Long Corridor Asset Management Ltd Cuts Stock Holdings in The New York Times Company $NYT

Long Corridor Asset Management Ltd decreased its stake in shares of The New York Times Company (NYSE:NYT) by 73.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,300 shares of the company’s stock after selling 116,200 shares during the period. New York Times comprises about 0.2% of Long Corridor Asset Management Ltd’s holdings, making the stock its 14th largest position. Long Corridor Asset Management Ltd’s holdings in New York Times were worth $2,867,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of NYT. Empowered Funds LLC purchased a new position in shares of New York Times during the first quarter valued at approximately $442,000. Focus Partners Wealth boosted its position in shares of New York Times by 52.2% during the first quarter. Focus Partners Wealth now owns 11,640 shares of the company’s stock valued at $577,000 after buying an additional 3,990 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of New York Times by 690.7% during the first quarter. Geneos Wealth Management Inc. now owns 846 shares of the company’s stock valued at $42,000 after buying an additional 739 shares during the last quarter. Baird Financial Group Inc. purchased a new position in shares of New York Times during the second quarter valued at approximately $306,000. Finally, Cerity Partners LLC boosted its position in shares of New York Times by 70.2% during the second quarter. Cerity Partners LLC now owns 55,423 shares of the company’s stock valued at $3,103,000 after buying an additional 22,853 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Price Performance

Shares of NYT opened at $74.39 on Friday. The firm has a market cap of $12.04 billion, a PE ratio of 31.93, a PEG ratio of 1.51 and a beta of 0.95. The stock’s fifty day moving average price is $78.38 and its two-hundred day moving average price is $74.89. The New York Times Company has a 1 year low of $51.03 and a 1 year high of $87.10.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, May 6th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.12. New York Times had a return on equity of 22.02% and a net margin of 13.18%.The firm had revenue of $712.24 million for the quarter, compared to analyst estimates of $699.93 million. During the same period in the previous year, the company posted $0.41 earnings per share. The business’s revenue was up 12.0% on a year-over-year basis. Sell-side analysts anticipate that The New York Times Company will post 2.93 earnings per share for the current fiscal year.

Insider Activity at New York Times

In related news, EVP Jacqueline M. Welch sold 4,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $74.14, for a total transaction of $296,560.00. Following the sale, the executive vice president directly owned 23,873 shares in the company, valued at approximately $1,769,944.22. The trade was a 14.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP William Bardeen sold 4,121 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $77.85, for a total value of $320,819.85. Following the sale, the executive vice president owned 14,560 shares in the company, valued at approximately $1,133,496. The trade was a 22.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 17,121 shares of company stock worth $1,310,920. 1.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NYT. JPMorgan Chase & Co. lifted their target price on New York Times from $74.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. Argus raised New York Times to a “strong-buy” rating in a research report on Thursday, February 19th. Citigroup boosted their price objective on New York Times from $77.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Guggenheim boosted their price objective on New York Times from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $95.00 price objective on shares of New York Times in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.67.

New York Times News Roundup

Here are the key news stories impacting New York Times this week:

• Positive Sentiment: The company published a wide mix of high-interest stories, including major political coverage, war and election updates, business analysis, and World Cup reporting, which can help sustain reader traffic and subscription demand.
• Positive Sentiment: Live blogs and fast-moving coverage from The Athletic and the main news desk on topics like the World Cup, Iran conflict, and U.S. politics may boost engagement by keeping readers returning throughout the day.
• Neutral Sentiment: Several interactive election-result pages and live news pages were published, which are typical traffic-generating products but do not by themselves signal a material financial change for NYT.
• Neutral Sentiment: Other articles covered consumer, health care, cultural, and investigative topics; these reinforce The New York Times Company’s broad editorial reach but are unlikely to move the stock on their own.

About New York Times

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.