Time Warner Inc (TWX) Shares Bought by Boothbay Fund Management LLC
Boothbay Fund Management LLC grew its stake in Time Warner Inc (NYSE:TWX) by 687.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,306 shares of the media conglomerate’s stock after purchasing an additional 77,970 shares during the quarter. Time Warner makes up 1.5% of Boothbay Fund Management LLC’s holdings, making the stock its 7th biggest position. Boothbay Fund Management LLC’s holdings in Time Warner were worth $9,149,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Time Warner by 2.3% during the second quarter. Vanguard Group Inc. now owns 49,843,065 shares of the media conglomerate’s stock worth $5,004,741,000 after purchasing an additional 1,116,818 shares during the period. BlackRock Inc. raised its stake in Time Warner by 4.0% during the second quarter. BlackRock Inc. now owns 44,524,027 shares of the media conglomerate’s stock worth $4,470,656,000 after purchasing an additional 1,696,681 shares during the period. Franklin Resources Inc. raised its stake in Time Warner by 0.4% during the second quarter. Franklin Resources Inc. now owns 12,344,260 shares of the media conglomerate’s stock worth $1,239,484,000 after purchasing an additional 51,596 shares during the period. Farallon Capital Management LLC raised its stake in Time Warner by 37.3% during the second quarter. Farallon Capital Management LLC now owns 6,980,000 shares of the media conglomerate’s stock worth $700,862,000 after purchasing an additional 1,895,000 shares during the period. Finally, Independent Franchise Partners LLP raised its stake in Time Warner by 2.8% during the third quarter. Independent Franchise Partners LLP now owns 6,765,645 shares of the media conglomerate’s stock worth $693,140,000 after purchasing an additional 186,323 shares during the period. Institutional investors and hedge funds own 78.11% of the company’s stock.
Shares of Time Warner Inc (TWX) traded down $0.70 during mid-day trading on Thursday, hitting $90.38. 4,704,100 shares of the company were exchanged, compared to its average volume of 4,754,382. The company has a quick ratio of 1.26, a current ratio of 1.48 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $70,914.25, a PE ratio of 15.03, a P/E/G ratio of 1.43 and a beta of 0.95. Time Warner Inc has a 52-week low of $85.88 and a 52-week high of $103.90.
A number of equities analysts have commented on the stock. BMO Capital Markets reaffirmed a “hold” rating and set a $108.00 target price on shares of Time Warner in a research note on Wednesday, September 13th. KeyCorp reissued a “hold” rating on shares of Time Warner in a research note on Tuesday, October 17th. FBR & Co downgraded shares of Time Warner from a “buy” rating to a “neutral” rating and boosted their price target for the company from $105.00 to $107.50 in a research note on Monday, October 16th. Wells Fargo & Company reissued a “market perform” rating and issued a $84.00 price target (down from $100.00) on shares of Time Warner in a research note on Tuesday, November 21st. Finally, Cowen reissued a “hold” rating and issued a $107.50 price target on shares of Time Warner in a research note on Thursday, October 12th. Twenty-three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Time Warner presently has a consensus rating of “Hold” and a consensus target price of $103.00.
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Time Warner 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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