Goldman Sachs Group Inc. Reduces Holdings in The New York Times Company (NYSE:NYT)

Goldman Sachs Group Inc. lowered its stake in shares of The New York Times Company (NYSE:NYT) by 45.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 504,627 shares of the company’s stock after selling 419,250 shares during the quarter. Goldman Sachs Group Inc. owned about 0.31% of New York Times worth $24,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of NYT. Contravisory Investment Management Inc. bought a new stake in New York Times during the 4th quarter valued at approximately $27,000. GAMMA Investing LLC bought a new stake in shares of New York Times during the fourth quarter valued at approximately $31,000. DekaBank Deutsche Girozentrale purchased a new stake in New York Times in the third quarter worth $37,000. TFO Wealth Partners LLC raised its holdings in New York Times by 84,033.3% in the fourth quarter. TFO Wealth Partners LLC now owns 2,524 shares of the company’s stock worth $124,000 after purchasing an additional 2,521 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in New York Times by 15.9% in the fourth quarter. Quadrant Capital Group LLC now owns 3,289 shares of the company’s stock worth $161,000 after purchasing an additional 451 shares in the last quarter. 95.37% of the stock is owned by institutional investors.

Insider Activity at New York Times

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Evercore ISI upped 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 report on Thursday, May 9th. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Argus raised New York Times from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Monday, March 4th. Finally, Citigroup started coverage on New York Times in a report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.71.

New York Times Trading Down 0.2 %

New York Times stock opened at $50.82 on Tuesday. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of 33.88 and a beta of 1.05. The New York Times Company has a 12 month low of $37.66 and a 12 month high of $51.98. The stock has a fifty day simple moving average of $47.72 and a two-hundred day simple moving average of $46.25.

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

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.