FNY Partners Fund LP Buys 103,911 Shares of Time Warner Inc. (TWX)
FNY Partners Fund LP increased its stake in Time Warner Inc. (NYSE:TWX) by 14,844.4% during the first quarter, Holdings Channel reports. The fund owned 104,611 shares of the media conglomerate’s stock after buying an additional 103,911 shares during the period. Time Warner makes up 0.7% of FNY Partners Fund LP’s portfolio, making the stock its 18th largest position. FNY Partners Fund LP’s holdings in Time Warner were worth $10,221,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Time Warner by 3.7% in the first quarter. Vanguard Group Inc. now owns 48,726,247 shares of the media conglomerate’s stock valued at $4,761,042,000 after buying an additional 1,740,936 shares during the last quarter. BlackRock Inc. raised its position in Time Warner by 2,169.2% in the first quarter. BlackRock Inc. now owns 42,827,346 shares of the media conglomerate’s stock valued at $4,184,660,000 after buying an additional 40,940,053 shares during the last quarter. State Street Corp raised its position in Time Warner by 2.1% in the first quarter. State Street Corp now owns 32,749,966 shares of the media conglomerate’s stock valued at $3,199,990,000 after buying an additional 688,860 shares during the last quarter. FMR LLC raised its position in Time Warner by 0.6% in the first quarter. FMR LLC now owns 11,932,302 shares of the media conglomerate’s stock valued at $1,165,905,000 after buying an additional 68,625 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Time Warner by 8.3% in the first quarter. Geode Capital Management LLC now owns 7,281,041 shares of the media conglomerate’s stock valued at $710,380,000 after buying an additional 556,674 shares during the last quarter. Institutional investors and hedge funds own 79.78% of the company’s stock.
Time Warner Inc. (NYSE TWX) traded up 0.17% during mid-day trading on Friday, reaching $102.52. The company’s stock had a trading volume of 2,688,354 shares. Time Warner Inc. has a one year low of $74.27 and a one year high of $103.34. The stock has a 50-day moving average price of $100.19 and a 200-day moving average price of $98.55. The company has a market capitalization of $79.66 billion, a price-to-earnings ratio of 19.01 and a beta of 1.05.
Time Warner (NYSE:TWX) last announced its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.14. The company had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.29 billion. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $1.29 EPS. Equities research analysts forecast that Time Warner Inc. will post $6.08 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a dividend of $0.4025 per share. This represents a $1.61 annualized dividend and a yield of 1.57%. The ex-dividend date was Thursday, July 6th. Time Warner’s dividend payout ratio is currently 29.98%.
TWX has been the topic of several recent research reports. BidaskClub lowered Time Warner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Royal Bank Of Canada restated a “hold” rating and set a $108.00 price target on shares of Time Warner in a research report on Friday, July 14th. Jefferies Group LLC restated a “buy” rating and set a $105.00 price target on shares of Time Warner in a research report on Monday, May 22nd. Cowen and Company restated a “hold” rating and set a $107.50 price target on shares of Time Warner in a research report on Thursday. Finally, Barclays PLC lowered Time Warner from an “overweight” rating to an “equal weight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, twenty-three have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $101.82.
In related news, CFO Howard M. Averill purchased 255 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were bought at an average cost of $99.67 per share, with a total value of $25,415.85. Following the transaction, the chief financial officer now owns 63,399 shares of the company’s stock, valued at $6,318,978.33. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by company insiders.
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.
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