last issued its earnings results on Wednesday, August 7th. The company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.02. New York Times had a return on equity of 13.40% and a net margin of 7.55%. The firm had revenue of $436.30 million for the quarter, compared to analysts’ expectations of $439.20 million. During the same quarter last year, the firm earned $0.17 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts predict that New York Times Co will post 0.81 EPS for the current year.
New York Times 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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