Twin Capital Management Inc. Decreases Position in Time Warner Inc. (TWX)
Twin Capital Management Inc. cut its holdings in shares of Time Warner Inc. (NYSE:TWX) by 34.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 73,970 shares of the media conglomerate’s stock after selling 38,570 shares during the period. Twin Capital Management Inc.’s holdings in Time Warner were worth $7,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bellwether Investment Group LLC increased its holdings in Time Warner by 15.6% in the first quarter. Bellwether Investment Group LLC now owns 1,083 shares of the media conglomerate’s stock valued at $106,000 after buying an additional 146 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in Time Warner by 9.9% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,109 shares of the media conglomerate’s stock valued at $109,000 after buying an additional 100 shares in the last quarter. Advisory Services Network LLC purchased a new position in Time Warner in the first quarter valued at $138,000. Archford Capital Strategies LLC increased its holdings in Time Warner by 43.5% in the first quarter. Archford Capital Strategies LLC now owns 1,587 shares of the media conglomerate’s stock valued at $155,000 after buying an additional 481 shares in the last quarter. Finally, City Holding Co. increased its holdings in Time Warner by 7.7% in the second quarter. City Holding Co. now owns 1,715 shares of the media conglomerate’s stock valued at $172,000 after buying an additional 123 shares in the last quarter. Institutional investors own 79.28% of the company’s stock.
Time Warner Inc. (TWX) opened at 100.20 on Friday. Time Warner Inc. has a 12-month low of $74.27 and a 12-month high of $103.34. The firm has a 50-day moving average of $101.62 and a 200 day moving average of $99.55. The firm has a market capitalization of $77.94 billion, a price-to-earnings ratio of 18.59 and a beta of 1.04.
Time Warner (NYSE:TWX) last released its earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.14. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. The business had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same period last year, the company earned $1.29 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts predict that Time Warner Inc. will post $6.10 EPS for the current year.
In related news, CFO Howard M. Averill bought 255 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were acquired at an average cost of $99.67 per share, with a total value of $25,415.85. Following the completion of the transaction, the chief financial officer now owns 63,399 shares of the company’s stock, valued at $6,318,978.33. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by company insiders.
A number of research analysts have weighed in on TWX shares. BMO Capital Markets reaffirmed a “hold” rating and issued a $108.00 price objective on shares of Time Warner in a report on Friday, May 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Time Warner in a report on Monday, May 22nd. Royal Bank Of Canada set a $108.00 price objective on shares of Time Warner and gave the company a “hold” rating in a report on Monday, June 12th. BidaskClub raised shares of Time Warner from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Time Warner in a report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $102.25.
Time Warner Company Profile
Time Warner Inc is a media and entertainment company. The Company operates through three segments: Turner, which consists of cable networks and digital media properties; Home Box Office, which consists of premium pay television and over the top (OTT) services and premium pay, basic tier television and OTT services internationally, and Warner Bros., which consists of television, feature film, home video, and videogame production and distribution.
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