Los Angeles Capital Management & Equity Research Inc. Buys 11,120 Shares of Time Inc. (TIME)
Los Angeles Capital Management & Equity Research Inc. lifted its stake in Time Inc. (NYSE:TIME) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 325,314 shares of the company’s stock after acquiring an additional 11,120 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.33% of Time worth $4,668,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System increased its position in Time by 2.0% during the first quarter. Louisiana State Employees Retirement System now owns 25,000 shares of the company’s stock worth $484,000 after buying an additional 500 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Time by 5.7% during the first quarter. Nisa Investment Advisors LLC now owns 15,583 shares of the company’s stock worth $302,000 after buying an additional 840 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Time by 1.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 35,071 shares of the company’s stock worth $679,000 after buying an additional 500 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Time during the first quarter worth approximately $104,000. Finally, Great West Life Assurance Co. Can increased its position in Time by 4.0% during the first quarter. Great West Life Assurance Co. Can now owns 59,427 shares of the company’s stock worth $1,146,000 after buying an additional 2,259 shares during the last quarter. 89.88% of the stock is currently owned by institutional investors and hedge funds.
Time Inc. (NYSE TIME) opened at 13.30 on Wednesday. Time Inc. has a 12 month low of $11.65 and a 12 month high of $20.40. The firm’s market cap is $1.32 billion. The firm’s 50-day moving average price is $13.33 and its 200-day moving average price is $15.19.
Time (NYSE:TIME) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.03). Time had a positive return on equity of 7.06% and a negative net margin of 4.34%. The company had revenue of $694.00 million for the quarter, compared to analysts’ expectations of $698.66 million. During the same quarter in the previous year, the business earned $0.22 EPS. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, equities research analysts expect that Time Inc. will post $1.10 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.04 per share. The ex-dividend date is Tuesday, August 29th. This represents a $0.16 annualized dividend and a dividend yield of 1.20%. Time’s payout ratio is currently -12.31%.
A number of equities analysts have weighed in on the company. ValuEngine raised Time from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. BidaskClub raised Time from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised Time from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Macquarie downgraded Time from an “outperform” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research report on Thursday, June 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $15.40.
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Time Company Profile
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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