Hourglass Capital LLC Acquires New Stake in Time Warner Inc (TWX)
Hourglass Capital LLC acquired a new position in shares of Time Warner Inc (NYSE:TWX) in the 4th quarter, HoldingsChannel reports. The fund acquired 29,428 shares of the media conglomerate’s stock, valued at approximately $2,692,000.
Several other hedge funds have also recently bought and sold shares of TWX. Cowen Inc. boosted its position in shares of Time Warner by 833.4% during the third quarter. Cowen Inc. now owns 2,576,195 shares of the media conglomerate’s stock worth $263,933,000 after buying an additional 2,300,205 shares during the period. Janus Henderson Group PLC boosted its position in shares of Time Warner by 49.2% during the third quarter. Janus Henderson Group PLC now owns 3,240,057 shares of the media conglomerate’s stock worth $331,940,000 after buying an additional 1,068,229 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Time Warner during the third quarter worth about $82,459,000. Global Thematic Partners LLC boosted its position in shares of Time Warner by 245.4% during the fourth quarter. Global Thematic Partners LLC now owns 909,250 shares of the media conglomerate’s stock worth $83,170,000 after buying an additional 646,008 shares during the period. Finally, Omni Partners LLP boosted its position in shares of Time Warner by 141.3% during the third quarter. Omni Partners LLP now owns 903,465 shares of the media conglomerate’s stock worth $92,560,000 after buying an additional 529,111 shares during the period. 76.85% of the stock is owned by institutional investors.
In other news, CEO Jeffrey L. Bewkes sold 329,478 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $90.65, for a total value 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 $77,589,601.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William P. Barr sold 4,019 shares of the firm’s stock in a transaction that occurred on 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 directly owns 44,959 shares of the company’s stock, valued at $4,370,014.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 360,966 shares of company stock valued at $32,745,250. Insiders own 0.16% of the company’s stock.
Shares of Time Warner Inc (NYSE:TWX) opened at $94.31 on Wednesday. Time Warner Inc has a 52-week low of $85.88 and a 52-week high of $103.90. The stock has a market capitalization of $73,015.80, a P/E ratio of 14.60, a PEG ratio of 1.26 and a beta of 0.94. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 0.91.
Time Warner (NYSE:TWX) last released its quarterly earnings data on Thursday, February 1st. The media conglomerate reported $1.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.16. Time Warner had a return on equity of 18.96% and a net margin of 16.78%. 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 firm posted $1.25 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. sell-side analysts anticipate that Time Warner Inc will post 7.56 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were given a $0.4025 dividend. The ex-dividend date was Tuesday, January 9th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.71%. Time Warner’s payout ratio is 24.32%.
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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