MRJ Capital Inc. trimmed its position in shares of Time Warner Inc. (NYSE:TWX) by 5.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,100 shares of the media conglomerate’s stock after selling 1,900 shares during the quarter. Time Warner accounts for approximately 1.9% of MRJ Capital Inc.’s investment portfolio, making the stock its 28th biggest position. MRJ Capital Inc.’s holdings in Time Warner were worth $3,223,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Atlantic Trust Group LLC boosted its holdings in Time Warner by 3.1% during the 2nd quarter. Atlantic Trust Group LLC now owns 16,040 shares of the media conglomerate’s stock valued at $1,610,000 after acquiring an additional 477 shares during the period. P Schoenfeld Asset Management LP boosted its holdings in Time Warner by 152.3% during the 2nd quarter. P Schoenfeld Asset Management LP now owns 1,248,077 shares of the media conglomerate’s stock valued at $125,319,000 after acquiring an additional 753,383 shares during the period. Fragasso Group Inc. boosted its holdings in Time Warner by 3.3% during the 2nd quarter. Fragasso Group Inc. now owns 12,820 shares of the media conglomerate’s stock valued at $1,287,000 after acquiring an additional 410 shares during the period. Synovus Financial Corp boosted its holdings in Time Warner by 2.4% during the 2nd quarter. Synovus Financial Corp now owns 11,298 shares of the media conglomerate’s stock valued at $1,131,000 after acquiring an additional 268 shares during the period. Finally, Intact Investment Management Inc. purchased a new position in Time Warner during the 2nd quarter valued at about $321,000. Institutional investors own 79.16% of the company’s stock.
Time Warner Inc. (NYSE TWX) opened at 102.78 on Wednesday. Time Warner Inc. has a 52-week low of $74.68 and a 52-week high of $103.34. The firm’s 50-day moving average price is $101.65 and its 200 day moving average price is $99.76. The firm has a market cap of $79.94 billion, a price-to-earnings ratio of 19.07 and a beta of 1.04.
Time Warner (NYSE:TWX) last announced its quarterly earnings data on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.14. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The firm had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter in the prior year, the firm posted $1.29 earnings per share. Time Warner’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts forecast that Time Warner Inc. will post $6.10 EPS for the current year.
A number of equities analysts recently commented on TWX shares. Morgan Stanley restated an “overweight” rating on shares of Time Warner in a report on Thursday, July 6th. Credit Suisse Group cut Time Warner from an “outperform” rating to a “neutral” rating and set a $107.50 target price for the company. in a report on Monday. Sanford C. Bernstein restated a “market perform” rating on shares of Time Warner in a report on Tuesday, September 12th. Jefferies Group LLC restated a “hold” rating and set a $105.00 target price on shares of Time Warner in a report on Sunday, September 10th. Finally, Zacks Investment Research cut Time Warner from a “buy” rating to a “hold” rating in a report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $102.91.
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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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