Halcyon Management Partners LP raised its stake in Time Warner Inc (NYSE:TWX) by 6.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 415,145 shares of the media conglomerate’s stock after buying an additional 25,133 shares during the period. Time Warner comprises about 5.5% of Halcyon Management Partners LP’s investment portfolio, making the stock its 8th biggest position. Halcyon Management Partners LP owned 0.05% of Time Warner worth $37,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently modified their holdings of the company. Bank of Nova Scotia Trust Co. bought a new position in shares of Time Warner during the 3rd quarter valued at $102,000. Americafirst Capital Management LLC bought a new position in shares of Time Warner during the 3rd quarter valued at $106,000. Zions Bancorporation grew its holdings in shares of Time Warner by 698.6% during the 3rd quarter. Zions Bancorporation now owns 1,142 shares of the media conglomerate’s stock valued at $117,000 after purchasing an additional 999 shares during the last quarter. Vestpro Financial Partners Inc. dba CPF Texas bought a new position in shares of Time Warner during the 4th quarter valued at $131,000. Finally, NTV Asset Management LLC bought a new position in shares of Time Warner during the 3rd quarter valued at $202,000. 80.89% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently commented on TWX. UBS Group raised shares of Time Warner from a “neutral” rating to a “buy” rating in a report on Monday. Zacks Investment Research raised shares of Time Warner from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a report on Tuesday, February 6th. Barclays raised their price target on shares of Time Warner from $100.00 to $101.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. ValuEngine lowered shares of Time Warner from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Pivotal Research reissued a “buy” rating and issued a $108.00 price target on shares of Time Warner in a report on Thursday, February 1st. Fifteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $104.15.
Time Warner (NYSE:TWX) last issued its quarterly earnings results on Thursday, February 1st. The media conglomerate reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.16. Time Warner had a net margin of 16.78% and a return on equity of 18.96%. The company had revenue of $8.61 billion during the quarter, compared to analysts’ expectations of $8.41 billion. During the same period last year, the company posted $1.25 EPS. Time Warner’s revenue was up 9.1% on a year-over-year basis. equities analysts anticipate that Time Warner Inc will post 7.67 earnings per share for the current year.
In related news, insider Olaf Olafsson sold 23,450 shares of Time Warner stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $90.03, for a total transaction of $2,111,203.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the director now owns 27,785 shares of the company’s stock, valued at $2,600,953.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,488 shares of company stock valued at $2,878,069. 0.16% of the stock is currently owned by corporate insiders.
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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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