New York Times Co. (NYT) Shares Decline Despite Market Challenges

New York Times Co. (NYSE: NYT) has experienced a decline in its stock price by -0.48 compared to its previous closing price of 49.50. However, the company has seen a gain of 0.86% in its stock price over the last five trading days. https://www.businesswire.com reported 2024-05-20 that NEW YORK–(BUSINESS WIRE)–The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of Wisconsin on behalf of those who acquired Harbor Diversified, Inc. (“Harbor Diversified” or the “Company”) (OTC: HRBR) securities during the period of May 10, 2022 and March 29, 2024, inclusive (“the Class Period”). Investors have until July 8, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit. [Click here to learn more about the class action] On March 29, 2024, Harbor Diversified disclosed that its previously issued financial statements as of December 2022 should no longer be relied upon due to misstatements related to the accounting for certain revenue under the capacity purchase agreement previously entered into between Air Wisconsin Airlines LLC, a wholly owned subsidiary of the Company, and United Airlines, Inc. On this news, the price of Harbor Diversified shares declined by $0.29 per share, or approximately 14.3%, from $2.02 per share on March 28, 2024 to close at $1.73 on April 1, 2024. The lawsuit alleges that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) Harbor Diversified’s financial statements from May 9, 2022 to the present were misstated due to improper revenue recognition; and (2) Harbor Diversified lacked adequate internal controls. If you purchased or otherwise acquired Harbor Diversified securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this CONTACT FORM, to discuss your rights or interests with respect to these matters without any cost to you. Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Is It Worth Investing in New York Times Co. (NYSE: NYT) Right Now?

The price-to-earnings ratio for New York Times Co. (NYSE: NYT) is above average at 32.56x, Company’s 36-month beta value is 1.04.Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 4 as “hold,” and 1 as “sell.”

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free
Sponsored

The public float for NYT is 160.00M, and currently, short sellers hold a 3.19% ratio of that floaft. The average trading volume of NYT on May 24, 2024 was 1.21M shares.

NYT’s Market Performance

NYT’s stock has seen a 0.86% increase for the week, with a 13.76% rise in the past month and a 13.11% gain in the past quarter. The volatility ratio for the week is 1.52%, and the volatility levels for the past 30 days are at 2.10% for New York Times Co. The simple moving average for the past 20 days is 5.76% for NYT’s stock, with a 10.82% simple moving average for the past 200 days.

Analysts’ Opinion of NYT

Many brokerage firms have already submitted their reports for NYT stocks, with Citigroup repeating the rating for NYT by listing it as a “Buy.” The predicted price for NYT in the upcoming period, according to Citigroup is $52 based on the research report published on March 12, 2024 of the current year 2024.

Argus, on the other hand, stated in their research note that they expect to see NYT reach a price target of $51. The rating they have provided for NYT stocks is “Buy” according to the report published on March 04th, 2024.

Barclays gave a rating of “Equal Weight” to NYT, setting the target price at $36 in the report published on February 09th of the previous year.

NYT Trading at 10.60% from the 50-Day Moving Average

After a stumble in the market that brought NYT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -1.22% of loss for the given period.

Volatility was left at 2.10%, however, over the last 30 days, the volatility rate increased by 1.52%, as shares surge +13.90% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +12.03% upper at present.

During the last 5 trading sessions, NYT rose by +0.86%, which changed the moving average for the period of 200-days by +11.22% in comparison to the 20-day moving average, which settled at $46.88. In addition, New York Times Co. saw 0.55% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at NYT starting from BENTEN R ANTHONY, who sale 5,171 shares at the price of $48.98 back on May 21 ’24. After this action, BENTEN R ANTHONY now owns 38,576 shares of New York Times Co., valued at $253,283 using the latest closing price.

KOPIT LEVIEN MEREDITH A., the PRESIDENT & CEO of New York Times Co., sale 12,548 shares at $47.72 during a trade that took place back on May 10 ’24, which means that KOPIT LEVIEN MEREDITH A. is holding 120,072 shares at $598,841 based on the most recent closing price.

Stock Fundamentals for NYT

Current profitability levels for the company are sitting at:

  • 0.12 for the present operating margin
  • 0.47 for the gross margin

The net margin for New York Times Co. stands at 0.1. The total capital return value is set at 0.14. Equity return is now at value 15.08, with 9.83 for asset returns.

Currently, EBITDA for the company is 401.32 million with net debt to EBITDA at -0.5. When we switch over and look at the enterprise to sales, we see a ratio of 3.19. The receivables turnover for the company is 13.59for trailing twelve months and the total asset turnover is 0.94. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.25.

Conclusion

In a nutshell, New York Times Co. (NYT) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.

Most Popular

Related Posts