Tudor Investment Corp ET AL boosted its stake in Time Inc. (NYSE:TIME) by 34.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,972 shares of the company’s stock after buying an additional 18,186 shares during the period. Tudor Investment Corp ET AL owned 0.07% of Time worth $1,373,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC raised its stake in shares of Time by 22.0% in the fourth quarter. AQR Capital Management LLC now owns 490,622 shares of the company’s stock valued at $8,758,000 after buying an additional 88,372 shares in the last quarter. Guggenheim Capital LLC raised its stake in shares of Time by 164.6% in the fourth quarter. Guggenheim Capital LLC now owns 427,451 shares of the company’s stock valued at $7,631,000 after buying an additional 265,909 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Time during the fourth quarter valued at about $7,773,000. A.R.T. Advisors LLC purchased a new stake in shares of Time during the fourth quarter valued at about $1,652,000. Finally, Flinton Capital Management LLC purchased a new stake in shares of Time during the fourth quarter valued at about $115,000. Institutional investors and hedge funds own 91.93% of the company’s stock.
Time Inc. (NYSE:TIME) traded up 2.022% during trading on Monday, reaching $13.875. The company’s stock had a trading volume of 82,530 shares. Time Inc. has a 52 week low of $11.65 and a 52 week high of $20.40. The company’s market cap is $1.38 billion. The company’s 50 day moving average price is $13.28 and its 200 day moving average price is $17.18.
Time (NYSE:TIME) last announced its earnings results on Wednesday, May 10th. The company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by $0.03. The company had revenue of $636 million during the quarter, compared to analyst estimates of $641.85 million. Time had a positive return on equity of 7.30% and a negative net margin of 2.18%. Time’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.11) earnings per share. On average, equities analysts anticipate that Time Inc. will post $1.18 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Friday, May 26th. Time’s payout ratio is presently -23.53%.
Several analysts recently issued reports on the company. Stephens upgraded Time from an “underweight” rating to an “equal weight” rating in a report on Monday, March 20th. Zacks Investment Research upgraded Time from a “sell” rating to a “hold” rating in a report on Wednesday, April 26th. Wells Fargo & Company lowered Time from an “outperform” rating to a “market perform” rating in a report on Friday, April 28th. Macquarie lowered Time from an “outperform” rating to a “neutral” rating and set a $15.00 price objective for the company. in a report on Thursday, June 15th. Finally, BidaskClub upgraded Time from a “strong sell” rating to a “sell” rating in a report on Friday, June 9th. One research 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. Time has an average rating of “Hold” and a consensus target price of $15.33.
In other Time news, Director Dennis J. Fitzsimons purchased 3,000 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were purchased at an average cost of $11.99 per share, with a total value of $35,970.00. Following the transaction, the director now directly owns 30,674 shares of the company’s stock, valued at approximately $367,781.26. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ronald S. Rolfe purchased 2,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were acquired at an average cost of $12.85 per share, for a total transaction of $25,700.00. Following the completion of the transaction, the director now directly owns 32,147 shares in the company, valued at $413,088.95. The disclosure for this purchase can be found here. Insiders have acquired a total of 6,000 shares of company stock worth $74,600 over the last three months. Insiders own 1.92% of the company’s stock.
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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