The New York Times Company (NYT) – Don’t Be So Quick to Call it Dead

490 institutions hold shares in The New York Times Company (NYT), with 2.6M shares held by insiders accounting for 1.55% while institutional investors hold 99.84% of the company’s shares. The shares outstanding are 167.37M, and float is at 147.59M with Short Float at 9.55%. Institutions hold 98.30% of the Float.

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The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 13.67 million shares valued at $707.55 million. The investor’s holdings represent 8.20% of the NYT Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 12.58 million shares valued at $651.28 million to account for 7.55% of the shares outstanding. The other top investors are Capital World Investors which holds 10.05 million shares representing 6.03% and valued at over $520.42 million, while Darsana Capital Partners LP holds 6.00% of the shares totaling 10.0 million with a market value of $517.7 million.

The New York Times Company (NYSE: NYT) is -7.24% lower on its value in year-to-date trading and has touched a low of $28.50 and a high of $58.73 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The NYT stock was last observed hovering at around $48.48 in the last trading session, with the day’s loss setting it -0.46% off its average median price target of $56.50 for the next 12 months. It is also 23.78% off the consensus price target high of $63.00 offered by 9 analysts, but current levels are -60.07% lower than the price target low of $30.00 for the same period.

Currently trading at $48.02, the stock is -1.77% and -3.93% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.66 million and changing -0.95% at the moment leaves the stock 3.71% off its SMA200. NYT registered 60.23% gain for a year compared to 6-month gain of 9.61%. The firm has a 50-day simple moving average (SMA 50) of $50.48 and a 200-day simple moving average (SMA200) of $46.93.

The stock witnessed a -4.23% loss in the last 1 month and extending the period to 3 months gives it a -2.14%, and is -0.08% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.10% over the week and 2.72% over the month.

The New York Times Company (NYT) has around 4700 employees, a market worth around $8.07B and $1.78B in sales. Current P/E ratio is 80.57 and Fwd P/E is 39.14. Profit margin for the company is 5.60%. Distance from 52-week low is 68.49% and -18.24% from its 52-week high. The company has generated returns on investments over the last 12 months (6.10%).

The New York Times Company (NYT) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for The New York Times Company (NYT) is a “Overweight”. 9 analysts offering their recommendations for the stock have an average rating of 2.30, where 2 rate it as a Hold and 0 think it is a “Overweight”. 6 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

The New York Times Company is expected to release its quarterly report on 08/11/2021 and quarterly earnings per share for the current quarter are estimated at $0.14 with sales reaching $463.32M over the same period.The EPS is expected to shrink by -28.70% this year, but quarterly earnings will post 9.10% year-over-year. Quarterly sales are estimated to grow 4.40% in year-over-year returns.

The New York Times Company (NYT) Insider Activity

A total of 32 insider transactions have happened at The New York Times Company (NYT) in the last six months, with sales accounting for 9 and purchases happening 23 times. The most recent transaction is an insider sale by Sulzberger Arthur G., the company’s Chairman and Publisher. SEC filings show that Sulzberger Arthur G. sold 2,000 shares of the company’s common stock on Feb 25 at a price of $52.28 per share for a total of $0.1 million. Following the sale, the insider now owns 53619.0 shares.

The New York Times Company disclosed in a document filed with the SEC on Feb 18 that Perpich David S. (Director) sold a total of 1,332 shares of the company’s common stock. The trade occurred on Feb 18 and was made at $48.92 per share for $65168.0. Following the transaction, the insider now directly holds 18398.0 shares of the NYT stock.

Still, SEC filings show that on Dec 03, Perpich David S. (Director) disposed off 1,650 shares at an average price of $45.22 for $74613.0. The insider now directly holds 19,730 shares of The New York Times Company (NYT).

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The New York Times Company (NYT): Who are the competitors?

The company’s main competitors (and peers) include A.H. Belo Corporation (AHC) that is trading 48.97% up over the past 12 months. Daily Journal Corporation (DJCO) is 26.48% up on the 1-year trading charts. Short interest in the company’s stock has fallen -5.23% from the last report on Mar 30, 2021 to stand at a total of 14.09 million short shares sold with a short interest ratio of 8.01.

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