On August 12, 2024, Meredith A. Kopit Levien, President and CEO of New York Times Co (NYSE:NYT), sold 18,300 shares of the company’s stock at an average price of $53.92 per share. The transaction had a total value of around $986,736. Following this transaction, the insider now directly owns 101,772 shares of the company’s stock, as listed in the SEC filing.
New York Times Co (NYSE:NYT), known for its great influence in the media industry, focuses primarily on creating, gathering and distributing news and information. The company offers its content through various print, digital and mobile platforms.
Over the past year, insiders have sold a total of 44,391 shares and made no purchases. This latest sale continues a trend seen over the past year, when there were seven insider sales and no insider purchases.
New York Times Co. shares traded at $53.92 on the day of the sale, giving the company a market capitalization of approximately $8.96 billion. The price-to-earnings ratio is 33.68, which is above the industry average of 17.01.
The stock is considered slightly overvalued according to GF Value with a price-GF-value ratio of 1.2 (based on a GF Value of USD 44.94). The GF Value is calculated taking into account historical trading multiples, an adjustment factor based on past earnings and growth, and estimates of future business development.
This insider sale may be of interest to investors who track ownership changes and evaluate the company’s current stock valuation in terms of its intrinsic value.
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