Vident Investment Advisory LLC Acquires New Stake in Time Warner Inc (TWX)
Vident Investment Advisory LLC acquired a new stake in Time Warner Inc (NYSE:TWX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,463 shares of the media conglomerate’s stock, valued at approximately $1,277,000.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Jacobi Capital Management LLC lifted its position in Time Warner by 2.1% in the second quarter. Jacobi Capital Management LLC now owns 995 shares of the media conglomerate’s stock worth $100,000 after purchasing an additional 20 shares during the period. Patriot Financial Group Insurance Agency LLC raised its stake in Time Warner by 4.0% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,153 shares of the media conglomerate’s stock worth $116,000 after acquiring an additional 44 shares in the last quarter. Harfst & Associates Inc. raised its stake in Time Warner by 31.6% during the second quarter. Harfst & Associates Inc. now owns 1,198 shares of the media conglomerate’s stock worth $120,000 after acquiring an additional 288 shares in the last quarter. Captrust Financial Advisors acquired a new position in Time Warner during the second quarter worth $127,000. Finally, Motco acquired a new position in Time Warner during the second quarter worth $129,000. 78.11% of the stock is owned by institutional investors.
TWX has been the subject of several recent analyst reports. Deutsche Bank reiterated a “buy” rating and set a $99.00 price objective on shares of Time Warner in a research note on Friday, November 10th. Loop Capital dropped their price objective on Time Warner from $107.50 to $102.00 and set a “hold” rating for the company in a research note on Thursday, November 9th. Wells Fargo & Company reiterated a “market perform” rating and set a $84.00 price objective (down from $100.00) on shares of Time Warner in a research note on Tuesday, November 21st. Cowen reiterated a “hold” rating and set a $102.00 price objective on shares of Time Warner in a research note on Friday, October 27th. Finally, ValuEngine lowered Time Warner from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. Twenty-three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Time Warner has an average rating of “Hold” and an average target price of $103.00.
In related news, CEO Jeffrey L. Bewkes sold 329,478 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $90.65, for a total value of $29,867,180.70. Following the transaction, the chief executive officer now owns 855,925 shares in the company, valued at $77,589,601.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by company insiders.
Shares of Time Warner Inc (NYSE TWX) traded down $0.59 during trading hours on Thursday, hitting $90.06. The stock had a trading volume of 8,529,000 shares, compared to its average volume of 4,771,813. Time Warner Inc has a 52 week low of $85.88 and a 52 week high of $103.90. The firm has a market capitalization of $70,579.46, a price-to-earnings ratio of 14.96, a PEG ratio of 1.43 and a beta of 0.95. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.26 and a current ratio of 1.48.
Time Warner (NYSE:TWX) last announced its earnings results on Thursday, October 26th. The media conglomerate reported $1.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.23. Time Warner had a return on equity of 18.57% and a net margin of 13.59%. The company had revenue of $7.60 billion during the quarter, compared to analyst estimates of $7.40 billion. During the same period last year, the company posted $1.83 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. analysts predict that Time Warner Inc will post 6.2 EPS for the current fiscal year.
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Time Warner Company Profile
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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