Huntington National Bank Reduces Stake in Time Warner Inc. (TWX)
Huntington National Bank reduced its stake in shares of Time Warner Inc. (NYSE:TWX) by 33.4% during the second quarter, Holdings Channel reports. The fund owned 13,412 shares of the media conglomerate’s stock after selling 6,737 shares during the period. Huntington National Bank’s holdings in Time Warner were worth $986,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. City Holding Co. increased its stake in shares of Time Warner by 2.3% in the second quarter. City Holding Co. now owns 1,592 shares of the media conglomerate’s stock valued at $117,000 after buying an additional 36 shares in the last quarter. NEXT Financial Group Inc increased its stake in shares of Time Warner by 59.9% in the second quarter. NEXT Financial Group Inc now owns 2,125 shares of the media conglomerate’s stock valued at $156,000 after buying an additional 796 shares in the last quarter. Alpha Windward LLC increased its stake in shares of Time Warner by 31.7% in the second quarter. Alpha Windward LLC now owns 2,591 shares of the media conglomerate’s stock valued at $191,000 after buying an additional 624 shares in the last quarter. Stock Yards Bank & Trust Co. bought a new stake in shares of Time Warner during the second quarter valued at $208,000. Finally, JFS Wealth Advisors LLC increased its stake in shares of Time Warner by 952.4% in the second quarter. JFS Wealth Advisors LLC now owns 2,873 shares of the media conglomerate’s stock valued at $211,000 after buying an additional 2,600 shares in the last quarter. 80.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Time Warner Inc. (NYSE:TWX) traded down 0.89% during midday trading on Monday, reaching $78.84. 3,519,183 shares of the company were exchanged. The stock’s 50-day moving average price is $78.07 and its 200-day moving average price is $76.30. Time Warner Inc. has a 52-week low of $55.53 and a 52-week high of $81.33. The company has a market capitalization of $61.33 billion, a PE ratio of 15.69 and a beta of 1.21.
Time Warner (NYSE:TWX) last posted its quarterly earnings results on Wednesday, August 3rd. The media conglomerate reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.13. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $7.12 billion. Time Warner had a net margin of 14.54% and a return on equity of 17.33%. Time Warner’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 earnings per share. Analysts anticipate that Time Warner Inc. will post $5.42 EPS for the current year.
Several equities research analysts have weighed in on TWX shares. Brean Capital reaffirmed a “buy” rating and set a $90.00 price target on shares of Time Warner in a research report on Friday, August 5th. Albert Fried & Company restated an “outperform” rating and set a $90.00 target price on shares of Time Warner in a research report on Thursday, September 29th. Jefferies Group restated a “buy” rating on shares of Time Warner in a research report on Monday, September 12th. Vetr upgraded Time Warner from a “buy” rating to a “strong-buy” rating and set a $83.96 target price on the stock in a research report on Monday, September 19th. Finally, Wedbush raised their target price on Time Warner from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Time Warner has an average rating of “Buy” and an average price target of $86.11.
In other news, EVP Paul T. Cappuccio sold 56,595 shares of the stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $78.24, for a total value of $4,427,992.80. Following the completion of the sale, the executive vice president now owns 157,877 shares of the company’s stock, valued at $12,352,296.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Karen Magee sold 14,240 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $79.97, for a total transaction of $1,138,772.80. Following the completion of the sale, the insider now directly owns 7,461 shares of the company’s stock, valued at approximately $596,656.17. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.
About Time Warner
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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