Time Inc. (TIME) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC decreased its stake in Time Inc. (NYSE:TIME) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 77,417 shares of the company’s stock after selling 462 shares during the period. Gateway Investment Advisers LLC owned about 0.08% of Time worth $1,111,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in TIME. Canada Pension Plan Investment Board bought a new stake in Time during the first quarter valued at $104,000. First Manhattan Co. increased its stake in Time by 1.6% in the first quarter. First Manhattan Co. now owns 7,488 shares of the company’s stock valued at $108,000 after buying an additional 118 shares in the last quarter. Advantus Capital Management Inc increased its stake in Time by 3.2% in the first quarter. Advantus Capital Management Inc now owns 12,700 shares of the company’s stock valued at $246,000 after buying an additional 389 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in Time during the first quarter valued at approximately $263,000. Finally, KCG Holdings Inc. acquired a new stake in Time during the first quarter valued at approximately $294,000. 90.72% of the stock is currently owned by institutional investors.

Shares of Time Inc. (NYSE TIME) traded down 0.534% during mid-day trading on Tuesday, reaching $13.975. 67,557 shares of the company were exchanged. Time Inc. has a 12 month low of $11.65 and a 12 month high of $20.40. The stock has a 50 day moving average price of $13.99 and a 200-day moving average price of $16.42. The stock’s market capitalization is $1.39 billion.

Time (NYSE:TIME) last posted its quarterly earnings data on Wednesday, May 10th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.03. Time had a negative net margin of 2.18% and a positive return on equity of 7.30%. The firm had revenue of $636 million during the quarter, compared to analysts’ expectations of $641.85 million. During the same quarter last year, the business earned ($0.11) earnings per share. The business’s quarterly revenue was down 7.8% on a year-over-year basis. Analysts predict that Time Inc. will post $1.18 earnings per share for the current year.

TIME has been the topic of several recent research reports. Zacks Investment Research raised shares of Time from a “sell” rating to a “hold” rating in a report on Wednesday, April 26th. Wells Fargo & Company downgraded shares of Time from an “outperform” rating to a “market perform” rating in a report on Friday, April 28th. ValuEngine downgraded shares of Time from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub raised shares of Time from a “strong sell” rating to a “sell” rating in a report on Friday, June 9th. Finally, Macquarie downgraded shares of Time from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a report on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.33.

In other news, Director Ronald S. Rolfe acquired 2,000 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were purchased at an average cost of $12.85 per share, for a total transaction of $25,700.00. Following the transaction, the director now directly owns 32,147 shares in the company, valued at approximately $413,088.95. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dennis J. Fitzsimons acquired 3,000 shares of the stock in a transaction that occurred on Thursday, May 18th. The stock was purchased at an average price of $11.99 per share, for a total transaction of $35,970.00. Following the completion of the transaction, the director now owns 30,674 shares in the company, valued at $367,781.26. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 6,000 shares of company stock worth $74,600. 1.92% of the stock is currently owned by insiders.

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.