KCG Holdings Inc. purchased a new position in Time Inc. (NYSE:TIME) during the first quarter, Holdings Channel reports. The fund purchased 15,169 shares of the company’s stock, valued at approximately $294,000.

Several other hedge funds also recently modified their holdings of TIME. First Manhattan Co. boosted its position in Time by 1.6% in the first quarter. First Manhattan Co. now owns 7,488 shares of the company’s stock valued at $108,000 after buying an additional 118 shares during the period. Capstone Asset Management Co. boosted its position in Time by 1.7% in the first quarter. Capstone Asset Management Co. now owns 19,030 shares of the company’s stock valued at $368,000 after buying an additional 320 shares during the period. Advantus Capital Management Inc boosted its position in Time by 3.2% in the first quarter. Advantus Capital Management Inc now owns 12,700 shares of the company’s stock valued at $246,000 after buying an additional 389 shares during the period. State Treasurer State of Michigan boosted its position in Time by 1.0% in the first quarter. State Treasurer State of Michigan now owns 40,337 shares of the company’s stock valued at $781,000 after buying an additional 400 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in Time by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 25,000 shares of the company’s stock valued at $484,000 after buying an additional 500 shares during the period. 90.91% of the stock is currently owned by hedge funds and other institutional investors.

Time Inc. (NYSE TIME) opened at 14.20 on Tuesday. The stock’s 50 day moving average price is $13.86 and its 200 day moving average price is $16.57. Time Inc. has a 12-month low of $11.65 and a 12-month high of $20.40. The company’s market capitalization is $1.41 billion.

Time (NYSE:TIME) last posted its quarterly earnings data on Wednesday, May 10th. The company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.03. Time had a positive return on equity of 7.30% and a negative net margin of 2.18%. The company had revenue of $636 million for the quarter, compared to analyst estimates of $641.85 million. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. The company’s quarterly revenue was down 7.8% on a year-over-year basis. On average, equities analysts anticipate that Time Inc. will post $1.18 EPS for the current fiscal year.

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Several research firms recently issued reports on TIME. BidaskClub raised Time from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Zacks Investment Research raised Time from a “sell” rating to a “hold” rating in a research report on Friday, May 12th. Wells Fargo & Company cut Time from an “outperform” rating to a “market perform” rating in a research report on Friday, April 28th. ValuEngine cut Time from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Macquarie cut Time from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research report on Thursday, June 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Time presently has an average rating of “Hold” and an average price target of $15.33.

In related news, Director Dennis J. Fitzsimons acquired 3,000 shares of the stock in a transaction dated Thursday, May 18th. The stock was acquired at an average cost of $11.99 per share, for a total transaction of $35,970.00. Following the completion of the purchase, the director now owns 30,674 shares of the company’s stock, valued at approximately $367,781.26. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ronald S. Rolfe acquired 2,000 shares of the stock in a transaction dated Monday, May 15th. The shares were bought at an average price of $12.85 per share, with a total value of $25,700.00. Following the completion of the purchase, the director now directly owns 32,147 shares of the company’s stock, valued at approximately $413,088.95. The disclosure for this purchase can be found here. Insiders have bought 6,000 shares of company stock valued at $74,600 over the last quarter. Insiders own 1.92% of the company’s stock.

About Time

Time Inc is a media and content company. The Company offers a portfolio of news and lifestyle brands across a range of interest areas. As of December 31, 2016, the Company’s brands included People, Time, Fortune, Sports Illustrated, InStyle, Real Simple, Southern Living, Entertainment Weekly, Food & Wine, Travel + Leisure and Essence, as well as approximately 50 titles in the United Kingdom.

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Institutional Ownership by Quarter for Time (NYSE:TIME)

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