The Attractiveness of Investing In New York Times Co. (NYT) is Growing

New York Times Co.’s recently made public that its Chairman and Publisher Sulzberger Arthur G. unloaded Company’s shares for reported $0.38 million on Aug 11. In the deal valued at $44.23 per share,8,500 shares were sold. As a result of this transaction, Sulzberger Arthur G. now holds 101,691 shares worth roughly $4.46 million.

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Then, KOPIT LEVIEN MEREDITH A. sold 22,788 shares, generating $1,000,797 in total proceeds. Upon selling the shares at $43.92, the PRESIDENT & CEO now owns 104,302 shares.

Before that, Brayton Diane sold 11,000 shares. New York Times Co. shares valued at $484,306 were divested by the EVP, GENERAL COUNSEL at a price of $44.03 per share. As a result of the transaction, Brayton Diane now holds 36,741 shares, worth roughly $1.61 million.

Barclays upgraded its New York Times Co. [NYT] rating to an Equal weight from a an Underweight in a research note published on February 09, 2023; the price target was increased to $36 from $25.

Price Performance Review of NYT

On Friday, New York Times Co. [NYSE:NYT] saw its stock jump 0.37% to $43.90. Over the last five days, the stock has lost -9.73%. New York Times Co. shares have fallen nearly -10.39% since the year began. Nevertheless, the stocks have risen 6.73% over the past one year. While a 52-week high of $49.87 was reached on 01/30/24, a 52-week low of $35.06 was recorded on 02/08/24. SMA at 50 days reached $47.36, while 200 days put it at $42.47. A total of 1.36 million shares were traded, compared to the trading of 2.47 million shares in the previous session.

Levels Of Support And Resistance For NYT Stock

The 24-hour chart illustrates a support level at 43.68, which if violated will result in even more drops to 43.45. On the upside, there is a resistance level at 44.20. A further resistance level may holdings at 44.49. The Relative Strength Index (RSI) on the 14-day chart is 31.92, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.66, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 91.56%. Stochastics %K at 11.83% indicates the stock is a buying.

How much short interest is there in New York Times Co.?

A steep rise in short interest was recorded in New York Times Co. stocks on Jan 31, 2024, dropping by -1.04 million shares to a total of 4.81 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2023 was 5.85 million shares. There was a decline of -21.62%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.00% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.84.

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