HPM Partners LLC cut its stake in shares of Time Warner Inc (NYSE:TWX) by 9.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,671 shares of the media conglomerate’s stock after selling 2,610 shares during the quarter. HPM Partners LLC’s holdings in Time Warner were worth $2,257,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Stone Ridge Asset Management LLC bought a new position in Time Warner during the fourth quarter worth $322,000. Viking Global Investors LP bought a new position in Time Warner during the fourth quarter worth $420,390,000. Bronson Point Management LLC bought a new position in Time Warner during the fourth quarter worth $13,721,000. Proxima Capital Management LLC bought a new position in Time Warner during the fourth quarter worth $9,879,000. Finally, Kemnay Advisory Services Inc. bought a new position in Time Warner during the fourth quarter worth $5,074,000. 80.89% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director William P. Barr sold 4,019 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $97.20, for a total transaction of $390,646.80. Following the completion of the sale, the director now owns 44,959 shares in the company, valued at $4,370,014.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Olaf Olafsson sold 23,450 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $90.03, for a total transaction of $2,111,203.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,488 shares of company stock valued at $2,878,069. 0.16% of the stock is currently owned by corporate insiders.
Time Warner (NYSE:TWX) last announced its earnings results on Thursday, February 1st. The media conglomerate reported $1.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.16. The company had revenue of $8.61 billion during the quarter, compared to the consensus estimate of $8.41 billion. Time Warner had a net margin of 16.78% and a return on equity of 18.96%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 earnings per share. sell-side analysts expect that Time Warner Inc will post 7.67 EPS for the current year.
Several research analysts have weighed in on TWX shares. ValuEngine downgraded shares of Time Warner from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded shares of Time Warner from a “sell” rating to a “hold” rating in a report on Saturday, January 6th. B. Riley restated a “hold” rating and set a $101.00 price objective on shares of Time Warner in a report on Tuesday, November 21st. Pivotal Research restated a “buy” rating and set a $108.00 price objective (up previously from $103.00) on shares of Time Warner in a report on Tuesday, January 9th. Finally, upgraded shares of Time Warner from a “hold” rating to a “buy” rating and upped their price objective for the stock from $102.00 to $103.00 in a report on Wednesday, November 15th. Fifteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $104.15.
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Time Warner Company 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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