Jacqueline Welch Sells 4,000 Shares of New York Times (NYSE:NYT) Stock

The New York Times Company (NYSE:NYTGet Free Report) EVP Jacqueline Welch sold 4,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $74.14, for a total transaction of $296,560.00. Following the transaction, the executive vice president owned 23,873 shares in the company, valued at $1,769,944.22. The trade was a 14.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

New York Times Price Performance

Shares of NYSE NYT opened at $76.79 on Friday. The New York Times Company has a one year low of $51.03 and a one year high of $87.10. The firm’s 50 day simple moving average is $79.14 and its two-hundred day simple moving average is $74.53. The stock has a market capitalization of $12.43 billion, a P/E ratio of 32.96, a PEG ratio of 1.59 and a beta of 0.95.

New York Times (NYSE:NYTGet Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.12. New York Times had a net margin of 13.18% and a return on equity of 22.02%. The business had revenue of $712.24 million for the quarter, compared to analysts’ expectations of $699.93 million. During the same period last year, the business earned $0.41 earnings per share. The business’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, equities analysts expect that The New York Times Company will post 2.93 earnings per share for the current fiscal year.

Institutional Trading of New York Times

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its stake in New York Times by 20.1% in the first quarter. Parallel Advisors LLC now owns 8,625 shares of the company’s stock worth $722,000 after acquiring an additional 1,444 shares during the period. NewEdge Advisors LLC lifted its stake in New York Times by 25.3% in the first quarter. NewEdge Advisors LLC now owns 4,980 shares of the company’s stock worth $417,000 after acquiring an additional 1,006 shares during the period. Caerus Investment Advisors LLC lifted its stake in New York Times by 8.8% in the first quarter. Caerus Investment Advisors LLC now owns 7,739 shares of the company’s stock worth $648,000 after acquiring an additional 627 shares during the period. Glenmede Trust Co. NA lifted its stake in New York Times by 8.5% in the first quarter. Glenmede Trust Co. NA now owns 48,035 shares of the company’s stock worth $4,022,000 after acquiring an additional 3,758 shares during the period. Finally, Essential Partners LLC lifted its stake in New York Times by 6.7% in the first quarter. Essential Partners LLC now owns 9,015 shares of the company’s stock worth $755,000 after acquiring an additional 564 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on NYT. Barclays increased their price objective on New York Times from $60.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Citigroup increased their price objective on New York Times from $77.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Weiss Ratings reissued a “buy (b)” rating on shares of New York Times in a research note on Tuesday, April 21st. Argus raised New York Times to a “strong-buy” rating in a research note on Thursday, February 19th. Finally, Bank of America began coverage on New York Times in a research note on Wednesday, April 22nd. They set a “neutral” rating and a $84.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $81.67.

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About New York Times

(Get Free Report)

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.

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