Dimensional Fund Advisors LP decreased its stake in shares of Time Inc. (NYSE:TIME) by 14.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,330,977 shares of the company’s stock after selling 576,219 shares during the period. Dimensional Fund Advisors LP owned 3.33% of Time worth $54,826,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in TIME. Norges Bank acquired a new position in shares of Time during the fourth quarter valued at about $37,570,000. Emerald Acquisition Ltd. purchased a new position in shares of Time during the second quarter valued at approximately $20,028,000. Renaissance Technologies LLC purchased a new position in shares of Time during the first quarter valued at approximately $18,654,000. Fairpointe Capital LLC boosted its position in shares of Time by 7.5% in the first quarter. Fairpointe Capital LLC now owns 9,704,197 shares of the company’s stock valued at $149,833,000 after buying an additional 673,887 shares during the last quarter. Finally, IBIS Capital Partners LLP boosted its position in shares of Time by 52.8% in the first quarter. IBIS Capital Partners LLP now owns 793,757 shares of the company’s stock valued at $12,256,000 after buying an additional 274,359 shares during the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.
Time Inc. (NYSE:TIME) traded down 2.04% during mid-day trading on Thursday, hitting $13.93. 112,960 shares of the company traded hands. Time Inc. has a one year low of $12.23 and a one year high of $20.01. The company’s market capitalization is $1.39 billion. The company’s 50-day moving average price is $14.48 and its 200 day moving average price is $15.28.
Time (NYSE:TIME) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. The company earned $769 million during the quarter, compared to analysts’ expectations of $782.49 million. Time had a positive return on equity of 6.36% and a negative net margin of 28.56%. Time’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 EPS. On average, analysts anticipate that Time Inc. will post $1.24 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.76 dividend on an annualized basis and a yield of 5.34%. Time’s payout ratio is -9.42%.
Several research analysts have commented on TIME shares. Zacks Investment Research upgraded shares of Time from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Wednesday, July 13th. Citigroup Inc. decreased their target price on shares of Time from $18.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, September 27th. Finally, Morgan Stanley set a $15.00 target price on shares of Time and gave the stock a “hold” rating in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $17.17.
Time Company Profile
Time Inc is a media company. The Company’s brands include People, Sports Illustrated, InStyle, Time, Real Simple, Southern Living, Entertainment Weekly, Travel + Leisure, Cooking Light, Fortune and Food & Wine, as well as over 50 diverse titles in the United Kingdom, such as Decanter, Horse & Hound, and Wallpaper*.
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