KD Logo

New York Times Co. (NYT) receives a Buy rating from Citigroup

New York Times Co.’s recently made public that its EVP, GENERAL COUNSEL Brayton Diane unloaded Company’s shares for reported $0.3 million on Feb 22 ’24. In the deal valued at $42.84 per share,7,000 shares were sold. As a result of this transaction, Brayton Diane now holds 39,312 shares worth roughly $1.72 million.

Then, KOPIT LEVIEN MEREDITH A. sold 13,543 shares, generating $597,382 in total proceeds. Upon selling the shares at $44.11, the PRESIDENT & CEO now owns 90,759 shares.

Before that, Perpich David S. sold 3,014 shares. New York Times Co. shares valued at $132,706 were divested by the Director at a price of $44.03 per share. As a result of the transaction, Perpich David S. now holds 20,813 shares, worth roughly $0.91 million.

Citigroup initiated its New York Times Co. [NYT] rating to a Buy in a research note published on March 12, 2024; the price target was $52. A number of analysts have revised their coverage, including Argus’s analysts, who increased its forecast for the stock in early March from “a Hold” to “a Buy”. Barclays also remained covering NYT and has increased its forecast on February 09, 2023 with a “an Equal weight” recommendation from previously “an Underweight” rating. Morgan Stanley revised its rating on December 16, 2022. It rated NYT as “an Equal-weight” which previously was an “an Overweight”.

Price Performance Review of NYT

On Monday, New York Times Co. [NYSE:NYT] saw its stock jump 1.14% to $43.66. Over the last five days, the stock has gained 1.18%. New York Times Co. shares have fallen nearly -10.88% since the year began. Nevertheless, the stocks have risen 11.41% 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 04/18/24. SMA at 50 days reached $43.27, while 200 days put it at $43.92. A total of 1.06 million shares were traded, compared to the trading of 0.77 million shares in the previous session.

Levels Of Support And Resistance For NYT Stock

The 24-hour chart illustrates a support level at 43.32, which if violated will result in even more drops to 42.98. On the upside, there is a resistance level at 43.99. A further resistance level may holdings at 44.32. The Relative Strength Index (RSI) on the 14-day chart is 56.26, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.52, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 13.35%. Stochastics %K at 76.18% indicates the stock is a holding.

Most Popular

[the_ad id="945"]