The New York Times Company (NYSE:NYT) Shares Bought by Millennium Management LLC

Millennium Management LLC lifted its position in The New York Times Company (NYSE:NYT) by 133.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,559,837 shares of the company’s stock after buying an additional 892,155 shares during the period. Millennium Management LLC’s holdings in New York Times were worth $81,190,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in New York Times by 511.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company’s stock valued at $25,000 after buying an additional 394 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new position in shares of New York Times during the 4th quarter valued at about $36,000. UMB Bank n.a. boosted its position in shares of New York Times by 61.4% during the 4th quarter. UMB Bank n.a. now owns 744 shares of the company’s stock valued at $39,000 after purchasing an additional 283 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of New York Times by 27.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock worth $60,000 after purchasing an additional 247 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of New York Times by 12.6% in the 4th quarter. Bessemer Group Inc. now owns 1,895 shares of the company’s stock worth $99,000 after purchasing an additional 212 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Price Performance

New York Times stock opened at $54.87 on Thursday. The New York Times Company has a fifty-two week low of $44.83 and a fifty-two week high of $58.16. The firm’s 50 day simple moving average is $49.79 and its 200-day simple moving average is $51.61. The company has a market cap of $8.96 billion, a P/E ratio of 30.83, a price-to-earnings-growth ratio of 1.75 and a beta of 1.16.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.41 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 firm had revenue of $635.91 million during the quarter, compared to analyst estimates of $634.99 million. During the same quarter last year, the business posted $0.31 EPS. The company’s revenue was up 7.1% on a year-over-year basis. On average, analysts expect that The New York Times Company will post 2.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Guggenheim raised their target price on shares of New York Times from $52.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research report on Friday, April 11th. Finally, Morgan Stanley reduced their price objective on New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.