New York Times Co (NYT) Stake Lessened by Commonwealth of Pennsylvania Public School Empls Retrmt SYS
Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in shares of New York Times Co (NYSE:NYT) by 17.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,670 shares of the company’s stock after selling 5,873 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in New York Times were worth $664,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. OppenheimerFunds Inc. boosted its holdings in New York Times by 10.9% during the second quarter. OppenheimerFunds Inc. now owns 23,282 shares of the company’s stock worth $603,000 after buying an additional 2,289 shares in the last quarter. Arizona State Retirement System boosted its holdings in New York Times by 2.7% during the second quarter. Arizona State Retirement System now owns 88,849 shares of the company’s stock worth $2,301,000 after buying an additional 2,337 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in New York Times by 5.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 49,980 shares of the company’s stock worth $1,294,000 after buying an additional 2,623 shares in the last quarter. Granite Investment Partners LLC boosted its holdings in New York Times by 0.5% during the second quarter. Granite Investment Partners LLC now owns 524,608 shares of the company’s stock worth $13,587,000 after buying an additional 2,663 shares in the last quarter. Finally, United Services Automobile Association boosted its holdings in New York Times by 12.3% during the second quarter. United Services Automobile Association now owns 28,049 shares of the company’s stock worth $726,000 after buying an additional 3,062 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.
In other New York Times news, Director Robert E. Denham sold 3,492 shares of the stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $27.84, for a total value of $97,217.28. Following the completion of the sale, the director now owns 45,237 shares in the company, valued at approximately $1,259,398.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Thompson sold 40,000 shares of the stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $25.90, for a total transaction of $1,036,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,492 shares of company stock valued at $3,190,617. Insiders own 5.20% of the company’s stock.
New York Times (NYSE:NYT) last released its earnings results on Thursday, November 1st. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. New York Times had a net margin of 0.79% and a return on equity of 15.14%. The company had revenue of $417.30 million during the quarter, compared to the consensus estimate of $409.80 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that New York Times Co will post 0.79 EPS for the current year.
A number of analysts recently weighed in on NYT shares. Zacks Investment Research cut shares of New York Times from a “hold” rating to a “strong sell” rating in a report on Friday, August 10th. ValuEngine upgraded shares of New York Times from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. JPMorgan Chase & Co. raised their target price on shares of New York Times to $32.00 and gave the stock an “overweight” rating in a report on Thursday, October 11th. Finally, Barclays cut shares of New York Times from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $20.00 to $18.00 in a report on Tuesday, November 6th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $25.33.
About New York Times
The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. The company provides The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.
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