New York Times (NYSE:NYT) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

New York Times (NYSE:NYT) had its price objective raised by equities researchers at Deutsche Bank Aktiengesellschaft from $65.00 to $66.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 23.92% from the stock’s current price.

Several other brokerages have also weighed in on NYT. Barclays increased their price objective on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their price objective on shares of New York Times from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, New York Times has an average rating of “Moderate Buy” and a consensus price target of $52.86.

New York Times Trading Up 1.5 %

Shares of New York Times stock traded up $0.81 during mid-day trading on Tuesday, hitting $53.26. 281,230 shares of the stock were exchanged, compared to its average volume of 1,098,191. New York Times has a twelve month low of $41.02 and a twelve month high of $57.08. The stock has a market capitalization of $8.75 billion, a price-to-earnings ratio of 32.93 and a beta of 1.02. The company has a 50-day simple moving average of $54.78 and a 200 day simple moving average of $52.07.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. The business had revenue of $640.20 million for the quarter, compared to analyst estimates of $641.00 million. New York Times had a net margin of 10.81% and a return on equity of 17.45%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 EPS. Equities research analysts forecast that New York Times will post 1.83 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $53.92, for a total transaction of $986,736.00. Following the sale, the chief executive officer now owns 101,772 shares in the company, valued at $5,487,546.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $53.92, for a total transaction of $986,736.00. Following the completion of the sale, the chief executive officer now owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO William Bardeen sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $54.56, for a total transaction of $109,120.00. Following the sale, the chief financial officer now directly owns 10,315 shares of the company’s stock, valued at $562,786.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Trading of New York Times

A number of hedge funds have recently made changes to their positions in NYT. UMB Bank n.a. grew its position in shares of New York Times by 356.4% during the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after buying an additional 360 shares in the last quarter. GAMMA Investing LLC grew its position in shares of New York Times by 129.4% during the second quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock worth $72,000 after buying an additional 792 shares in the last quarter. Signaturefd LLC boosted its holdings in New York Times by 34.2% in the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after purchasing an additional 432 shares during the period. Blue Trust Inc. boosted its holdings in New York Times by 401.8% in the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock worth $115,000 after purchasing an additional 1,800 shares during the period. Finally, Paladin Wealth LLC acquired a new position in New York Times in the third quarter worth $172,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Company Profile

The New York Times Company, together with its subsidiaries, creates, collects, and distributes news and information worldwide. The company operates through two segments, The New York Times Group and The Athletic. It offers The New York Times (The Times) through company’s mobile application, website, printed newspaper, and associated content, such as podcast.