Mission Wealth Management LP lessened its position in shares of Time Warner Inc (NYSE:TWX) by 17.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,635 shares of the media conglomerate’s stock after selling 1,561 shares during the quarter. Mission Wealth Management LP’s holdings in Time Warner were worth $698,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TWX. Advisory Services Network LLC boosted its holdings in shares of Time Warner by 1.8% in the 2nd quarter. Advisory Services Network LLC now owns 1,439 shares of the media conglomerate’s stock worth $144,000 after purchasing an additional 26 shares during the period. Intl Fcstone Inc. purchased a new position in shares of Time Warner in the 2nd quarter worth approximately $722,000. Assenagon Asset Management S.A. purchased a new position in shares of Time Warner in the 3rd quarter worth approximately $1,497,000. M. Kraus & Co purchased a new position in shares of Time Warner in the 3rd quarter worth approximately $2,106,000. Finally, Fisher Asset Management LLC boosted its holdings in shares of Time Warner by 6.2% in the 3rd quarter. Fisher Asset Management LLC now owns 10,792 shares of the media conglomerate’s stock worth $1,106,000 after purchasing an additional 626 shares during the period. Institutional investors and hedge funds own 80.89% of the company’s stock.
A number of research firms recently issued reports on TWX. UBS Group upgraded Time Warner from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $95.26 to $108.00 in a report on Monday. Barclays boosted their price objective on Time Warner from $100.00 to $101.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Pivotal Research restated a “buy” rating and set a $108.00 price objective on shares of Time Warner in a report on Thursday, February 1st. B. Riley restated a “hold” rating and set a $101.00 price objective on shares of Time Warner in a report on Tuesday, November 21st. Finally, Wells Fargo & Co restated a “market perform” rating and set a $98.00 price objective (up previously from $84.00) on shares of Time Warner in a report on Thursday, January 4th. Fifteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Time Warner has a consensus rating of “Hold” and a consensus target price of $104.36.
Time Warner (NYSE:TWX) last issued its earnings results on Thursday, February 1st. The media conglomerate reported $1.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.16. The business had revenue of $8.61 billion during the quarter, compared to analyst estimates of $8.41 billion. Time Warner had a return on equity of 18.96% and a net margin of 16.78%. Time Warner’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 EPS. equities research analysts anticipate that Time Warner Inc will post 7.67 earnings per share for the current year.
In other news, insider Olaf Olafsson sold 23,450 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $90.03, for a total value of $2,111,203.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Deborah C. Wright sold 4,019 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $93.61, for a total value of $376,218.59. Following the completion of the transaction, the director now directly 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 sold 31,488 shares of company stock valued at $2,878,069. Corporate insiders own 0.16% of the company’s stock.
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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