Arrowstreet Capital Limited Partnership bought a new position in Time Inc. (NYSE:TIME) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 309,400 shares of the company’s stock, valued at approximately $4,440,000. Arrowstreet Capital Limited Partnership owned about 0.31% of Time as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC lifted its holdings in Time by 53.8% in the 1st quarter. Renaissance Technologies LLC now owns 2,487,300 shares of the company’s stock worth $48,129,000 after purchasing an additional 870,200 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Time during the first quarter worth approximately $602,000. AMG Funds LLC lifted its holdings in shares of Time by 5.7% during the second quarter. AMG Funds LLC now owns 143,337 shares of the company’s stock worth $2,057,000 after buying an additional 7,788 shares during the last quarter. Advantus Capital Management Inc lifted its holdings in shares of Time by 3.2% during the first quarter. Advantus Capital Management Inc now owns 12,700 shares of the company’s stock worth $246,000 after buying an additional 389 shares during the last quarter. Finally, Strs Ohio lifted its holdings in shares of Time by 21.3% during the second quarter. Strs Ohio now owns 71,100 shares of the company’s stock worth $1,020,000 after buying an additional 12,500 shares during the last quarter. Hedge funds and other institutional investors own 89.68% of the company’s stock.
A number of research analysts have recently commented on the company. BidaskClub upgraded Time from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Zacks Investment Research upgraded Time from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Finally, ValuEngine lowered Time from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Time presently has a consensus rating of “Hold” and an average price target of $14.67.
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Time Inc. (NYSE TIME) opened at 12.70 on Tuesday. The firm’s market capitalization is $1.26 billion. The stock’s 50 day moving average price is $13.04 and its 200-day moving average price is $14.17. Time Inc. has a one year low of $11.65 and a one year high of $20.40.
Time (NYSE:TIME) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.03). Time had a negative net margin of 4.34% and a positive return on equity of 7.06%. The business had revenue of $694.00 million during the quarter, compared to analyst estimates of $698.66 million. During the same period in the previous year, the business earned $0.22 earnings per share. The business’s quarterly revenue was down 9.8% on a year-over-year basis. On average, equities research analysts expect that Time Inc. will post $1.10 EPS for the current fiscal year.
Time Company Profile
Time Inc is a media and content company. The Company offers a portfolio of news and lifestyle brands across a range of interest areas. As of December 31, 2016, the Company’s brands included People, Time, Fortune, Sports Illustrated, InStyle, Real Simple, Southern Living, Entertainment Weekly, Food & Wine, Travel + Leisure and Essence, as well as approximately 50 titles in the United Kingdom.
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