Insider Selling: New York Times Co (NYSE:NYT) SVP Sells 9,815 Shares of Stock

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New York Times Co (NYSE:NYT) SVP R Anthony Benten sold 9,815 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $34.24, for a total value of $336,065.60. Following the transaction, the senior vice president now directly owns 36,010 shares of the company’s stock, valued at $1,232,982.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

NYT opened at $32.78 on Wednesday. New York Times Co has a fifty-two week low of $21.34 and a fifty-two week high of $34.87. The firm has a market cap of $5.41 billion, a P/E ratio of 40.47 and a beta of 1.22.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. The company had revenue of $439.10 million for the quarter, compared to the consensus estimate of $433.92 million. New York Times had a net margin of 7.55% and a return on equity of 13.76%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 EPS. As a group, research analysts expect that New York Times Co will post 0.86 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in NYT. JPMorgan Chase & Co. raised its stake in shares of New York Times by 28.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 112,162 shares of the company’s stock worth $2,596,000 after acquiring an additional 24,629 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of New York Times in the third quarter worth $222,000. Man Group plc acquired a new stake in shares of New York Times in the third quarter worth $204,000. Fox Run Management L.L.C. acquired a new stake in shares of New York Times in the fourth quarter worth $300,000. Finally, Bank of Montreal Can increased its stake in shares of New York Times by 4.2% in the fourth quarter. Bank of Montreal Can now owns 45,227 shares of the company’s stock worth $1,008,000 after acquiring an additional 1,823 shares during the period. 93.46% of the stock is owned by institutional investors.

NYT has been the topic of several research analyst reports. Zacks Investment Research raised shares of New York Times from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 10th. ValuEngine upgraded shares of New York Times from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 28th. Finally, Cannonball Research upgraded shares of New York Times to a “buy” rating and set a $41.00 price objective for the company in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $32.50.

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New York Times Company 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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