Russell Investments Group Ltd. grew its holdings in Time Inc (NYSE:TIME) by 16.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,366 shares of the company’s stock after purchasing an additional 27,134 shares during the period. Russell Investments Group Ltd. owned about 0.19% of Time worth $2,570,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the business. BlackRock Inc. grew its holdings in shares of Time by 16.0% in the second quarter. BlackRock Inc. now owns 12,279,219 shares of the company’s stock worth $176,209,000 after acquiring an additional 1,696,311 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Time by 21.9% in the second quarter. Dimensional Fund Advisors LP now owns 6,001,965 shares of the company’s stock worth $86,128,000 after acquiring an additional 1,078,946 shares during the period. Fairpointe Capital LLC grew its holdings in shares of Time by 7.9% in the second quarter. Fairpointe Capital LLC now owns 10,582,963 shares of the company’s stock worth $151,866,000 after acquiring an additional 779,303 shares during the period. Thrivent Financial For Lutherans grew its holdings in shares of Time by 22.9% in the second quarter. Thrivent Financial For Lutherans now owns 3,315,419 shares of the company’s stock worth $47,576,000 after acquiring an additional 618,650 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Time by 89.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,059,728 shares of the company’s stock worth $15,208,000 after acquiring an additional 499,552 shares during the period. 87.82% of the stock is owned by institutional investors and hedge funds.
TIME has been the subject of several research analyst reports. BidaskClub raised Time from a “strong sell” rating to a “sell” rating in a report on Thursday, September 28th. Morgan Stanley cut their price objective on Time from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Monday, October 23rd. Zacks Investment Research lowered Time from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Evercore ISI assumed coverage on Time in a report on Friday, November 17th. They issued an “outperform” rating and a $7.00 price objective for the company. Finally, Citigroup downgraded Time from a “buy” rating to a “neutral” rating in a research report on Monday, December 4th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Time currently has a consensus rating of “Hold” and a consensus price target of $15.17.
Time Inc (TIME) remained flat at $$18.45 during midday trading on Thursday. 272,443 shares of the company’s stock were exchanged, compared to its average volume of 1,264,768. The company has a market capitalization of $1,840.00, a PE ratio of -922.50, a P/E/G ratio of 2.73 and a beta of 1.06. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.96 and a quick ratio of 0.93. Time Inc has a 12 month low of $9.90 and a 12 month high of $19.70.
Time (NYSE:TIME) last announced its quarterly earnings data on Thursday, November 9th. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.08. Time had a positive return on equity of 7.53% and a negative net margin of 0.10%. The business had revenue of $679.00 million for the quarter, compared to the consensus estimate of $693.65 million. During the same period in the previous year, the business earned $0.31 earnings per share. The business’s revenue was down 9.5% on a year-over-year basis. research analysts anticipate that Time Inc will post 1.06 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were given a $0.04 dividend. The ex-dividend date was Wednesday, November 29th. This represents a $0.16 annualized dividend and a dividend yield of 0.87%. Time’s payout ratio is -800.00%.
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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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