Engineers Gate Manager LP bought a new stake in shares of Time Inc (NYSE:TIME) during the fourth quarter, Holdings Channel reports. The institutional investor bought 29,251 shares of the company’s stock, valued at approximately $540,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Voya Investment Management LLC lifted its stake in shares of Time by 7.3% during the 2nd quarter. Voya Investment Management LLC now owns 48,135 shares of the company’s stock valued at $691,000 after buying an additional 3,289 shares in the last quarter. Shell Asset Management Co. purchased a new stake in Time in the 3rd quarter worth $104,000. Flinton Capital Management LLC lifted its stake in Time by 84.9% in the 2nd quarter. Flinton Capital Management LLC now owns 10,438 shares of the company’s stock worth $150,000 after purchasing an additional 4,794 shares in the last quarter. First Trust Advisors LP lifted its stake in Time by 48.2% in the 3rd quarter. First Trust Advisors LP now owns 16,045 shares of the company’s stock worth $217,000 after purchasing an additional 5,217 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in Time by 40.9% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 24,470 shares of the company’s stock worth $351,000 after purchasing an additional 7,100 shares in the last quarter. Institutional investors own 89.28% of the company’s stock.

Shares of Time Inc (NYSE:TIME) opened at $18.50 on Wednesday. The company has a market cap of $1,840.00, a price-to-earnings ratio of -925.00, a price-to-earnings-growth ratio of 2.73 and a beta of 1.06. Time Inc has a one year low of $9.90 and a one year high of $19.70. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.88.

Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Time from a “hold” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a research note on Friday, January 5th. Citigroup cut shares of Time from a “buy” rating to a “neutral” rating in a research note on Monday, December 4th. Gabelli cut shares of Time from a “buy” rating to a “sell” rating and set a $20.00 price target on the stock. in a research note on Tuesday, November 28th. Evercore ISI assumed coverage on shares of Time in a research note on Friday, November 17th. They issued an “outperform” rating and a $7.00 price target on the stock. Finally, ValuEngine upgraded shares of Time from a “hold” rating to a “buy” rating in a research note on Thursday, November 16th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Time currently has an average rating of “Hold” and an average target price of $15.17.

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Time Company Profile

Time Inc is a media and content company. The Company offers a portfolio of news and lifestyle brands across a range of interest areas. The Company’s brands included People, Time, Fortune, Sports Illustrated, InStyle, Real Simple, Southern Living, Entertainment Weekly, Food & Wine, and Travel + Leisure, as well as approximately 50 titles in the United Kingdom.

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Institutional Ownership by Quarter for Time (NYSE:TIME)

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