StockNews.com Downgrades New York Times (NYSE:NYT) to Hold
research firms have also commented on NYT. The New York Times was downgraded from a "buy" rating to a "hold" rating by StockNews.com.
Investors received a research report on Wednesday that changed the rating from a "buy" to a "hold".
Other research analysts also published reports about NYT recently. Morgan Stanley raised their target price for shares of New York Times to $40.00 in a report published on Thursday, 9th February. They also gave the stock a 'equal-weight' rating. Barclays upgraded shares of New York Times to 'equal' weight and raised their target price from $25.00 up to $36.00. This was revealed in a report published on Thursday, 9th February. JPMorgan Chase & Co. raised their target price for shares of New York Times in a report published on March 15th from $38.00 up to $41.00. They also gave the stock a 'overweight rating'. Five analysts have given the stock a hold rating, and two others have given it a buy rating. On Wednesday, the stock opened at 39.89 dollars. The company has a market cap of $6.56billion, a P/E of 37.99, and a beta value of 0.99. New York Times's one-year low is $27.58 while its one-year high is $45.25. The 50-day moving average of the company is $38.49, and its 200-day moving average is $35.78.
New York Times announced on February 8th, that the Board of Directors had approved a plan to buyback shares worth $250,000,000. The company can purchase up to 3,8% of its stock through open market purchases. Typically, share buyback plans indicate that the company believes its stock is undervalued.
Insider Trading at New York Times
The company sold 12,500 shares in an exchange that took place on Friday, 10th February. The shares were purchased at an average of $39.44 for a transaction totaling $493,000.00. The chief financial officer owns directly 62,853 of the company's shares, worth $2,478,922.32. According to other New York Times reports, CEO Levien A. Meredith Kopit has sold 29,758 of the stock company in a deal that took place on Friday, 17th February. The shares were purchased at an average of $40.05, with a total worth of $1,191,807.90. After the completion of this transaction, the chief executives now owns 74610 shares valued at $2.988,130.50. The CFO Roland A. Caputo also sold 12,500 shares in the company on Friday, 10th February. The stock was purchased at an average of $39.44 for a transaction totaling $493,000.00. The chief financial officer owns 62.853 shares, worth $2,478,922.32, after the transaction. Insiders own 2.00% of shares.
New York Times: Hedge Funds weigh in
Recently, hedge funds changed their holdings in the company. BlackDiamond Wealth Management Inc. increased its holdings in New York Times shares by 5.4% during the third quarter. BlackDiamond Wealth Management Inc. owns 12,420 of the company’s shares worth $364,000. This is after buying an additional 638 during the period. CWM LLC increased its holdings in New York Times shares by 37.7% over the third quarter. CWM LLC owns 1,709 of the company’s shares worth $49,000, after purchasing an additional 468 during the third quarter. Russell Investments Group Ltd. increased its holdings in New York Times shares by 105.6% over the third quarter. Russell Investments Group Ltd. owns 100 675 shares of New York Times stock, worth $2 893 000, after adding 51 699 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in New York Times shares by 775.6% over the third quarter. Allianz Asset Management GmbH owns 290.380 shares worth $8.348,000, after adding 257.215 more shares in the last quarter. Farallon Capital Management LLC increased its holdings in New York Times shares by 13.8% over the third quarter. Farallon Capital Management LLC owns 7,828,073 of the company stock, worth $225,057,000, after adding 947,269 additional shares in the last quarter. Institutional investors own 99.15% the company's stock.
New York Times Company profile
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The New York Times Co. is a media company that creates, collects, and distributes news and information. It provides news products and products that are geared towards specific interests, as well as related content and service. It offers digital and print products, as well as investments, newspapers and other media. The company also manages The New York Times and NYTimes.com as well as mobile applications.
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