Time Inc (TIME) Short Interest Update

Time Inc (NYSE:TIME) was the target of a significant decrease in short interest in December. As of December 29th, there was short interest totalling 2,658,121 shares, a decrease of 54.8% from the December 15th total of 5,887,280 shares. Currently, 2.7% of the shares of the stock are short sold. Based on an average daily volume of 897,160 shares, the short-interest ratio is presently 3.0 days.

Shares of Time (TIME) opened at $18.45 on Thursday. Time has a 12 month low of $9.90 and a 12 month high of $19.70. The stock has a market cap of $1,840.00, a price-to-earnings ratio of -922.50, a PEG ratio of 2.73 and a beta of 1.06. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.88.

Time (NYSE:TIME) last announced its quarterly earnings results on Thursday, November 9th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $693.65 million. During the same period in the prior year, the company earned $0.31 EPS. The firm’s revenue was down 9.5% on a year-over-year basis. sell-side analysts predict that Time will post 1.06 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Shell Asset Management Co. acquired a new stake in shares of Time in the 3rd quarter valued at about $104,000. Shelton Capital Management acquired a new stake in Time during the second quarter worth about $144,000. Riverhead Capital Management LLC grew 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 worth $148,000 after purchasing an additional 4,743 shares during the last quarter. Flinton Capital Management LLC grew 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 worth $150,000 after purchasing an additional 4,794 shares during the last quarter. Finally, QS Investors LLC bought a new position in Time in the 2nd quarter worth about $184,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

A number of research analysts have commented on TIME shares. ValuEngine upgraded Time from a “hold” rating to a “buy” rating in a research note on Thursday, November 16th. Morgan Stanley reduced their price objective on Time from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Monday, October 23rd. Gabelli cut Time from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. Zacks Investment Research upgraded Time from a “sell” rating to a “hold” rating in a research note on Saturday, November 11th. Finally, Citigroup cut Time from a “buy” rating to a “neutral” rating in a research note on Monday, December 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.17.

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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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