B. Riley Wealth Advisors Inc. Sells 581 Shares of The New York Times Company (NYSE:NYT)

B. Riley Wealth Advisors Inc. trimmed its position in shares of The New York Times Company (NYSE:NYT) by 8.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,162 shares of the company’s stock after selling 581 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in New York Times were worth $302,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NYT. Contravisory Investment Management Inc. purchased a new stake in New York Times during the fourth quarter valued at approximately $27,000. GAMMA Investing LLC purchased a new stake in New York Times during the fourth quarter valued at approximately $31,000. DekaBank Deutsche Girozentrale purchased a new stake in New York Times during the third quarter valued at approximately $37,000. TFO Wealth Partners LLC raised its holdings in shares of 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 buying an additional 2,521 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of 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 buying an additional 451 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

New York Times Price Performance

NYSE:NYT opened at $50.45 on Thursday. The firm has a market capitalization of $8.29 billion, a P/E ratio of 33.63 and a beta of 1.05. The New York Times Company has a 1-year low of $38.31 and a 1-year high of $51.98. The company’s fifty day moving average price is $48.06 and its 200-day moving average price is $46.30.

New York Times (NYSE:NYT) last released its quarterly earnings data 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 firm had revenue of $594.00 million for the quarter, compared to analyst estimates of $591.97 million. New York Times had a net margin of 10.19% and a return on equity of 17.33%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 earnings per share. Equities analysts anticipate that The New York Times Company will post 1.77 EPS for the current fiscal year.

Insider Transactions at New York Times

In other news, CAO R Anthony Benten sold 5,171 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other New York Times news, CEO Levien Meredith A. Kopit sold 12,548 shares of New York Times 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO R Anthony Benten sold 5,171 shares of New York Times stock in a transaction dated 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 in the company, valued at $1,889,452.48. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

NYT has been the subject of a number of research analyst reports. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Citigroup initiated coverage on shares of New York Times in a report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price target for the company. Evercore ISI raised their price target on shares of New York Times from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Finally, Argus raised shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently 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.