Bronson Point Management LLC purchased a new stake in Time Warner Inc (NYSE:TWX) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 150,000 shares of the media conglomerate’s stock, valued at approximately $13,721,000. Time Warner accounts for approximately 3.6% of Bronson Point Management LLC’s holdings, making the stock its 7th biggest holding.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Proxima Capital Management LLC acquired a new position in Time Warner in the fourth quarter valued at approximately $9,879,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Time Warner in the fourth quarter valued at approximately $5,074,000. Franklin Resources Inc. boosted its holdings in shares of Time Warner by 13.9% in the fourth quarter. Franklin Resources Inc. now owns 13,882,043 shares of the media conglomerate’s stock valued at $1,269,791,000 after acquiring an additional 1,695,787 shares during the period. Discovery Capital Management LLC CT acquired a new stake in shares of Time Warner in the fourth quarter valued at approximately $64,506,000. Finally, Brandywine Global Investment Management LLC boosted its holdings in shares of Time Warner by 2.9% in the fourth quarter. Brandywine Global Investment Management LLC now owns 1,104,075 shares of the media conglomerate’s stock valued at $100,990,000 after acquiring an additional 30,969 shares during the period. 80.06% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the company. Pivotal Research reissued a “buy” rating and issued a $108.00 price objective on shares of Time Warner in a report on Thursday, February 1st. ValuEngine downgraded Time Warner from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Barclays increased their price objective on Time Warner from $100.00 to $101.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Moffett Nathanson raised Time Warner from a “neutral” rating to a “buy” rating in a report on Wednesday, January 31st. Finally, Zacks Investment Research raised Time Warner from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a report on Tuesday, February 6th. Fifteen 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 an average target price of $104.15.
Time Warner (NYSE:TWX) last released its quarterly earnings results on Thursday, February 1st. The media conglomerate reported $1.60 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $8.61 billion during the quarter, compared to analysts’ expectations of $8.41 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. research analysts forecast that Time Warner Inc will post 7.56 EPS for the current fiscal year.
In other Time Warner news, insider Olaf Olafsson sold 23,450 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $90.03, for a total value of $2,111,203.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William P. Barr sold 4,019 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $97.20, for a total value of $390,646.80. Following the completion of the transaction, the director now owns 44,959 shares of the company’s stock, valued at approximately $4,370,014.80. The disclosure for this sale can be found here. Insiders have sold 31,488 shares of company stock valued at $2,878,069 in the last 90 days. Company insiders own 0.16% of the company’s stock.
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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