Driehaus Capital Management LLC cut its holdings in shares of Time Warner Inc (NYSE:TWX) by 98.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,134 shares of the media conglomerate’s stock after selling 213,001 shares during the quarter. Driehaus Capital Management LLC’s holdings in Time Warner were worth $378,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in TWX. Abrams Capital Management L.P. purchased a new position in Time Warner during the 4th quarter valued at about $272,639,000. Cowen Inc. boosted its holdings in Time Warner by 833.4% during the 3rd quarter. Cowen Inc. now owns 2,576,195 shares of the media conglomerate’s stock valued at $263,933,000 after acquiring an additional 2,300,205 shares during the period. Amundi Pioneer Asset Management Inc. boosted its holdings in Time Warner by 57.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 5,407,088 shares of the media conglomerate’s stock valued at $494,586,000 after acquiring an additional 1,962,423 shares during the period. Janus Henderson Group PLC boosted its holdings in Time Warner by 49.2% during the 3rd quarter. Janus Henderson Group PLC now owns 3,240,057 shares of the media conglomerate’s stock valued at $331,940,000 after acquiring an additional 1,068,229 shares during the period. Finally, Columbus Hill Capital Management L.P. boosted its holdings in Time Warner by 288.9% during the 4th quarter. Columbus Hill Capital Management L.P. now owns 994,948 shares of the media conglomerate’s stock valued at $91,008,000 after acquiring an additional 739,090 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.
Shares of NYSE TWX traded down $0.87 during midday trading on Friday, hitting $95.52. 12,035,313 shares of the company’s stock were exchanged, compared to its average volume of 5,245,349. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.91 and a current ratio of 1.08. Time Warner Inc has a twelve month low of $85.88 and a twelve month high of $103.90. The firm has a market capitalization of $75,169.89, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.50 and a beta of 0.88.
Time Warner (NYSE:TWX) last issued its earnings results on Thursday, February 1st. The media conglomerate reported $1.60 earnings per share for the quarter, topping the 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 for the quarter, compared to analyst estimates of $8.41 billion. During the same quarter last year, the company earned $1.25 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. sell-side analysts forecast that Time Warner Inc will post 7.67 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be given a dividend of $0.4025 per share. This represents a $1.61 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Monday, April 9th. This is a positive change from Time Warner’s previous quarterly dividend of $0.32. Time Warner’s dividend payout ratio (DPR) is 25.08%.
In other news, Director William P. Barr sold 4,019 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $97.20, for a total transaction of $390,646.80. Following the sale, the director now owns 44,959 shares of the company’s stock, valued at approximately $4,370,014.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently owned by company insiders.
A number of brokerages recently commented on TWX. Loop Capital began coverage on Time Warner in a report on Thursday, March 15th. They set a “buy” rating and a $107.50 target price for the company. UBS upgraded Time Warner from a “neutral” rating to a “buy” rating and raised their target price for the company from $95.26 to $108.00 in a report on Monday, March 12th. Zacks Investment Research upgraded Time Warner from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a report on Tuesday, February 6th. Barclays raised their target price on Time Warner from $100.00 to $101.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Finally, ValuEngine cut Time Warner from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Fourteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $104.61.
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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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