The New York Times Company (NYSE:NYT) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its stake in The New York Times Company (NYSE:NYT) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,887 shares of the company’s stock after selling 330 shares during the period. PNC Financial Services Group Inc.’s holdings in New York Times were worth $974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Contravisory Investment Management Inc. acquired a new position in New York Times in the fourth quarter valued at $27,000. GAMMA Investing LLC acquired a new position in New York Times in the fourth quarter valued at $31,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of New York Times during the third quarter worth about $37,000. Covestor Ltd boosted its stake in shares of New York Times by 9.6% during the third quarter. Covestor Ltd now owns 2,659 shares of the company’s stock worth $110,000 after buying an additional 232 shares during the period. Finally, TFO Wealth Partners LLC boosted its stake in shares of New York Times by 84,033.3% during the fourth quarter. TFO Wealth Partners LLC now owns 2,524 shares of the company’s stock worth $124,000 after buying an additional 2,521 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Stock Up 1.6 %

Shares of NYSE:NYT opened at $50.92 on Monday. The company has a market cap of $8.37 billion, a P/E ratio of 33.95 and a beta of 1.05. The New York Times Company has a 52 week low of $37.36 and a 52 week high of $51.98. The company has a 50-day moving average price of $47.55 and a 200 day moving average price of $46.23.

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 company had revenue of $594.00 million during the quarter, compared to analysts’ expectations of $591.97 million. During the same period last year, the company posted $0.19 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. Analysts expect that The New York Times Company will post 1.77 EPS for the current year.

Insider Buying and Selling at New York Times

In other New York Times news, CEO Levien Meredith A. Kopit sold 12,548 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $47.72, for a total value of $598,790.56. Following the completion of the transaction, the chief executive officer now directly owns 120,072 shares of the company’s stock, valued at $5,729,835.84. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Levien Meredith A. Kopit sold 12,548 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $47.72, for a total transaction of $598,790.56. Following the completion of the transaction, the chief executive officer now directly owns 120,072 shares of the company’s stock, valued at approximately $5,729,835.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO R Anthony Benten sold 5,171 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $48.98, for a total transaction of $253,275.58. Following the transaction, the chief accounting officer now directly owns 38,576 shares of the company’s stock, valued at $1,889,452.48. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NYT shares. Argus upgraded shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Monday, March 4th. Citigroup started coverage on shares of New York Times in a research note on Tuesday, March 12th. They set a “buy” rating and a $52.00 target price for the company. Evercore ISI increased their target price on shares of New York Times from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Finally, StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.71.

About New York Times

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.