TT International boosted its stake in Time Warner Inc. (NYSE:TWX) by 77.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 97,873 shares of the media conglomerate’s stock after buying an additional 42,723 shares during the quarter. Time Warner makes up 2.3% of TT International’s investment portfolio, making the stock its 10th largest holding. TT International’s holdings in Time Warner were worth $9,827,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership purchased a new stake in Time Warner in the 2nd quarter valued at $26,147,000. Moors & Cabot Inc. raised its position in Time Warner by 9.5% in the 2nd quarter. Moors & Cabot Inc. now owns 5,240 shares of the media conglomerate’s stock valued at $526,000 after buying an additional 453 shares during the last quarter. CNH Partners LLC raised its position in Time Warner by 50.1% in the 2nd quarter. CNH Partners LLC now owns 2,035,648 shares of the media conglomerate’s stock valued at $204,399,000 after buying an additional 679,703 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in Time Warner by 2,414.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,057 shares of the media conglomerate’s stock valued at $1,010,000 after buying an additional 9,657 shares during the last quarter. Finally, York Capital Management Global Advisors LLC raised its position in Time Warner by 65.5% in the 2nd quarter. York Capital Management Global Advisors LLC now owns 3,231,633 shares of the media conglomerate’s stock valued at $324,489,000 after buying an additional 1,279,449 shares during the last quarter. 79.19% of the stock is owned by institutional investors and hedge funds.
Time Warner (NYSE:TWX) last issued its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.14. The business had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $7.29 billion. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.29 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be given a $0.4025 dividend. This represents a $1.61 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Friday, October 6th. Time Warner’s payout ratio is 29.98%.
A number of equities research analysts recently commented on TWX shares. BidaskClub lowered Time Warner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Royal Bank Of Canada reissued a “hold” rating and issued a $108.00 price target on shares of Time Warner in a research report on Friday, July 14th. BMO Capital Markets reissued a “hold” rating and issued a $108.00 price target on shares of Time Warner in a research report on Wednesday, September 13th. Cowen and Company reissued a “hold” rating and issued a $107.50 price target on shares of Time Warner in a research report on Thursday, August 3rd. Finally, Evercore ISI lowered Time Warner from an “outperform” rating to an “in-line” rating and set a $108.00 target price for the company. in a research report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, twenty-seven have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $102.91.
Time Warner Company 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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