MetLife Investment Management LLC Has $3.36 Million Stock Position in The New York Times Company (NYSE:NYT)

Posted by on Jun 18th, 2023

MetLife Investment Management LLC trimmed its stake in The New York Times Company (NYSE:NYT – Get Rating) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,611 shares of the company’s stock after selling 2,634 shares during the period. MetLife Investment Management LLC owned about 0.06% of New York Times worth $3,363,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Compass Wealth Management LLC acquired a new stake in New York Times in the 4th quarter worth $30,000. Harvest Fund Management Co. Ltd lifted its position in shares of New York Times by 68.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,055 shares of the company’s stock worth $34,000 after acquiring an additional 430 shares during the period. Belpointe Asset Management LLC bought a new stake in shares of New York Times in the 4th quarter worth approximately $37,000. FourThought Financial LLC bought a new stake in shares of New York Times in the 3rd quarter worth approximately $46,000. Finally, CI Investments Inc. raised its stake in shares of New York Times by 56.1% in the 4th quarter. CI Investments Inc. now owns 1,698 shares of the company’s stock valued at $55,000 after buying an additional 610 shares in the last quarter. 99.15% of the stock is currently owned by institutional investors and hedge funds.

New York Times Trading Up 0.7 %

NYSE:NYT opened at $37.62 on Friday. The New York Times Company has a 1 year low of $27.58 and a 1 year high of $42.40. The firm has a 50 day moving average of $37.86 and a 200-day moving average of $36.75. The stock has a market capitalization of $6.20 billion, a P/E ratio of 32.71 and a beta of 0.99.

New York Times (NYSE:NYT – Get Rating) last announced its earnings results on Wednesday, May 10th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. New York Times had a return on equity of 13.49% and a net margin of 8.21%. The company had revenue of $560.74 million during the quarter, compared to analyst estimates of $564.37 million. During the same period last year, the company posted $0.19 earnings per share. As a group, analysts forecast that The New York Times Company will post 1.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NYT. Barclays dropped their price objective on shares of New York Times from $36.00 to $33.00 in a research note on Friday, May 12th. JPMorgan Chase & Co. upped their price objective on New York Times from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday, March 15th. Finally, StockNews.com lowered New York Times from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, New York Times presently has a consensus rating of “Hold” and a consensus price target of $36.58.

New York Times Company Profile

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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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Institutional Ownership by Quarter for New York Times (NYSE:NYT)

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