NYT Exec’s Big Sell Signals Possible Shake‑Up as Stock Hits 52‑Week High

Insider Selling Signals a Shift in Confidence? BENTEN R. ANTHONY, the New York Times’ SVP of Treasury and CAO, sold 1,913 Class A shares at an average of $73.57 on February 17, 2026—just two days after the company’s stock closed at $75.50. The sale, occurring when the share price was near a 52‑week high, is noteworthy for a senior executive who has long been a silent backer of the Times. While the transaction represents only 0.01 % of the total outstanding shares, it is the first large sale by a high‑level insider in the past 18 months, raising questions about the company’s near‑term trajectory.

Market Reaction and Social‑Media Sentiment The insider sale coincided with a modest 4.41 % weekly gain and a 7.40 % monthly rise, but sentiment metrics painted a mixed picture. A social‑media sentiment score of –30 and a buzz index of 44 % suggest that the broader community viewed the trade with caution, even as the share price continued to climb. The timing—shortly after Berkshire Hathaway’s renewed stake announcement—may have amplified speculation that the Times is now in a “transition” phase, with executives reassessing their long‑term outlook.

Comparing Recent Insider Activity Across the board, other insiders have been predominantly buyers. From January 16 to early February, senior executives such as Golden Arthur, Tishler, and Bronstein purchased dozens of shares each, collectively adding roughly 120,000 shares to their holdings. This buying trend contrasts sharply with Anthony’s sale and may indicate a divide in internal sentiment: while senior management is accumulating shares, the CFO is divesting. Analysts often interpret such disparities as a signal that a subset of insiders believes the company’s valuation is over‑inflated or that upcoming challenges—such as digital ad revenue decline or editorial restructuring—could erode future earnings.

Implications for Investors For investors, Anthony’s sale is a “red flag” that warrants close monitoring but should not trigger an immediate sell. The company’s fundamentals remain solid: a market cap of $12 billion, a P/E of 35.59, and a strong media portfolio that has attracted Berkshire’s attention. However, the sale may foreshadow a potential correction if the company’s growth prospects dim or if the Times’ revenue diversification slows. Short‑term traders could look for a temporary pullback around the $73–$74 range, while long‑term holders might view this as an opportunity to buy on a dip if they believe the Times’ core business model remains resilient.

Outlook: Stability Amid Uncertainty Overall, the insider sale underscores a cautious sentiment among senior finance leadership while the broader management team remains bullish. As the Times continues to navigate the evolving media landscape and capitalizes on Berkshire’s partnership, investors should stay alert to future insider transactions and earnings releases. The company’s recent price momentum, coupled with a high valuation, suggests that any correction would likely be modest and driven more by market sentiment than by structural business risks.