Lazard Asset Management LLC Purchases 3,894 Shares of The New York Times Company (NYSE:NYT)

Lazard Asset Management LLC increased its position in shares of The New York Times Company (NYSE:NYT) by 31.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,462 shares of the company’s stock after buying an additional 3,894 shares during the period. Lazard Asset Management LLC’s holdings in New York Times were worth $856,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NYT. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in New York Times by 511.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company’s stock worth $25,000 after acquiring an additional 394 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new position in shares of New York Times in the fourth quarter worth about $36,000. UMB Bank n.a. lifted its position in shares of New York Times by 61.4% during the 4th quarter. UMB Bank n.a. now owns 744 shares of the company’s stock worth $39,000 after purchasing an additional 283 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of 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 during the last quarter. Finally, Bessemer Group Inc. boosted its stake in New York Times by 12.6% during the 4th quarter. Bessemer Group Inc. now owns 1,895 shares of the company’s stock valued at $99,000 after purchasing an additional 212 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

New York Times Trading Up 0.2%

Shares of NYSE NYT opened at $55.37 on Wednesday. The firm has a market capitalization of $9.03 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 1.75 and a beta of 1.16. The New York Times Company has a one year low of $44.83 and a one year high of $58.16. The business has a fifty day simple moving average of $50.35 and a 200 day simple moving average of $51.56.

New York Times (NYSE:NYT) last announced its quarterly earnings data 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 net margin of 11.36% and a return on equity of 18.51%. The company had revenue of $635.91 million during the quarter, compared to analysts’ expectations of $634.99 million. During the same quarter in the prior year, the company posted $0.31 EPS. The business’s revenue was up 7.1% on a year-over-year basis. On average, research analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

New York Times 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.