Time Warner Inc (TWX) CEO Sells $29,867,180.70 in Stock
Time Warner Inc (NYSE:TWX) CEO Jeffrey L. Bewkes sold 329,478 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $90.65, for a total transaction of $29,867,180.70. Following the completion of the sale, the chief executive officer now owns 855,925 shares in the company, valued at approximately $77,589,601.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Time Warner Inc (TWX) traded up $0.34 on Friday, reaching $90.71. 2,980,187 shares of the company’s stock traded hands, compared to its average volume of 4,764,727. The company has a current ratio of 1.48, a quick ratio of 1.26 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $70,630.00, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 1.42 and a beta of 0.95. Time Warner Inc has a fifty-two week low of $85.88 and a fifty-two week high of $103.90.
Time Warner (NYSE:TWX) last posted its quarterly earnings data on Thursday, October 26th. The media conglomerate reported $1.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.23. The business had revenue of $7.60 billion for the quarter, compared to the consensus estimate of $7.40 billion. Time Warner had a net margin of 13.59% and a return on equity of 18.57%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $1.83 earnings per share. sell-side analysts expect that Time Warner Inc will post 6.2 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the business. Jacobi Capital Management LLC lifted its stake in shares of Time Warner by 2.1% in the second quarter. Jacobi Capital Management LLC now owns 995 shares of the media conglomerate’s stock worth $100,000 after buying an additional 20 shares in the last quarter. Bank of Nova Scotia Trust Co. purchased a new position in shares of Time Warner in the third quarter worth about $102,000. Americafirst Capital Management LLC purchased a new position in shares of Time Warner in the third quarter worth about $106,000. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Time Warner by 4.0% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,153 shares of the media conglomerate’s stock worth $116,000 after buying an additional 44 shares in the last quarter. Finally, Zions Bancorporation lifted its stake in shares of Time Warner by 698.6% in the third quarter. Zions Bancorporation now owns 1,142 shares of the media conglomerate’s stock worth $117,000 after buying an additional 999 shares in the last quarter. 78.11% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: This report was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this report on another publication, it was illegally stolen and republished in violation of international copyright & trademark law. The correct version of this report can be viewed at https://www.americanbankingnews.com/2017/12/08/time-warner-inc-twx-ceo-sells-29867180-70-in-stock.html.
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.
Receive News & Ratings for Time Warner Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Time Warner Inc and related companies with MarketBeat.com's FREE daily email newsletter.