Time Inc. (NYSE:TIME) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

According to Zacks, “Time Inc. is a branded media company. It publishes magazines in the United States, the United Kingdom, and internationally. Time also provides content marketing services; targeted local print and digital advertising programs; branded book publishing; and marketing and support services, such as magazine subscription sales services, retail distribution and marketing services, and customer service and fulfilment services to other third-party clients, including other magazine publishers. The Company’s brands includes Time, People, Sports Illustrated, InStyle, Real Simple, Travel + Leisure, Food & Wine, and Wallpaper. Time Inc. is headquartered in New York. “

Other equities research analysts have also recently issued reports about the stock. BidaskClub raised shares of Time from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. ValuEngine cut shares of Time from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Wells Fargo & Company cut shares of Time from an “outperform” rating to a “market perform” rating in a report on Friday, April 28th. Finally, Macquarie cut shares of Time from an “outperform” rating to a “neutral” rating and set a $15.00 price target on the stock. in a report on Thursday, June 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $15.33.

Shares of Time (TIME) traded up 0.177% during midday trading on Thursday, hitting $14.175. The stock had a trading volume of 433,356 shares. Time has a 1-year low of $11.65 and a 1-year high of $20.40. The company’s 50 day moving average price is $13.74 and its 200-day moving average price is $16.67. The firm’s market capitalization is $1.41 billion.

Time (NYSE:TIME) last issued its quarterly earnings results on Wednesday, May 10th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.15) by $0.03. Time had a positive return on equity of 7.30% and a negative net margin of 2.18%. The business had revenue of $636 million for the quarter, compared to the consensus estimate of $641.85 million. During the same period last year, the firm earned ($0.11) earnings per share. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. Equities analysts predict that Time will post $1.18 earnings per share for the current year.

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In related news, Director Ronald S. Rolfe acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was acquired at an average price of $12.85 per share, with a total value of $25,700.00. Following the purchase, the director now directly owns 32,147 shares in the company, valued at $413,088.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dennis J. Fitzsimons acquired 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was bought at an average cost of $11.99 per share, with a total value of $35,970.00. Following the purchase, the director now owns 30,674 shares in the company, valued at $367,781.26. The disclosure for this purchase can be found here. Insiders have purchased a total of 6,000 shares of company stock worth $74,600 in the last quarter. 1.92% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Time by 15,894.7% in the first quarter. BlackRock Inc. now owns 10,582,908 shares of the company’s stock valued at $204,781,000 after buying an additional 10,516,743 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Time during the first quarter valued at approximately $29,239,000. Norges Bank bought a new position in shares of Time during the fourth quarter valued at approximately $22,934,000. Renaissance Technologies LLC increased its position in shares of Time by 53.8% in the first quarter. Renaissance Technologies LLC now owns 2,487,300 shares of the company’s stock valued at $48,129,000 after buying an additional 870,200 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Time by 14.7% in the first quarter. Dimensional Fund Advisors LP now owns 4,923,019 shares of the company’s stock valued at $95,260,000 after buying an additional 631,143 shares during the last quarter. 90.67% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Time (NYSE:TIME)

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