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 note issued to investors on Thursday.

Separately, Morgan Stanley dropped their price target on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.00.

New York Times Trading Down 1.7 %

NYSE NYT traded down $0.87 on Thursday, hitting $48.74. 1,859,179 shares of the company traded hands, compared to its average volume of 1,270,935. The business’s 50 day moving average price is $49.68 and its 200-day moving average price is $52.62. The company has a market capitalization of $7.96 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 1.75 and a beta of 1.18. New York Times has a 52-week low of $41.55 and a 52-week high of $58.16.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. As a group, sell-side analysts predict that New York Times will post 2.08 earnings per share for the current year.

Institutional Investors Weigh In On New York Times

A number of institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of New York Times by 511.7% during the fourth 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. purchased a new stake in New York Times in the 4th quarter worth $36,000. UMB Bank n.a. boosted its holdings 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 valued at $39,000 after purchasing an additional 283 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings 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, Bessemer Group Inc. grew its position 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 valued at $99,000 after purchasing an additional 212 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

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.