Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. New York Times Co. shares valued at $299,880 were sold by Brayton Diane on Feb 22 ’24. At $42.84 per share, Brayton Diane sold 7,000 shares. The insider’s holdings dropped to 39,312 shares worth approximately $1.72 million following the completion of this transaction.
Also, KOPIT LEVIEN MEREDITH A. sold 13,543 shares, netting a total of over 597,382 in proceeds. Following the sale of shares at $44.11 each, the insider now holds 90,759 shares.
Before that, Perpich David S. had sold 3,014 shares from its account. In a trade valued at $132,706, the Director traded New York Times Co. shares for $44.03 each. Upon closing the transaction, the insider’s holdings decreased to 3,014 shares, worth approximately $0.91 million.
As published in their initiating research note from Citigroup on March 12, 2024, New York Times Co. [NYT] has been a Buy and the price target has been revised to $52. Analysts at Argus upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early March. As of February 09, 2023, Barclays has increased its “an Underweight” rating to a “an Equal weight” for NYT. Earlier on December 16, 2022, Morgan Stanley downgraded its rating. Their new recommendation was “an Equal-weight” for NYT stock which previously was a “an Overweight”.
Analyzing NYT Stock Performance
During the last five days, there has been a surge of approximately 1.56%. Over the course of the year, New York Times Co. shares have dropped approximately -10.82%. Shares of the company reached a 52-week high of $49.87 on 01/30/24 and a 52-week low of $42.05 on 03/04/24. A 50-day SMA is recorded $44.06, while a 200-day SMA reached $43.77. Nevertheless, trading volume fell to 1.16 million shares from 1.0 million shares the previous day.
Support And Resistance Levels for New York Times Co. (NYT)
According to the 24-hour chart, there is a support level at 43.36, which, if violated, would cause prices to drop to 43.02. In the upper region, resistance lies at 43.96. The next price resistance is at 44.22. RSI (Relative Strength Index) is 51.05 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.17, which suggests the price will decrease in the coming days. Percent R is at 26.58%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is New York Times Co. subject to short interest?
Stocks of New York Times Co. saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.29 million shares to 5.11 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 4.82 million shares. A jump of 5.68% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.89 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.89.
