Van ECK Associates Corp raised its stake in The New York Times Company (NYSE:NYT – Get Rating) by 7.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,299 shares of the company’s stock after purchasing an additional 376 shares during the period. Van ECK Associates Corp’s holdings in New York Times were worth $172,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of New York Times by 2.0% in the first quarter. JPMorgan Chase & Co. now owns 302,022 shares of the company’s stock valued at $13,845,000 after purchasing an additional 5,921 shares during the period. American Century Companies Inc. increased its stake in shares of New York Times by 11.9% during the first quarter. American Century Companies Inc. now owns 17,533 shares of the company’s stock valued at $804,000 after acquiring an additional 1,870 shares during the period. HighTower Advisors LLC increased its stake in shares of New York Times by 7.8% during the first quarter. HighTower Advisors LLC now owns 5,619 shares of the company’s stock valued at $259,000 after acquiring an additional 406 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of New York Times by 1.7% during the first quarter. PNC Financial Services Group Inc. now owns 21,607 shares of the company’s stock valued at $991,000 after acquiring an additional 354 shares during the period. Finally, Natixis Advisors L.P. acquired a new position in shares of New York Times during the first quarter valued at approximately $476,000. Institutional investors own 99.15% of the company’s stock.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of New York Times from $37.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, February 9th. StockNews.com cut shares of New York Times from a “buy” rating to a “hold” rating in a report on Thursday, May 11th. JPMorgan Chase & Co. raised their price objective on shares of New York Times from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 15th. Finally, Barclays cut their target price on shares of New York Times from $36.00 to $33.00 in a research report on Friday, May 12th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $36.58.
Insider Buying and Selling
New York Times Trading Up 1.5 %
New York Times stock opened at $36.70 on Thursday. The company has a market capitalization of $6.04 billion, a P/E ratio of 31.91 and a beta of 0.99. The firm’s fifty day simple moving average is $38.36 and its 200-day simple moving average is $36.41. The New York Times Company has a 1-year low of $27.58 and a 1-year high of $42.40.
New York Times (NYSE:NYT – Get Rating) last announced its earnings results on Wednesday, May 10th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. The firm had revenue of $560.74 million for the quarter, compared to the consensus estimate of $564.37 million. New York Times had a net margin of 8.21% and a return on equity of 13.49%. During the same quarter last year, the firm posted $0.19 EPS. On average, equities research analysts predict that The New York Times Company will post 1.29 earnings per share for the current year.
New York Times announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 8th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
New York Times Company Profile
The New York Times Co is a media organization, which engages in creating, collecting, and distributing news and information. It offers news products and other interest-specific products, and related content and services. It offers newspapers, print, and digital products and investments. The firm also manages The New York Times, NYTimes.com, and mobile applications.
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