Time Warner Inc. (TWX) Position Reduced by Taurus Asset Management LLC
Taurus Asset Management LLC lowered its position in Time Warner Inc. (NYSE:TWX) by 14.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,890 shares of the media conglomerate’s stock after selling 9,155 shares during the period. Taurus Asset Management LLC’s holdings in Time Warner were worth $5,612,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in TWX. Bellwether Investment Group LLC lifted its position in Time Warner by 15.6% in the first quarter. Bellwether Investment Group LLC now owns 1,083 shares of the media conglomerate’s stock valued at $106,000 after purchasing an additional 146 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its position in Time Warner by 9.9% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,109 shares of the media conglomerate’s stock valued at $109,000 after purchasing an additional 100 shares during the period. Advisory Services Network LLC acquired a new stake in Time Warner in the first quarter valued at about $138,000. Archford Capital Strategies LLC lifted its position in Time Warner by 43.5% in the first quarter. Archford Capital Strategies LLC now owns 1,587 shares of the media conglomerate’s stock valued at $155,000 after purchasing an additional 481 shares during the period. Finally, City Holding Co. lifted its position in Time Warner by 7.7% in the second quarter. City Holding Co. now owns 1,715 shares of the media conglomerate’s stock valued at $172,000 after purchasing an additional 123 shares during the period. Hedge funds and other institutional investors own 79.28% of the company’s stock.
In related news, CFO Howard M. Averill acquired 255 shares of Time Warner stock in a transaction on Thursday, June 15th. The stock was purchased at an average cost of $99.67 per share, with a total value of $25,415.85. Following the completion of the transaction, the chief financial officer now directly owns 63,399 shares in the company, valued at approximately $6,318,978.33. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.16% of the company’s stock.
Shares of Time Warner Inc. (TWX) opened at 101.60 on Tuesday. The company’s 50-day moving average is $101.41 and its 200-day moving average is $99.43. The firm has a market cap of $79.02 billion, a price-to-earnings ratio of 18.85 and a beta of 1.04. Time Warner Inc. has a 12 month low of $74.27 and a 12 month high of $103.34.
Time Warner (NYSE:TWX) last released its quarterly earnings data on Wednesday, August 2nd. The media conglomerate reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.14. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. The firm had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same period in the previous year, the business posted $1.29 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts forecast that Time Warner Inc. will post $6.10 earnings per share for the current fiscal year.
TWX has been the subject of a number of recent analyst reports. BidaskClub downgraded shares of Time Warner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Royal Bank Of Canada restated a “hold” rating and issued a $108.00 price objective on shares of Time Warner in a research report on Friday, July 14th. Jefferies Group LLC restated a “buy” rating and issued a $105.00 price objective on shares of Time Warner in a research report on Monday, May 22nd. Cowen and Company restated a “hold” rating and issued a $107.50 price objective on shares of Time Warner in a research report on Thursday, August 3rd. Finally, Evercore ISI downgraded shares of Time Warner from an “outperform” rating to an “in-line” rating and set a $108.00 price objective for the company. in a research report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Time Warner currently has a consensus rating of “Hold” and a consensus price target of $102.25.
Time Warner Profile
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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