The New York Times Company (NYT) may enjoy gains as insiders got busy in the recent days


The New York Times Company’s filing revealed that its PRESIDENT & CEO KOPIT LEVIEN MEREDITH A. unloaded Company’s shares for reported $1.19 million on Feb 17. In the deal valued at $40.05 per share,29,758 shares were sold. As a result of this transaction, KOPIT LEVIEN MEREDITH A. now holds 74,610 shares worth roughly $ 2.91 million.

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Then, Caputo Roland A. sold 12,500 shares, generating $493,008 in total proceeds. Upon selling the shares at $39.44, the EVP and CFO now owns 62,853 shares.

Before that, Perpich David S. sold 6,478 shares. The New York Times Company shares valued at $231,336 were divested by the Director at a price of $35.71 per share. As a result of the transaction, Perpich David S. now holds 19,699 shares, worth roughly $0.77 million.

Barclays upgraded its The New York Times Company [NYT] rating to an Equal weight from a an Underweight in a research note published on Friday, February 09, 2023; the price target was increased to $36 from $25. PT values the company’s stock at a premium of -8.47 to its Friday closing price. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who decreased its forecast for the stock in mid December from “an Overweight” to “an Equal-weight”. Wolfe Research also remained covering NYT and has decreased its forecast on December 06, 2021 with a “Peer perform” recommendation from previously “an Outperform” rating.

Price Performance Review of NYT

On Friday, The New York Times Company [NYSE:NYT] saw its stock fall -1.31% to $39.05. On the same session, the stock had its day’s lowest price of $38.63, but rose to a high of $39.285. Over the last five days, the stock has lost -1.46%. The New York Times Company shares have risen nearly 20.30% since the year began. Nevertheless, the stocks have fallen -3.34% over the past one year. While a 52-week high of $47.67 was reached on 02/08/23, a 52-week low of $27.58 was recorded on 01/03/23. SMA at 50 days reached $35.37, while 200 days put it at $32.52. A total of 1.28 million shares were traded, compared to the trading of 1.14 million shares in the previous session.

Levels Of Support And Resistance For NYT Stock

The 24-hour chart illustrates a support level at 38.69, which if violated will result in even more drops to 38.33. On the upside, there is a resistance level at 39.35. A further resistance level may holdings at 39.64. The Relative Strength Index (RSI) on the 14-day chart is 59.66, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.12, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 51.38%. Stochastics %K at 56.04% indicates the stock is a holding.

How much short interest is there in The New York Times Company?

A steep rise in short interest was recorded in The New York Times Company stocks on Jan 12, 2023, dropping by -0.25 million shares to a total of 3.83 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 4.08 million shares. There was a decline of -6.53%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.37% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.12.

The New York Times Company [NYT] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 15,847,837 shares, or roughly 9.58% of the outstanding NYT shares. In other words, the investor’s shares have risen by 243,307 from its previous 13-F filing of 15604530.0. Additionally, ValueAct Capital Management LP increased 17.49% of its stake after which the total value it holdings stand at $475,430,542, while BlackRock Fund Advisors added 3.23% of its stake to hold $455.5 million in the firm. Over the last quarter, Stockbridge Partners LLC purchased 419,442 shares of The New York Times Company, while Jackson Square Partners LLC bought -898,603 shares. At present, Wellington Management Co. LLP is holding 6,248,972 shares valued at $217.71 million. Farallon Capital Management LLC owned 6,068,791 shares of the company at the time of its most recent 13F filing, worth $211.44 million.

According to FactSet, The New York Times Company’s share price will average $38.92 in the next year, based on opinions of analysts polled by the firm. This is down nearly -1.44 percent from its previous closing price of $39.57. Analysts expect The New York Times Company stock to reach the higher price of $45.00, while the lowest price estimate is $31.50. However, 7 analysts have rated NYT stock as an Overweight in their predictions for 2023.


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