Traders Sell Time Warner Inc. (TWX) on Strength (TWX)
Traders sold shares of Time Warner Inc. (NYSE:TWX) on strength during trading hours 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 stocks tracked, Time Warner had the 0th highest net out-flow for the day. Time Warner traded up $0.62 for the day and closed at $78.36
A number of equities analysts have issued reports on the company. KeyCorp cut Time Warner to an “overweight” rating in a report on Monday, May 2nd. They noted that the move was a valuation call. Pacific Crest reiterated a “hold” rating on shares of Time Warner in a report on Sunday, May 22nd. Bank of America Corp. reiterated a “hold” rating on shares of Time Warner in a report on Tuesday, July 12th. Drexel Hamilton reiterated a “buy” rating on shares of Time Warner in a report on Thursday, April 14th. Finally, Vetr upgraded Time Warner from a “buy” rating to a “strong-buy” rating and set a $82.87 target price for the company in a report on Tuesday, May 3rd. Ten analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. Time Warner has an average rating of “Buy” and an average target price of $84.69.
The company has a market cap of $61.62 billion and a PE ratio of 15.72. The firm has a 50 day moving average price of $74.85 and a 200-day moving average price of $72.14.
Time Warner (NYSE:TWX) last released its earnings results on Wednesday, May 4th. The media conglomerate reported $1.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.19. The company had revenue of $7.30 billion for the quarter, compared to the consensus estimate of $7.33 billion. During the same period in the prior year, the company earned $1.19 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. Equities analysts expect that Time Warner Inc. will post $5.39 EPS for the current year.
In other news, CEO Jeffrey L. Bewkes sold 272,710 shares of the stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $74.26, for a total transaction of $20,251,444.60. Following the completion of the transaction, the chief executive officer now directly owns 354,823 shares of the company’s stock, valued at approximately $26,349,155.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gary L. Ginsberg sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $75.79, for a total transaction of $227,370.00. Following the completion of the transaction, the executive vice president now directly owns 22,232 shares of the company’s stock, valued at $1,684,963.28. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have added to or reduced their stakes in the company. Nicholas Co. Inc. WI increased its position in Time Warner by 3.3% in the fourth quarter. Nicholas Co. Inc. WI now owns 1,763,070 shares of the media conglomerate’s stock valued at $114,017,000 after buying an additional 55,760 shares during the period. Airain ltd increased its position in Time Warner by 163.8% in the fourth quarter. Airain ltd now owns 238,108 shares of the media conglomerate’s stock valued at $15,398,000 after buying an additional 147,847 shares during the period. KBC Group NV increased its position in Time Warner by 11.2% in the fourth quarter. KBC Group NV now owns 242,467 shares of the media conglomerate’s stock valued at $15,680,000 after buying an additional 24,415 shares during the period. Morningstar Investment Services LLC increased its position in Time Warner by 37.7% in the fourth quarter. Morningstar Investment Services LLC now owns 307,285 shares of the media conglomerate’s stock valued at $19,872,000 after buying an additional 84,156 shares during the period. Finally, Buckingham Capital Management Inc. increased its position in Time Warner by 4.9% in the third quarter. Buckingham Capital Management Inc. now owns 26,511 shares of the media conglomerate’s stock valued at $1,823,000 after buying an additional 1,248 shares during the period.
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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