Time Inc (TIME) Stake Decreased by AMG Funds LLC
AMG Funds LLC cut its holdings in shares of Time Inc (NYSE:TIME) by 8.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 136,190 shares of the company’s stock after selling 11,787 shares during the period. Time comprises about 1.4% of AMG Funds LLC’s investment portfolio, making the stock its 13th biggest holding. AMG Funds LLC’s holdings in Time were worth $2,513,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Shell Asset Management Co. acquired a new position in Time in the third quarter worth about $104,000. Shelton Capital Management acquired a new position in Time in the second quarter worth about $144,000. Flinton Capital Management LLC grew its stake in Time by 84.9% in the second 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 in the last quarter. QS Investors LLC acquired a new position in Time in the second quarter worth about $184,000. Finally, First Trust Advisors LP grew its stake in Time by 48.2% in the third quarter. First Trust Advisors LP now owns 16,045 shares of the company’s stock worth $217,000 after purchasing an additional 5,217 shares in the last quarter. Institutional investors own 89.28% of the company’s stock.
A number of equities analysts recently commented on the company. ValuEngine upgraded Time from a “hold” rating to a “buy” rating in a research note on Thursday, November 16th. Gabelli cut shares of Time from a “buy” rating to a “sell” rating and set a $20.00 target price on the stock. in a report on Tuesday, November 28th. Citigroup cut shares of Time from a “buy” rating to a “neutral” rating in a report on Monday, December 4th. Zacks Investment Research raised shares of Time from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a report on Friday, January 5th. Finally, Evercore ISI started coverage on shares of Time in a report on Friday, November 17th. They issued an “outperform” rating and a $7.00 target price on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $15.17.
Time (NYSE:TIME) last issued its earnings results on Thursday, November 9th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $693.65 million. During the same quarter last year, the company posted $0.31 earnings per share. Time’s revenue was down 9.5% on a year-over-year basis. equities analysts expect that Time Inc will post 1.06 EPS for the current fiscal year.
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Time Inc is a media and content company. The Company offers a portfolio of news and lifestyle brands across a range of interest areas. The Company’s brands included People, Time, Fortune, Sports Illustrated, InStyle, Real Simple, Southern Living, Entertainment Weekly, Food & Wine, and Travel + Leisure, as well as approximately 50 titles in the United Kingdom.
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