New York Times (NYSE:NYT) Lowered to Hold Rating by StockNews.com

New York Times (NYSE:NYT) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Separately, Morgan Stanley decreased their price objective 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $56.00.

New York Times Trading Down 1.7 %

NYT traded down $0.87 during trading hours on Thursday, hitting $48.74. The company’s stock had a trading volume of 1,859,179 shares, compared to its average volume of 1,270,935. The stock has a market cap 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. The business’s 50-day moving average price is $49.68 and its 200-day moving average price is $52.62. New York Times has a 12 month low of $41.55 and a 12 month high of $58.16.

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 analysts’ consensus estimates of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. On average, analysts forecast that New York Times will post 2.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NYT. Baillie Gifford & Co. lifted its stake in shares of New York Times by 228.3% during the 4th quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company’s stock worth $132,040,000 after acquiring an additional 1,764,078 shares during the last quarter. Squarepoint Ops LLC increased its stake in New York Times by 210.5% in the fourth quarter. Squarepoint Ops LLC now owns 1,382,695 shares of the company’s stock worth $71,969,000 after purchasing an additional 937,354 shares during the period. Millennium Management LLC lifted its position in shares of New York Times by 133.6% during the fourth quarter. Millennium Management LLC now owns 1,559,837 shares of the company’s stock worth $81,190,000 after purchasing an additional 892,155 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of New York Times by 87.6% during the fourth quarter. Alliancebernstein L.P. now owns 1,908,477 shares of the company’s stock valued at $99,336,000 after purchasing an additional 891,249 shares during the period. Finally, Darsana Capital Partners LP grew its holdings in shares of New York Times by 15.0% in the fourth quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company’s stock worth $299,288,000 after purchasing an additional 750,000 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

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.