Advisors Asset Management Inc. Cuts Position in Time Inc. (TIME)

Advisors Asset Management Inc. reduced its stake in Time Inc. (NYSE:TIME) by 37.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,631 shares of the company’s stock after selling 26,052 shares during the quarter. Advisors Asset Management Inc.’s holdings in Time were worth $589,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of TIME. Shell Asset Management Co. bought a new stake in Time in the 3rd quarter valued at $104,000. Shelton Capital Management bought a new stake in Time in the 2nd quarter valued at $144,000. Riverhead Capital Management LLC lifted its position in Time by 84.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 10,343 shares of the company’s stock valued at $148,000 after acquiring an additional 4,743 shares in the last quarter. Flinton Capital Management LLC lifted its position in Time by 84.9% in the 2nd quarter. Flinton Capital Management LLC now owns 10,438 shares of the company’s stock valued at $150,000 after acquiring an additional 4,794 shares in the last quarter. Finally, Balter Liquid Alternatives LLC bought a new stake in Time in the 2nd quarter valued at $156,000. 88.23% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have commented on the stock. BidaskClub raised shares of Time from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 28th. Zacks Investment Research raised shares of Time from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Morgan Stanley cut their price target on shares of Time from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Monday, October 23rd. Evercore ISI assumed coverage on shares of Time in a research report on Friday, November 17th. They set an “outperform” rating and a $7.00 price target on the stock. Finally, ValuEngine raised shares of Time from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $14.00.

Shares of Time Inc. (NYSE TIME) traded down $0.10 during trading hours on Tuesday, reaching $18.50. 2,117,500 shares of the company’s stock traded hands, compared to its average volume of 1,439,228. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.88. Time Inc. has a 52-week low of $9.90 and a 52-week high of $20.40. The company has a market cap of $1,852.97, a PE ratio of 17.55, a PEG ratio of 3.55 and a beta of 1.02.

Time (NYSE:TIME) last issued its quarterly earnings results on Thursday, November 9th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.28 by $0.08. Time had a negative net margin of 0.10% and a positive return on equity of 7.53%. The firm had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $693.65 million. During the same period in the previous year, the firm posted $0.31 EPS. The company’s revenue for the quarter was down 9.5% on a year-over-year basis. research analysts expect that Time Inc. will post 1.05 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.16 annualized dividend and a dividend yield of 0.86%. Time’s dividend payout ratio is presently -533.16%.

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About Time

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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Institutional Ownership by Quarter for Time (NYSE:TIME)

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