Deep Field Asset Management LLC decreased its stake in New York Times Co (NYSE:NYT) by 73.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 50,000 shares of the company’s stock after selling 135,200 shares during the quarter. New York Times accounts for about 0.9% of Deep Field Asset Management LLC’s investment portfolio, making the stock its 9th largest holding. Deep Field Asset Management LLC’s holdings in New York Times were worth $1,631,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC acquired a new position in shares of New York Times in the 2nd quarter valued at $32,000. Trustcore Financial Services LLC acquired a new stake in New York Times during the 2nd quarter worth about $41,000. FNY Investment Advisers LLC acquired a new stake in New York Times during the 2nd quarter worth about $80,000. Natixis acquired a new stake in New York Times during the 2nd quarter worth about $202,000. Finally, Gillespie Robinson & Grimm Inc. acquired a new stake in New York Times during the 2nd quarter worth about $204,000. Institutional investors and hedge funds own 91.12% of the company’s stock.
Shares of New York Times stock opened at $28.82 on Friday. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 35.58 and a beta of 1.20. New York Times Co has a 52-week low of $21.34 and a 52-week high of $36.25. The stock has a 50-day simple moving average of $30.07 and a 200-day simple moving average of $32.77.
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 the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The business had revenue of $436.30 million during the quarter, compared to analyst estimates of $439.20 million. New York Times had a return on equity of 13.40% and a net margin of 7.55%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.17 EPS. On average, equities research analysts predict that New York Times Co will post 0.81 EPS for the current year.
A number of brokerages have commented on NYT. ValuEngine lowered New York Times from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded New York Times from a “sell” rating to a “hold” rating and set a $32.00 price objective for the company in a research report on Wednesday, September 11th. Finally, Evercore ISI set a $38.00 price objective on New York Times and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. New York Times presently has an average rating of “Buy” and a consensus price target of $32.20.
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 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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