Traders Buy Shares of Time Warner Inc. (TWX) on Weakness
Investors purchased shares of Time Warner Inc. (NYSE:TWX) on weakness during trading hours on Friday. $90.73 million flowed into the stock on the tick-up and $36.59 million flowed out of the stock on the tick-down, for a money net flow of $54.14 million into the stock. Of all stocks tracked, Time Warner had the 19th highest net in-flow for the day. Time Warner traded down ($0.97) for the day and closed at $76.65
A number of brokerages have recently issued reports on TWX. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Time Warner in a report on Friday, June 17th. Drexel Hamilton reissued a “buy” rating on shares of Time Warner in a report on Thursday, April 14th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Time Warner in a report on Wednesday, July 6th. Royal Bank Of Canada assumed coverage on shares of Time Warner in a report on Thursday, April 7th. They issued an “outperform” rating and a $92.00 price target on the stock. Finally, Guggenheim reissued a “buy” rating and issued a $86.00 price target on shares of Time Warner in a report on Friday, May 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $85.10.
The stock has a market cap of $60.28 billion and a price-to-earnings ratio of 15.38. The firm has a 50 day moving average price of $75.17 and a 200-day moving average price of $72.46.
Time Warner (NYSE:TWX) last announced its quarterly earnings results on Wednesday, May 4th. The media conglomerate reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.19. The company had revenue of $7.30 billion for the quarter, compared to analysts’ expectations of $7.33 billion. The business’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.19 EPS. On average, equities research analysts forecast that Time Warner Inc. will post $5.39 earnings per share for the current fiscal year.
In related news, Director Stephen F. Bollenbach sold 8,038 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $74.23, for a total value of $596,660.74. Following the transaction, the director now owns 31,297 shares of the company’s stock, valued at $2,323,176.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 in the company, valued at approximately $1,684,963.28. The disclosure for this sale can be found here.
Several institutional investors have bought and sold shares of the company. Bank of Montreal Can increased 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 worth $114,010,000 after buying an additional 1,397,687 shares during the last quarter. Philadelphia Trust Co. increased its position in Time Warner by 8.4% in the fourth quarter. Philadelphia Trust Co. now owns 200,744 shares of the media conglomerate’s stock worth $13,190,000 after buying an additional 15,565 shares during the last quarter. Deimos Asset Management LLC acquired a new position in Time Warner during the fourth quarter worth about $1,293,000. Twin Capital Management Inc. increased its position in Time Warner by 10.8% in the fourth quarter. Twin Capital Management Inc. now owns 79,570 shares of the media conglomerate’s stock worth $5,146,000 after buying an additional 7,760 shares during the last quarter. Finally, Amica Pension Fund Board of Trustees increased its position in Time Warner by 29.2% in the fourth quarter. Amica Pension Fund Board of Trustees now owns 44,126 shares of the media conglomerate’s stock worth $2,854,000 after buying an additional 9,962 shares during 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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