Time Warner Cable Director Sells $3,965,100 in Stock (TWC)
Time Warner Cable (NYSE:TWC) Director Glenn Britt sold 30,000 shares of the company’s stock on the open market in a transaction dated Monday, January 27th. The stock was sold at an average price of $132.17, for a total transaction of $3,965,100.00. Following the sale, the director now directly owns 158,947 shares of the company’s stock, valued at approximately $21,008,025. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Time Warner Cable (NYSE:TWC) traded up 0.19% during mid-day trading on Tuesday, hitting $133.71. 2,105,047 shares of the company’s stock traded hands. Time Warner Cable has a 1-year low of $84.57 and a 1-year high of $139.85. The stock’s 50-day moving average is $133.6 and its 200-day moving average is $120.7. The company has a market cap of $37.691 billion and a price-to-earnings ratio of 20.56.
A number of analysts have recently weighed in on TWC shares. Analysts at Topeka Capital Markets initiated coverage on shares of Time Warner Cable in a research note to investors on Friday. They set a “hold” rating on the stock. Separately, analysts at Needham & Company downgraded shares of Time Warner Cable from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, January 21st. They now have a $135.00 price target on the stock, up previously from $132.50. They noted that the move was a valuation call. Finally, analysts at Nomura downgraded shares of Time Warner Cable from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, January 15th. They now have a $125.00 price target on the stock. Fifteen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $127.26.
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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