Two Sigma Advisers LP Has $29.99 Million Stock Holdings in The New York Times Company (NYSE:NYT)

Two Sigma Advisers LP increased its holdings in shares of The New York Times Company (NYSE:NYT) by 721.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 576,100 shares of the company’s stock after purchasing an additional 506,000 shares during the quarter. Two Sigma Advisers LP owned 0.35% of New York Times worth $29,986,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Brown Financial Advisors boosted its holdings in shares of New York Times by 2.3% in the fourth quarter. Brown Financial Advisors now owns 8,996 shares of the company’s stock valued at $468,000 after buying an additional 200 shares during the period. Bessemer Group Inc. raised its holdings in shares of New York Times by 12.6% during the fourth quarter. Bessemer Group Inc. now owns 1,895 shares of the company’s stock worth $99,000 after acquiring an additional 212 shares during the period. IFP Advisors Inc lifted its position in New York Times by 0.7% in the 4th quarter. IFP Advisors Inc now owns 34,368 shares of the company’s stock valued at $1,789,000 after acquiring an additional 224 shares in the last quarter. Natixis Advisors LLC boosted its stake in New York Times by 1.2% in the 4th quarter. Natixis Advisors LLC now owns 19,187 shares of the company’s stock worth $999,000 after purchasing an additional 228 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in New York Times by 27.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock worth $60,000 after purchasing an additional 247 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NYT shares. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a report on Friday, April 11th. Morgan Stanley dropped their target price on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Finally, Guggenheim upped their price target on New York Times from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

New York Times Price Performance

Shares of NYSE:NYT opened at $55.37 on Wednesday. The company’s 50-day moving average price is $50.35 and its two-hundred day moving average price is $51.56. The New York Times Company has a one year low of $44.83 and a one year high of $58.16. The stock has a market capitalization of $9.03 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 1.75 and a beta of 1.16.

New York Times (NYSE:NYT) last released its earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. The business had revenue of $635.91 million for the quarter, compared to the consensus estimate of $634.99 million. During the same quarter in the previous year, the business earned $0.31 earnings per share. New York Times’s quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

About New York Times

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.