Atlantic Trust Group LLC increased its position in shares of Time Warner Inc. (NYSE:TWX) by 3.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,040 shares of the media conglomerate’s stock after buying an additional 477 shares during the quarter. Atlantic Trust Group LLC’s holdings in Time Warner were worth $1,610,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the stock. P Schoenfeld Asset Management LP grew its stake in Time Warner by 152.3% during the 2nd quarter. P Schoenfeld Asset Management LP now owns 1,248,077 shares of the media conglomerate’s stock worth $125,319,000 after buying an additional 753,383 shares during the last quarter. Fragasso Group Inc. grew its stake in Time Warner by 3.3% during the 2nd quarter. Fragasso Group Inc. now owns 12,820 shares of the media conglomerate’s stock worth $1,287,000 after buying an additional 410 shares during the last quarter. Synovus Financial Corp grew its stake in Time Warner by 2.4% during the 2nd quarter. Synovus Financial Corp now owns 11,298 shares of the media conglomerate’s stock worth $1,131,000 after buying an additional 268 shares during the last quarter. Intact Investment Management Inc. purchased a new position in Time Warner during the 2nd quarter worth approximately $321,000. Finally, MUFG Securities EMEA plc purchased a new position in Time Warner during the 2nd quarter worth approximately $6,527,000. Hedge funds and other institutional investors own 79.16% of the company’s stock.
Time Warner Inc. (NYSE:TWX) opened at 102.78 on Wednesday. The firm has a market capitalization of $79.94 billion, a PE ratio of 19.07 and a beta of 1.04. Time Warner Inc. has a one year low of $74.68 and a one year high of $103.34. The company’s 50-day moving average price is $101.65 and its 200 day moving average price is $99.76.
Time Warner (NYSE:TWX) last issued its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.14. The firm had revenue of $7.33 billion during the quarter, compared to analyst estimates of $7.29 billion. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the company posted $1.29 EPS. On average, analysts forecast that Time Warner Inc. will post $6.10 earnings per share for the current year.
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A number of research analysts recently issued reports on the company. Jefferies Group LLC restated a “hold” rating and set a $105.00 price target (up previously from $102.42) on shares of Time Warner in a research note on Sunday, July 30th. Zacks Investment Research downgraded Time Warner from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Cowen and Company restated a “hold” rating and set a $107.50 price target on shares of Time Warner in a research note on Thursday, August 3rd. Evercore ISI downgraded Time Warner from an “outperform” rating to an “in-line” rating and set a $108.00 price target on the stock. in a research note on Monday, August 7th. Finally, BidaskClub upgraded Time Warner from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $102.91.
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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