D. E. Shaw & Co. Inc. Buys 258,635 Shares of The New York Times Company (NYSE:NYT)

D. E. Shaw & Co. Inc. lifted its position in The New York Times Company (NYSE:NYT) by 76.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 596,521 shares of the company’s stock after purchasing an additional 258,635 shares during the period. D. E. Shaw & Co. Inc. owned about 0.36% of New York Times worth $31,049,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Cetera Investment Advisers grew its holdings in New York Times by 32.9% in the 4th quarter. Cetera Investment Advisers now owns 10,929 shares of the company’s stock worth $569,000 after acquiring an additional 2,704 shares during the last quarter. Centiva Capital LP grew its stake in shares of New York Times by 58.6% in the fourth quarter. Centiva Capital LP now owns 36,031 shares of the company’s stock worth $1,875,000 after purchasing an additional 13,311 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in New York Times by 89.9% during the 4th quarter. BNP Paribas Financial Markets now owns 155,909 shares of the company’s stock valued at $8,115,000 after purchasing an additional 73,805 shares during the period. Algert Global LLC raised its position in New York Times by 61.5% during the 4th quarter. Algert Global LLC now owns 202,095 shares of the company’s stock valued at $10,519,000 after purchasing an additional 76,972 shares during the last quarter. Finally, Darsana Capital Partners LP lifted its holdings in New York Times by 15.0% in the 4th quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company’s stock worth $299,288,000 after buying an additional 750,000 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Price Performance

Shares of NYSE NYT opened at $53.61 on Friday. The firm has a 50-day moving average of $49.38 and a 200 day moving average of $51.59. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $58.16. The stock has a market cap of $8.75 billion, a P/E ratio of 30.12, a price-to-earnings-growth ratio of 1.75 and a beta of 1.16.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. The company had revenue of $635.91 million for the quarter, compared to analysts’ expectations of $634.99 million. During the same quarter in the previous year, the business posted $0.31 EPS. New York Times’s revenue was up 7.1% compared to the same quarter last year. Research analysts expect that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NYT has been the topic of several research analyst reports. Morgan Stanley reduced their target price on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a research report on Friday, April 11th. Finally, Guggenheim boosted their price target on shares of New York Times from $52.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, New York Times currently has a consensus rating of “Moderate Buy” and an average price target of $56.00.

New York Times 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.