NBC Securities Inc. Purchases 8,541 Shares of The New York Times Company (NYSE:NYT) (2024)

Posted by Defense World Staff on Jun 21st, 2024

NBC Securities Inc. lifted its stake in shares of The New York Times Company (NYSE:NYT – Free Report) by 292.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,461 shares of the company’s stock after buying an additional 8,541 shares during the quarter. NBC Securities Inc.’s holdings in New York Times were worth $495,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Kapitalo Investimentos Ltda grew its position in shares of New York Times by 14.6% during the 4th quarter. Kapitalo Investimentos Ltda now owns 23,818 shares of the company’s stock worth $1,167,000 after buying an additional 3,038 shares during the period. Vanguard Group Inc. grew its position in shares of New York Times by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 15,809,453 shares of the company’s stock worth $774,505,000 after buying an additional 80,075 shares during the period. Nebula Research & Development LLC acquired a new stake in shares of New York Times during the 4th quarter worth approximately $867,000. Junto Capital Management LP acquired a new stake in shares of New York Times during the 4th quarter worth approximately $18,255,000. Finally, Capital Fund Management S.A. grew its position in shares of New York Times by 17.6% during the 4th quarter. Capital Fund Management S.A. now owns 316,430 shares of the company’s stock worth $15,502,000 after buying an additional 47,453 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NYT shares. Citigroup assumed coverage on shares of New York Times in a research report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price objective for the company. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Argus raised shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Monday, March 4th. Finally, Evercore ISI lifted their price target on shares of New York Times from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.71.

Check Out Our Latest Stock Analysis on New York Times

Insiders Place Their Bets

In other New York Times news, CEO Levien Meredith A. Kopit sold 12,548 shares of New York Times stock in a transaction on Friday, May 10th. The shares were sold at an average price of $47.72, for a total transaction of $598,790.56. Following the transaction, the chief executive officer now directly owns 120,072 shares of the company’s stock, valued at approximately $5,729,835.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Levien Meredith A. Kopit sold 12,548 shares of New York Times stock in a transaction on Friday, May 10th. The stock was sold at an average price of $47.72, for a total transaction of $598,790.56. Following the sale, the chief executive officer now directly owns 120,072 shares in the company, valued at approximately $5,729,835.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO R Anthony Benten sold 5,171 shares of New York Times stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $48.98, for a total value of $253,275.58. Following the sale, the chief accounting officer now owns 38,576 shares in the company, valued at $1,889,452.48. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

New York Times Price Performance

NYT opened at $50.11 on Friday. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 33.41 and a beta of 1.05. The firm’s fifty day moving average price is $47.38 and its two-hundred day moving average price is $46.22. The New York Times Company has a 1 year low of $37.36 and a 1 year high of $51.98.

New York Times (NYSE:NYT – Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.11. The firm had revenue of $594.00 million for the quarter, compared to the consensus estimate of $591.97 million. New York Times had a net margin of 10.19% and a return on equity of 17.33%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.19 EPS. As a group, equities analysts anticipate that The New York Times Company will post 1.77 EPS for the current year.