Marathon Trading Investment Management LLC acquired a new stake in Time Warner Inc (NYSE:TWX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 115,800 shares of the media conglomerate’s stock, valued at approximately $10,592,000. Time Warner accounts for about 0.3% of Marathon Trading Investment Management LLC’s investment portfolio, making the stock its 5th largest holding.
A number of other hedge funds and other institutional investors have also bought and sold shares of TWX. Cheyne Capital Management UK LLP lifted its holdings in shares of Time Warner by 29.9% during the 4th quarter. Cheyne Capital Management UK LLP now owns 263,513 shares of the media conglomerate’s stock worth $24,135,000 after acquiring an additional 60,600 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Time Warner by 6.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 451,805 shares of the media conglomerate’s stock worth $46,290,000 after acquiring an additional 28,670 shares during the period. MUFG Securities EMEA plc lifted its holdings in shares of Time Warner by 600.0% during the 3rd quarter. MUFG Securities EMEA plc now owns 455,000 shares of the media conglomerate’s stock worth $46,615,000 after acquiring an additional 390,000 shares during the period. AMP Capital Investors Ltd lifted its holdings in shares of Time Warner by 1.8% during the 3rd quarter. AMP Capital Investors Ltd now owns 431,923 shares of the media conglomerate’s stock worth $44,251,000 after acquiring an additional 7,762 shares during the period. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of Time Warner during the 3rd quarter worth approximately $1,449,000. 80.89% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Deborah C. Wright sold 4,019 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $93.61, for a total transaction of $376,218.59. Following the completion of the sale, the director now owns 27,785 shares in the company, valued at $2,600,953.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Olaf Olafsson sold 23,450 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $90.03, for a total transaction of $2,111,203.50. The disclosure for this sale can be found here. Insiders sold 31,488 shares of company stock worth $2,878,069 over the last ninety days. Insiders own 0.16% of the company’s stock.
Time Warner (NYSE:TWX) last posted its quarterly earnings data on Thursday, February 1st. The media conglomerate reported $1.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.16. The company had revenue of $8.61 billion during the quarter, compared to analysts’ expectations of $8.41 billion. Time Warner had a net margin of 16.78% and a return on equity of 18.96%. Time Warner’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 earnings per share. equities research analysts predict that Time Warner Inc will post 7.67 earnings per share for the current year.
A number of brokerages have recently weighed in on TWX. UBS Group raised shares of Time Warner from a “neutral” rating to a “buy” rating in a report on Monday. Barclays increased their price objective on shares of Time Warner from $100.00 to $101.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Pivotal Research reissued a “buy” rating and issued a $108.00 price objective on shares of Time Warner in a research note on Thursday, February 1st. B. Riley reissued a “hold” rating and issued a $101.00 price objective on shares of Time Warner in a research note on Tuesday, November 21st. Finally, Wells Fargo & Co reissued a “market perform” rating and issued a $98.00 price objective (up previously from $84.00) on shares of Time Warner in a research note on Thursday, January 4th. Fifteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $104.15.
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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.
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