New York Times (NYSE:NYT) Director Sells $693,540.00 in Stock

The New York Times Company (NYSE:NYT) Director David Perpich sold 9,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $77.06, for a total transaction of $693,540.00. Following the completion of the sale, the director directly owned 28,469 shares of the company’s stock, valued at approximately $2,193,821.14. This trade represents a 24.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

New York Times Stock Performance

Shares of NYT stock opened at $75.39 on Friday. The stock’s 50-day moving average is $80.93 and its two-hundred day moving average is $72.88. The New York Times Company has a 1 year low of $51.03 and a 1 year high of $87.10. The firm has a market cap of $12.20 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 1.61 and a beta of 0.98.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $699.93 million. During the same quarter last year, the business posted $0.41 EPS. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, research analysts predict that The New York Times Company will post 2.9 EPS for the current year.

Key Stories Impacting New York Times

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

• Positive Sentiment: NYT continues to get supportive commentary after a strong first quarter, with digital advertising growth and subscriber gains helping reinforce the company’s long-term growth story. The New York Times: Q1 Was Strong, But The Valuation Looks Ahead Of Reality
• Positive Sentiment: Market commentary also described The New York Times Company as a strong momentum stock, which may be helping offset some near-term selling pressure. Here’s Why New York Times Co. (NYT) is a Strong Momentum Stock
• Neutral Sentiment: The company’s news pipeline remains active, with multiple high-profile articles published over the past day or two, highlighting the strength of its journalism and audience engagement, though these are not immediate stock catalysts. In a City of Big Dreams, Many Young Adults See a Cloudy Future
• Neutral Sentiment: Director David Perpich sold 9,000 shares, and EVP William Bardeen sold 4,121 shares, which can modestly weigh on sentiment even though these look like routine insider transactions rather than a major red flag. SEC filing
• Negative Sentiment: Some outside analysis says NYT’s valuation may be running ahead of fundamentals, pointing to slowing growth and higher investment costs, which could be contributing to the stock’s pullback. The New York Times: Q1 Was Strong, But The Valuation Looks Ahead Of Reality

Institutional Investors Weigh In On New York Times

Institutional investors have recently added to or reduced their stakes in the business. Navalign LLC purchased a new position in shares of New York Times during the 4th quarter worth approximately $25,000. Cornerstone Planning Group LLC raised its position in New York Times by 74.2% in the fourth quarter. Cornerstone Planning Group LLC now owns 446 shares of the company’s stock worth $32,000 after acquiring an additional 190 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in New York Times in the fourth quarter valued at $32,000. SOA Wealth Advisors LLC. purchased a new stake in shares of New York Times during the 4th quarter worth $34,000. Finally, Larson Financial Group LLC boosted its position in shares of New York Times by 59.6% during the 3rd quarter. Larson Financial Group LLC now owns 656 shares of the company’s stock worth $38,000 after purchasing an additional 245 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on NYT. Weiss Ratings reissued a “buy (b)” rating on shares of New York Times in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $95.00 price target on shares of New York Times in a report on Thursday, May 7th. JPMorgan Chase & Co. boosted their price target on New York Times from $71.00 to $74.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Barclays upped their price objective 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, Morgan Stanley set a $90.00 target price on New York Times in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, New York Times presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.78.

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.