Legal & General Group Plc Sells 62,429 Shares of The New York Times Company $NYT

Legal & General Group Plc reduced its holdings in shares of The New York Times Company (NYSE:NYT) by 20.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 246,395 shares of the company’s stock after selling 62,429 shares during the quarter. Legal & General Group Plc’s holdings in New York Times were worth $17,105,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NYT. Empowered Funds LLC bought a new position in shares of New York Times during the 1st quarter worth approximately $442,000. Focus Partners Wealth boosted its stake in New York Times by 52.2% in the 1st quarter. Focus Partners Wealth now owns 11,640 shares of the company’s stock valued at $577,000 after purchasing an additional 3,990 shares during the period. Geneos Wealth Management Inc. boosted its stake in New York Times by 690.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 846 shares of the company’s stock valued at $42,000 after purchasing an additional 739 shares during the period. Baird Financial Group Inc. bought a new stake in New York Times in the 2nd quarter valued at $306,000. Finally, Cerity Partners LLC boosted its stake in New York Times by 70.2% in the 2nd quarter. Cerity Partners LLC now owns 55,423 shares of the company’s stock valued at $3,103,000 after purchasing an additional 22,853 shares during the period. 95.37% of the stock is currently owned by institutional investors.

New York Times Price Performance

Shares of NYSE NYT opened at $76.35 on Tuesday. The stock has a market capitalization of $12.36 billion, a PE ratio of 32.77, a P/E/G ratio of 1.57 and a beta of 0.98. The business has a fifty day moving average price of $79.75 and a two-hundred day moving average price of $74.27. The New York Times Company has a fifty-two week low of $51.03 and a fifty-two week high of $87.10.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.12. The firm had revenue of $712.24 million during the quarter, compared to analysts’ expectations of $699.93 million. New York Times had a return on equity of 22.02% and a net margin of 13.18%.The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 EPS. On average, equities analysts expect that The New York Times Company will post 2.9 EPS for the current year.

Insider Buying and Selling at New York Times

In other New York Times news, EVP William Bardeen sold 4,121 shares of New York Times stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $77.85, for a total value of $320,819.85. Following the completion of the transaction, the executive vice president directly owned 14,560 shares of the company’s stock, valued at $1,133,496. The trade was a 22.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David S. Perpich sold 9,000 shares of New York Times stock in a transaction on Monday, May 11th. The shares were sold at an average price of $77.06, for a total value of $693,540.00. Following the completion of the transaction, the director directly owned 28,469 shares of the company’s stock, valued at $2,193,821.14. This represents a 24.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Evercore restated an “outperform” rating and issued a $92.00 price target on shares of New York Times in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $95.00 price target on shares of New York Times in a research note on Thursday, May 7th. Argus upgraded New York Times to a “strong-buy” rating in a research note on Thursday, February 19th. Barclays boosted their price target on New York Times from $60.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. boosted their price target on New York Times from $74.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.67.

New York Times News Summary

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

• Positive Sentiment: The company’s publisher publicly criticized AI firms for “brazen theft” of news content, reinforcing NYT’s push to protect its journalism business and potentially strengthen its negotiating position around licensing and copyright. New York Times publisher slams AI companies’ ‘brazen theft’ from news outlets
• Neutral Sentiment: Several new pieces from The New York Times and The Athletic highlight continued content production across politics, sports, entertainment, and culture, underscoring the breadth of the company’s subscription and advertising portfolio, though they do not appear to be a major direct stock catalyst. Article: Ben Brown levels up, Lucas Erceg is droppable and more fantasy baseball takeaways
• Neutral Sentiment: Additional reporting on topics like U.S. politics and European soccer unrest adds to audience engagement, but these articles are unlikely to materially affect NYT’s financial outlook on their own. Article: They Voted for Trump. Here’s How They Feel About High Gas Prices.
• Negative Sentiment: Investors were also alerted to a law-firm investigation into The New York Times Company, which can create legal uncertainty and headline risk for shares. Article: NYT Investors Have the Opportunity to Join Investigation of The New York Times Company with the Schall Law Firm

New York Times Company Profile

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.