Pacer Advisors Inc. Makes New $1.84 Million Investment in New York Times Co (NYSE:NYT)

Pacer Advisors Inc. purchased a new stake in shares of New York Times Co (NYSE:NYT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 56,491 shares of the company’s stock, valued at approximately $1,843,000.

A number of other large investors have also recently modified their holdings of the business. Steward Partners Investment Advisory LLC bought a new stake in shares of New York Times during the 2nd quarter valued at $32,000. Trustcore Financial Services LLC purchased a new stake in New York Times in the 2nd quarter worth $41,000. FNY Investment Advisers LLC bought a new stake in New York Times during the second quarter valued at about $80,000. Gillespie Robinson & Grimm Inc. bought a new stake in New York Times during the second quarter valued at about $204,000. Finally, World Asset Management Inc lifted its position in shares of New York Times by 11.1% in the second quarter. World Asset Management Inc now owns 7,238 shares of the company’s stock valued at $236,000 after acquiring an additional 725 shares in the last quarter. 91.16% of the stock is currently owned by institutional investors and hedge funds.

NYT traded up $0.09 during trading on Wednesday, hitting $30.27. 18,820 shares of the company traded hands, compared to its average volume of 1,359,039. The company has a market cap of $5.02 billion, a PE ratio of 37.56 and a beta of 1.20. The stock’s 50-day simple moving average is $30.99 and its two-hundred day simple moving average is $32.90. New York Times Co has a 1 year low of $21.34 and a 1 year high of $36.25.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. New York Times had a net margin of 7.55% and a return on equity of 13.40%. The company had revenue of $436.30 million for the quarter, compared to the consensus estimate of $439.20 million. During the same period in the previous year, the firm posted $0.17 EPS. New York Times’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts anticipate that New York Times Co will post 0.81 earnings per share for the current fiscal year.

A number of research firms have recently weighed in on NYT. Evercore ISI set a $38.00 price objective on New York Times and gave the stock a “buy” rating in a research note on Wednesday, August 7th. ValuEngine downgraded New York Times from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research raised New York Times from a “sell” rating to a “hold” rating and set a $32.00 price target on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $32.20.

New York Times Profile

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. The company offers 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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Institutional Ownership by Quarter for New York Times (NYSE:NYT)

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