Insider Selling: Glenn Britt Unloads 30,000 Shares of Time Warner Cable Stock (TWC)
Time Warner Cable (NYSE:TWC) Director Glenn Britt sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $135.03, for a total value of $4,050,900.00. Following the completion of the sale, the director now directly owns 158,947 shares of the company’s stock, valued at approximately $21,462,613. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Time Warner Cable (NYSE:TWC) traded up 0.31% on Friday, hitting $135.71. The stock had a trading volume of 2,704,569 shares. Time Warner Cable has a one year low of $84.57 and a one year high of $139.85. The stock’s 50-day moving average is $133. and its 200-day moving average is $119.5. The company has a market cap of $38.255 billion and a price-to-earnings ratio of 20.84.
Time Warner Cable (NYSE:TWC) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.05. The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts predict that Time Warner Cable will post $6.54 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on TWC shares. Analysts at Nomura initiated coverage on shares of Time Warner Cable in a research note to investors on Wednesday. They set a “neutral” rating on the stock. Separately, analysts at Wunderlich raised their price target on shares of Time Warner Cable from $124.00 to $132.50 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at Buckingham Research initiated coverage on shares of Time Warner Cable in a research note to investors on Thursday, December 19th. They set a “neutral” rating on the stock. Thirteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Time Warner Cable currently has a consensus rating of “Buy” and a consensus target price of $127.38.
Time Warner Cable Inc (NYSE:TWC) is a provider of video, high-speed data and voice services in the United States with systems located in five geographic areas: New York State, the Carolinas, Ohio, Southern California and Texas.
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