Traders Sell Shares of Time Warner Inc. (TWX) on Strength (TWX)
Investors sold shares of Time Warner Inc. (NYSE:TWX) on strength during trading hours on Wednesday. $116.75 million flowed into the stock on the tick-up and $140.67 million flowed out of the stock on the tick-down, for a money net flow of $23.92 million out of the stock. Of all companies tracked, Time Warner had the 0th highest net out-flow for the day. Time Warner traded up $2.05 for the day and closed at $77.83
A number of brokerages have weighed in on TWX. KeyCorp cut 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 reissued a “hold” rating on shares of Time Warner in a report on Sunday, May 22nd. Albert Fried & Company reissued a “buy” rating and set a $90.00 target price on shares of Time Warner in a report on Wednesday. Royal Bank Of Canada upped their price target on shares of Time Warner from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Bank of America Corp. restated a “hold” rating on shares of Time Warner in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-five have issued a buy rating to the company. Time Warner currently has a consensus rating of “Buy” and an average target price of $85.19.
The stock has a 50 day moving average of $75.48 and a 200 day moving average of $72.61. The company has a market cap of $61.21 billion and a price-to-earnings ratio of 15.62.
Time Warner (NYSE:TWX) last issued its quarterly earnings data on Wednesday, August 3rd. The media conglomerate reported $1.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.11. During the same quarter in the prior year, the firm posted $1.25 earnings per share. The business earned $7 billion during the quarter, compared to analyst estimates of $7.12 billion. Time Warner’s revenue for the quarter was down 5.4% compared to the same quarter last year. Analysts expect that Time Warner Inc. will post $5.39 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be paid a $0.4025 dividend. This represents a $1.61 annualized dividend and a yield of 2.07%.
In other Time Warner news, Director Kenneth J. Novack sold 8,400 shares of the business’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $74.61, for a total value of $626,724.00. Following the sale, the director now owns 9,031 shares in the company, valued at approximately $673,802.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen F. Bollenbach sold 8,038 shares of the business’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 completion of the sale, the director now owns 31,297 shares in the company, valued at approximately $2,323,176.31. The disclosure for this sale can be found here.
A number of large investors have recently added to or reduced their stakes in TWX. Bank of Montreal Can boosted its stake 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 during the last quarter. Janus Capital Management boosted its stake in Time Warner by 16.0% in the third quarter. Janus Capital Management now owns 2,380,816 shares of the media conglomerate’s stock valued at $163,681,000 after buying an additional 327,877 shares during the last quarter. I.G. Investment Management LTD. boosted its stake in Time Warner by 164.5% in the fourth quarter. I.G. Investment Management LTD. now owns 447,433 shares of the media conglomerate’s stock valued at $28,935,000 after buying an additional 278,252 shares during the last quarter. Airain ltd boosted its stake 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 last quarter. Finally, Levin Capital Strategies L.P. boosted its stake in Time Warner by 322.7% in the fourth quarter. Levin Capital Strategies L.P. now owns 188,384 shares of the media conglomerate’s stock valued at $12,183,000 after buying an additional 143,815 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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