Time Warner Inc. (TWX) Position Cut by Mirae Asset Global Investments Co. Ltd.
Mirae Asset Global Investments Co. Ltd. cut its position in Time Warner Inc. (NYSE:TWX) by 13.9% during the first quarter, Holdings Channel reports. The fund owned 24,828 shares of the media conglomerate’s stock after selling 4,017 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Time Warner were worth $2,427,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. Archford Capital Strategies LLC bought a new position in Time Warner during the fourth quarter valued at about $106,000. Patriot Financial Group Insurance Agency LLC boosted its position in Time Warner by 9.9% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,109 shares of the media conglomerate’s stock valued at $109,000 after buying an additional 100 shares during the period. Carroll Financial Associates Inc. boosted its position in Time Warner by 2.7% in the first quarter. Carroll Financial Associates Inc. now owns 1,249 shares of the media conglomerate’s stock valued at $122,000 after buying an additional 33 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in Time Warner during the fourth quarter valued at $126,000. Finally, Thompson Siegel & Walmsley LLC boosted its position in Time Warner by 0.5% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,415 shares of the media conglomerate’s stock valued at $137,000 after buying an additional 7 shares during the period. Hedge funds and other institutional investors own 80.99% of the company’s stock.
Shares of Time Warner Inc. (NYSE:TWX) opened at 99.90 on Tuesday. The company’s 50-day moving average price is $98.80 and its 200 day moving average price is $97.41. Time Warner Inc. has a 1-year low of $68.97 and a 1-year high of $100.60. The firm has a market cap of $77.36 billion, a PE ratio of 20.16 and a beta of 1.09.
Time Warner (NYSE:TWX) last released its quarterly earnings results on Wednesday, May 3rd. The media conglomerate reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.22. The business had revenue of $7.74 billion during the quarter, compared to analyst estimates of $7.66 billion. Time Warner had a return on equity of 19.45% and a net margin of 13.90%. Time Warner’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.49 EPS. On average, analysts predict that Time Warner Inc. will post $6.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st were given a dividend of $0.4025 per share. This represents a $1.61 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Friday, May 26th. Time Warner’s payout ratio is 30.78%.
Several equities research analysts have commented on the company. MKM Partners restated a “neutral” rating and issued a $107.50 target price (up previously from $90.00) on shares of Time Warner in a research note on Monday, May 1st. Royal Bank Of Canada set a $108.00 price objective on Time Warner and gave the stock a “hold” rating in a research note on Monday, June 12th. BMO Capital Markets reiterated a “hold” rating and set a $108.00 price objective on shares of Time Warner in a research note on Monday, April 17th. Jefferies Group LLC reiterated a “buy” rating and set a $105.00 price objective on shares of Time Warner in a research note on Monday, May 22nd. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $105.00 price objective on shares of Time Warner in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $100.50.
In other Time Warner news, CFO Howard M. Averill purchased 255 shares of the stock in a transaction on Thursday, June 15th. The stock was acquired at an average price of $99.67 per share, with a total value of $25,415.85. Following the transaction, the chief financial officer now directly owns 63,399 shares of the company’s stock, valued at approximately $6,318,978.33. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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 premium pay television and over the top (OTT) services and premium pay, basic tier television and OTT services internationally, and Warner Bros., which consists of television, feature film, home video, and videogame production and distribution.
Want to see what other hedge funds are holding TWX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Time Warner Inc. (NYSE:TWX).
Receive News & Ratings for Time Warner Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Time Warner Inc. and related companies with MarketBeat.com's FREE daily email newsletter.