Investors Buy Shares of Time Warner Inc. (TWX) on Weakness
Investors purchased shares of Time Warner Inc. (NYSE:TWX) on weakness during trading hours on Thursday. $43.43 million flowed into the stock on the tick-up and $28.43 million flowed out of the stock on the tick-down, for a money net flow of $15.00 million into the stock. Of all companies tracked, Time Warner had the 25th highest net in-flow for the day. Time Warner traded down ($0.31) for the day and closed at $77.62
Several equities research analysts recently commented on the stock. Sanford C. Bernstein restated a “market perform” rating on shares of Time Warner in a research report on Friday, June 17th. Drexel Hamilton restated a “buy” rating on shares of Time Warner in a research report on Thursday, April 14th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Time Warner in a research report on Wednesday, July 6th. Royal Bank Of Canada started coverage on shares of Time Warner in a research report on Thursday, April 7th. They issued an “outperform” rating and a $92.00 price target for the company. Finally, Guggenheim reiterated a “buy” rating and issued a $86.00 target price on shares of Time Warner in a research report on Friday, May 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. Time Warner has an average rating of “Buy” and a consensus price target of $85.10.
The firm has a market capitalization of $60.28 billion and a P/E ratio of 15.38. The company has a 50 day moving average of $75.17 and a 200 day moving average of $72.46.
Time Warner (NYSE:TWX) last released its quarterly earnings results on Wednesday, May 4th. The media conglomerate reported $1.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.19. The business earned $7.30 billion during the quarter, compared to analyst estimates of $7.33 billion. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company posted $1.19 earnings per share. On average, equities analysts expect that Time Warner Inc. will post $5.39 earnings per share for the current year.
In related news, Director Stephen F. Bollenbach sold 8,038 shares of the company’s stock in a transaction dated 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 directly owns 31,297 shares in the company, valued at $2,323,176.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth J. Novack sold 8,400 shares of the company’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $74.61, for a total transaction of $626,724.00. Following the completion of the transaction, the director now owns 9,031 shares in the company, valued at $673,802.91. The disclosure for this sale can be found here.
Several institutional investors have added to or reduced their stakes in TWX. Brighton Jones LLC increased its position in Time Warner by 1.5% in the fourth quarter. Brighton Jones LLC now owns 15,840 shares of the media conglomerate’s stock valued at $1,024,000 after buying an additional 237 shares during the period. Cowen Group Inc. purchased a new stake in shares of Time Warner during the fourth quarter worth about $1,122,000. Deimos Asset Management LLC purchased a new stake in shares of Time Warner during the fourth quarter worth about $1,293,000. Victory Capital Management Inc. increased its stake in shares of Time Warner by 109.6% in the fourth quarter. Victory Capital Management Inc. now owns 21,057 shares of the media conglomerate’s stock worth $1,362,000 after buying an additional 11,011 shares during the last quarter. Finally, Suntrust Banks Inc. increased its stake in shares of Time Warner by 78.4% in the fourth quarter. Suntrust Banks Inc. now owns 24,734 shares of the media conglomerate’s stock worth $1,598,000 after buying an additional 10,871 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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