Traders Sell Time Warner Inc. (TWX) on Strength (TWX)
Investors sold shares of Time Warner Inc. (NYSE:TWX) on strength during trading on Friday. $28.91 million flowed into the stock on the tick-up and $48.50 million flowed out of the stock on the tick-down, for a money net flow of $19.59 million out of the stock. Of all companies tracked, Time Warner had the 20th highest net out-flow for the day. Time Warner traded up $0.62 for the day and closed at $78.36
TWX has been the subject of a number of research reports. KeyCorp downgraded shares of Time Warner to an “overweight” rating in a report on Monday, May 2nd. They noted that the move was a valuation call. Pacific Crest reaffirmed a “hold” rating on shares of Time Warner in a report on Sunday, May 22nd. Bank of America Corp. reaffirmed a “hold” rating on shares of Time Warner in a report on Tuesday, July 12th. Drexel Hamilton reaffirmed a “buy” rating on shares of Time Warner in a report on Thursday, April 14th. Finally, Vetr raised shares of Time Warner from a “buy” rating to a “strong-buy” rating and set a $82.87 price objective for the company in a report on Tuesday, May 3rd. Ten research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Time Warner has an average rating of “Buy” and an average price target of $84.69.
The firm’s 50-day moving average is $74.85 and its 200-day moving average is $72.14. The firm has a market cap of $61.62 billion and a P/E ratio of 15.72.
Time Warner (NYSE:TWX) last announced its earnings results on Wednesday, May 4th. The media conglomerate reported $1.49 EPS for the quarter, topping the consensus estimate of $1.30 by $0.19. The business had revenue of $7.30 billion for the quarter, compared to the consensus estimate of $7.33 billion. Time Warner’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.19 EPS. Equities analysts forecast that Time Warner Inc. will post $5.39 earnings per share for the current year.
In other news, Director Stephen F. Bollenbach sold 8,038 shares of the stock in a transaction on Monday, May 9th. The stock was sold at an average price of $74.23, for a total transaction of $596,660.74. Following the sale, the director now owns 31,297 shares in the company, valued at $2,323,176.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey L. Bewkes sold 272,710 shares of the stock in a transaction on Monday, May 9th. The stock was sold at an average price of $74.26, for a total value of $20,251,444.60. Following the sale, the chief executive officer now owns 354,823 shares in the company, valued at approximately $26,349,155.98. The disclosure for this sale can be found here.
Other hedge funds have made changes to their positions in the company. Brown Advisory Inc. boosted its stake in shares of Time Warner by 1.3% in the fourth quarter. Brown Advisory Inc. now owns 48,135 shares of the media conglomerate’s stock valued at $3,113,000 after buying an additional 598 shares during the last quarter. Vanguard Group Inc. boosted its position in Time Warner by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 44,309,079 shares of the media conglomerate’s stock valued at $2,865,468,000 after buying an additional 151,957 shares in the last quarter. Bank of Montreal Can boosted its position in Time Warner by 382.6% in the fourth quarter. Bank of Montreal Can now owns 1,762,973 shares of the media conglomerate’s stock valued at $114,010,000 after buying an additional 1,397,687 shares in the last quarter. Vaughan David Investments Inc. IL boosted its position in Time Warner by 2.3% in the fourth quarter. Vaughan David Investments Inc. IL now owns 260,002 shares of the media conglomerate’s stock valued at $16,814,000 after buying an additional 5,805 shares in the last quarter. Finally, BOKF NA boosted its position in Time Warner by 14.0% in the fourth quarter. BOKF NA now owns 63,876 shares of the media conglomerate’s stock valued at $4,131,000 after buying an additional 7,836 shares in the last quarter.
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 domestic premium pay television and streaming services, and international premium pay, basic tier television services and streaming services, and Warner Bros., which consists of television, feature film, home video and videogame production and distribution.
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