Russell Investments Group Ltd. Has $3.88 Million Position in Time Inc (TIME)

Russell Investments Group Ltd. lowered its position in shares of Time Inc (NYSE:TIME) by 14.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 200,358 shares of the company’s stock after selling 34,094 shares during the period. Russell Investments Group Ltd. owned about 0.20% of Time worth $3,876,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TIME. Pacad Investment Ltd. raised its position in Time by 42.5% in the fourth quarter. Pacad Investment Ltd. now owns 5,700 shares of the company’s stock worth $102,000 after buying an additional 1,700 shares during the period. First Manhattan Co. increased its position in shares of Time by 1.6% in the first quarter. First Manhattan Co. now owns 7,488 shares of the company’s stock valued at $108,000 after buying an additional 118 shares during the period. Flinton Capital Management LLC purchased a new position in shares of Time during the fourth quarter valued at approximately $115,000. Teza Capital Management LLC purchased a new position in shares of Time during the fourth quarter valued at approximately $258,000. Finally, Moloney Securities Asset Management LLC purchased a new position in shares of Time during the fourth quarter valued at approximately $279,000. Hedge funds and other institutional investors own 91.93% of the company’s stock.

Institutional Ownership by Quarter for Time (NYSE:TIME)

Shares of Time Inc (NYSE:TIME) opened at 13.80 on Wednesday. The stock’s 50 day moving average is $13.28 and its 200-day moving average is $17.18. Time Inc has a 12-month low of $11.65 and a 12-month high of $20.40. The stock’s market cap is $1.37 billion.

Time (NYSE:TIME) last issued its earnings results on Wednesday, May 10th. The company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.03. The firm had revenue of $636 million during the quarter, compared to analyst estimates of $641.85 million. Time had a negative net margin of 4.40% and a negative return on equity of 7.91%. The firm’s revenue was down 7.8% compared to the same quarter last year. During the same period last year, the business earned ($0.11) EPS. Equities analysts expect that Time Inc will post $1.18 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st were paid a $0.04 dividend. The ex-dividend date was Friday, May 26th. This represents a $0.16 annualized dividend and a yield of 1.16%. Time’s dividend payout ratio is currently -23.53%.

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TIME has been the topic of several research analyst reports. Stephens upgraded shares of Time from an “underweight” rating to an “equal weight” rating in a research report on Monday, March 20th. Zacks Investment Research upgraded shares of Time from a “sell” rating to a “hold” rating in a research report on Wednesday, April 26th. ValuEngine cut shares of Time from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Wells Fargo & Co cut shares of Time from an “outperform” rating to a “market perform” rating in a report on Friday, April 28th. Finally, Macquarie cut shares of Time from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a report on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $15.33.

In related news, Director Ronald S. Rolfe purchased 2,000 shares of the company’s stock in a transaction on Monday, May 15th. The shares were bought at an average cost of $12.85 per share, for a total transaction of $25,700.00. Following the completion of the purchase, the director now directly owns 32,147 shares of the company’s stock, valued at approximately $413,088.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dennis J. Fitzsimons bought 3,000 shares of the stock in a transaction dated Thursday, May 18th. The shares were acquired at an average price of $11.99 per share, for a total transaction of $35,970.00. Following the completion of the transaction, the director now owns 30,674 shares of the company’s stock, valued at approximately $367,781.26. The disclosure for this purchase can be found here. Insiders acquired 6,000 shares of company stock worth $74,600 over the last quarter. 1.92% of the stock is currently owned by insiders.

About Time

Time Inc is a media and content company. The Company offers a portfolio of news and lifestyle brands across a range of interest areas. As of December 31, 2016, the Company’s brands included People, Time, Fortune, Sports Illustrated, InStyle, Real Simple, Southern Living, Entertainment Weekly, Food & Wine, Travel + Leisure and Essence, as well as approximately 50 titles in the United Kingdom.

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