LSV Asset Management Has $6,879,000 Position in Time Inc. (TIME)
LSV Asset Management held its stake in Time Inc. (NYSE:TIME) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 479,400 shares of the company’s stock at the close of the 2nd quarter. LSV Asset Management owned 0.48% of Time worth $6,879,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of TIME. Canada Pension Plan Investment Board acquired a new stake in shares of Time in the 1st quarter valued at $104,000. Balter Liquid Alternatives LLC acquired a new stake in shares of Time in the 2nd quarter valued at $156,000. Brave Asset Management Inc. acquired a new stake in shares of Time in the 2nd quarter valued at $160,000. Kovitz Investment Group Partners LLC acquired a new stake in shares of Time in the 2nd quarter valued at $171,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of Time in the 2nd quarter valued at $181,000. 89.88% of the stock is currently owned by hedge funds and other institutional investors.
TIME has been the topic of a number of research analyst reports. Macquarie downgraded Time from an “outperform” rating to a “neutral” rating and set a $15.00 target price on the stock. in a report on Thursday, June 15th. BidaskClub downgraded Time from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. ValuEngine downgraded Time from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research downgraded Time from a “hold” rating to a “sell” rating in a report on Thursday, July 20th. One research 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 an average rating of “Hold” and an average price target of $15.40.
Shares of Time Inc. (NYSE:TIME) opened at 13.05 on Friday. The firm’s market cap is $1.30 billion. The firm has a 50 day moving average price of $13.19 and a 200-day moving average price of $15.09. Time Inc. has a one year low of $11.65 and a one year high of $20.40.
Time (NYSE:TIME) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). The firm had revenue of $694.00 million for the quarter, compared to analysts’ expectations of $698.66 million. Time had a negative net margin of 4.34% and a positive return on equity of 7.06%. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 earnings per share. Analysts forecast that Time Inc. will post $1.10 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.23%. Time’s dividend payout ratio (DPR) is currently -12.31%.
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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