New York Times (NYSE:NYT) Cut to Hold at StockNews.com

New York Times (NYSE:NYT) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. increased their target price on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price objective on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.83.

New York Times Stock Down 12.0 %

NYT traded down $6.69 during trading hours on Wednesday, hitting $49.21. The stock had a trading volume of 5,549,081 shares, compared to its average volume of 1,707,325. New York Times has a 1 year low of $41.55 and a 1 year high of $58.16. The company’s fifty day simple moving average is $53.52 and its 200 day simple moving average is $54.12. The stock has a market cap of $8.07 billion, a PE ratio of 29.12, a price-to-earnings-growth ratio of 1.51 and a beta of 1.01.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.06. New York Times had a net margin of 11.04% and a return on equity of 17.75%. As a group, equities analysts expect that New York Times will post 1.84 EPS for the current year.

Hedge Funds Weigh In On New York Times

A number of institutional investors have recently added to or reduced their stakes in NYT. Coldstream Capital Management Inc. grew its position in New York Times by 4.3% in the third quarter. Coldstream Capital Management Inc. now owns 4,666 shares of the company’s stock worth $260,000 after acquiring an additional 193 shares in the last quarter. Brown Financial Advisors boosted its holdings in shares of New York Times by 2.3% in the 4th quarter. Brown Financial Advisors now owns 8,996 shares of the company’s stock worth $468,000 after purchasing an additional 200 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of New York Times by 0.7% in the 4th quarter. IFP Advisors Inc now owns 34,368 shares of the company’s stock worth $1,789,000 after purchasing an additional 224 shares in the last quarter. Smartleaf Asset Management LLC increased 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 valued at $60,000 after purchasing an additional 247 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of New York Times by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 5,092 shares of the company’s stock valued at $265,000 after buying an additional 269 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

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.