Dynamic Technology Lab Private Ltd Sells 3,779 Shares of The New York Times Company (NYSE:NYT)

Dynamic Technology Lab Private Ltd trimmed its position in The New York Times Company (NYSE:NYT) by 18.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 16,198 shares of the company’s stock after selling 3,779 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in New York Times were worth $794,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. California Public Employees Retirement System grew its holdings in New York Times by 9.3% during the 3rd quarter. California Public Employees Retirement System now owns 304,221 shares of the company’s stock worth $12,534,000 after acquiring an additional 25,973 shares during the period. NBC Securities Inc. bought a new stake in New York Times in the 3rd quarter valued at about $120,000. Victory Capital Management Inc. increased its position in New York Times by 1.6% in the 3rd quarter. Victory Capital Management Inc. now owns 29,091 shares of the company’s stock valued at $1,199,000 after buying an additional 458 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in New York Times in the 3rd quarter valued at about $7,556,000. Finally, LGT Group Foundation increased its position in New York Times by 15.6% in the 3rd quarter. LGT Group Foundation now owns 627,885 shares of the company’s stock valued at $25,919,000 after buying an additional 84,718 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Evercore ISI lifted their price target on New York Times from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Citigroup assumed coverage on New York Times in a research note on Tuesday, March 12th. They set a “buy” rating and a $52.00 price target for the company. Finally, Argus upgraded New York Times from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Monday, March 4th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $46.71.

New York Times Trading Up 0.5 %

New York Times stock opened at $49.50 on Thursday. The New York Times Company has a 12 month low of $35.06 and a 12 month high of $49.87. The business’s 50 day simple moving average is $44.52 and its 200 day simple moving average is $45.42. The company has a market cap of $8.13 billion, a price-to-earnings ratio of 33.00 and a beta of 1.00.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.11. New York Times had a net margin of 10.19% and a return on equity of 17.33%. The business had revenue of $594.00 million for the quarter, compared to analysts’ expectations of $591.97 million. During the same quarter in the previous year, the firm posted $0.19 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, equities research analysts forecast that The New York Times Company will post 1.77 earnings per share for the current fiscal year.

Insider Transactions at New York Times

In other news, CEO Levien Meredith A. Kopit sold 12,548 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $47.72, for a total value of $598,790.56. Following the transaction, the chief executive officer now owns 120,072 shares of the company’s stock, valued at $5,729,835.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.00% of the company’s stock.

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.