Penserra Capital Management LLC grew its stake in Time Warner Inc. (NYSE:TWX) by 13.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,872 shares of the media conglomerate’s stock after purchasing an additional 216 shares during the period. Penserra Capital Management LLC’s holdings in Time Warner were worth $187,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Bellwether Investment Group LLC grew its holdings in Time Warner by 15.6% during the first quarter. Bellwether Investment Group LLC now owns 1,083 shares of the media conglomerate’s stock worth $106,000 after acquiring an additional 146 shares during the period. Patriot Financial Group Insurance Agency LLC grew its holdings in Time Warner by 9.9% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,109 shares of the media conglomerate’s stock worth $109,000 after acquiring an additional 100 shares during the period. Advisory Services Network LLC acquired a new position in Time Warner during the first quarter worth $138,000. Archford Capital Strategies LLC grew its holdings in Time Warner by 43.5% during the first quarter. Archford Capital Strategies LLC now owns 1,587 shares of the media conglomerate’s stock worth $155,000 after acquiring an additional 481 shares during the period. Finally, City Holding Co. grew its holdings in Time Warner by 7.7% during the second quarter. City Holding Co. now owns 1,715 shares of the media conglomerate’s stock worth $172,000 after acquiring an additional 123 shares during the period. 79.29% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on TWX. Jefferies Group LLC reaffirmed a “hold” rating and set a $105.00 price objective (up previously from $102.42) on shares of Time Warner in a report on Sunday, July 30th. Cowen and Company reaffirmed a “hold” rating and set a $107.50 price objective on shares of Time Warner in a report on Thursday, August 3rd. Evercore ISI downgraded Time Warner from an “outperform” rating to an “in-line” rating and set a $108.00 target price on the stock. in a research report on Monday, August 7th. Zacks Investment Research downgraded Time Warner from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, BidaskClub upgraded Time Warner from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. One research 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. The stock currently has an average rating of “Hold” and an average target price of $102.25.
In other Time Warner news, CFO Howard M. Averill bought 255 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was acquired at an average price of $99.67 per share, with a total value of $25,415.85. Following the completion of the transaction, the chief financial officer now directly owns 63,399 shares in the company, valued at approximately $6,318,978.33. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.16% of the company’s stock.
Shares of Time Warner Inc. (TWX) opened at 100.57 on Tuesday. Time Warner Inc. has a 52 week low of $74.27 and a 52 week high of $103.34. The firm’s 50-day moving average price is $101.68 and its 200 day moving average price is $99.61. The firm has a market capitalization of $78.22 billion, a price-to-earnings ratio of 18.66 and a beta of 1.04.
Time Warner (NYSE:TWX) last issued its earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.14. The business had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $7.29 billion. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. Time Warner’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 earnings per share. On average, analysts anticipate that Time Warner Inc. will post $6.10 EPS for the current year.
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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