Lazard Asset Management LLC Has $856,000 Position in The New York Times Company (NYSE:NYT)

Lazard Asset Management LLC grew its position in The New York Times Company (NYSE:NYT) by 31.0% during the 4th quarter, Holdings Channel reports. The firm owned 16,462 shares of the company’s stock after purchasing an additional 3,894 shares during the quarter. Lazard Asset Management LLC’s holdings in New York Times were worth $856,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in New York Times by 511.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company’s stock worth $25,000 after buying an additional 394 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new position in shares of New York Times in the fourth quarter valued at approximately $36,000. UMB Bank n.a. boosted its holdings in shares of New York Times by 61.4% in the 4th quarter. UMB Bank n.a. now owns 744 shares of the company’s stock worth $39,000 after acquiring an additional 283 shares in the last quarter. Smartleaf Asset Management LLC grew its position in New York Times by 27.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock worth $60,000 after acquiring an additional 247 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in New York Times by 12.6% during the 4th quarter. Bessemer Group Inc. now owns 1,895 shares of the company’s stock worth $99,000 after acquiring an additional 212 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NYT. Morgan Stanley decreased their target price on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Guggenheim increased their price objective on shares of New York Times from $52.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Finally, StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a research note on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.00.

New York Times Stock Up 0.2%

New York Times stock opened at $55.37 on Wednesday. The business’s 50-day simple moving average is $50.35 and its 200 day simple moving average is $51.56. The stock has a market cap of $9.03 billion, a price-to-earnings ratio of 31.11, a P/E/G ratio of 1.75 and a beta of 1.16. The New York Times Company has a 12-month low of $44.83 and a 12-month high of $58.16.

New York Times (NYSE:NYT) last released its earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. The company had revenue of $635.91 million for the quarter, compared to the consensus estimate of $634.99 million. During the same period in the prior year, the company posted $0.31 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts expect that The New York Times Company will post 2.08 EPS for the current year.

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.