Time Warner Inc (TWX) Shares Sold by Segantii Capital Management Ltd
Segantii Capital Management Ltd lessened its stake in Time Warner Inc (NYSE:TWX) by 37.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 243,374 shares of the media conglomerate’s stock after selling 144,481 shares during the period. Time Warner comprises about 6.8% of Segantii Capital Management Ltd’s investment portfolio, making the stock its 4th largest position. Segantii Capital Management Ltd’s holdings in Time Warner were worth $22,261,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of the stock. Bank of Nova Scotia Trust Co. bought a new stake in Time Warner during the third quarter valued at $102,000. Americafirst Capital Management LLC bought a new stake in Time Warner during the third quarter valued at $106,000. Zions Bancorporation increased its stake in Time Warner by 698.6% during the third 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. Advisory Services Network LLC increased its stake in Time Warner by 1.8% during the second quarter. Advisory Services Network LLC now owns 1,439 shares of the media conglomerate’s stock valued at $144,000 after purchasing an additional 26 shares during the last quarter. Finally, Phocas Financial Corp. bought a new stake in Time Warner during the second quarter valued at $172,000. Institutional investors and hedge funds own 76.85% of the company’s stock.
In related news, Director William P. Barr sold 4,019 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $97.20, for a total value of $390,646.80. Following the completion of the sale, the director now owns 44,959 shares of the company’s stock, valued at $4,370,014.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey L. Bewkes sold 329,478 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $90.65, for a total transaction of $29,867,180.70. Following the completion of the sale, the chief executive officer now directly owns 855,925 shares of the company’s stock, valued at approximately $77,589,601.25. The disclosure for this sale can be found here. Insiders sold 356,947 shares of company stock valued at $32,369,031 in the last ninety days. Corporate 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 consensus estimate of $1.44 by $0.16. The business had revenue of $8.61 billion during the quarter, compared to the consensus estimate of $8.41 billion. Time Warner had a net margin of 16.78% and a return on equity of 18.96%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 earnings per share. analysts forecast that Time Warner Inc will post 7.56 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were issued a $0.4025 dividend. This represents a $1.61 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Tuesday, January 9th. Time Warner’s payout ratio is currently 24.32%.
Several research firms have weighed in on TWX. Zacks Investment Research upgraded shares of Time Warner from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a research note on Tuesday, February 6th. Barclays boosted their price target on shares of Time Warner from $100.00 to $101.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. ValuEngine downgraded shares of Time Warner from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Pivotal Research reissued a “buy” rating and set a $108.00 price target on shares of Time Warner in a report on Thursday, February 1st. Finally, Moffett Nathanson raised shares of Time Warner from a “neutral” rating to a “buy” rating in a report on Wednesday, January 31st. Sixteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $104.36.
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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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