Ronald S. Rolfe Purchases 2,000 Shares of Time Inc. (TIME) Stock

Time Inc. (NYSE:TIME) Director Ronald S. Rolfe bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were acquired at an average price of $12.40 per share, with a total value of $24,800.00. Following the purchase, the director now owns 51,101 shares of the company’s stock, valued at $633,652.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of Time Inc. (TIME) traded down 0.984% during midday trading on Friday, reaching $12.575. The company’s stock had a trading volume of 118,284 shares. The company’s 50-day moving average price is $13.67 and its 200 day moving average price is $15.72. The firm’s market capitalization is $1.25 billion. Time Inc. has a 1-year low of $11.65 and a 1-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 for the quarter, missing the 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 company had revenue of $694 million during the quarter, compared to the consensus estimate of $698.66 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, equities research analysts forecast that Time Inc. will post $1.10 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.16 annualized dividend and a dividend yield of 1.26%. Time’s dividend payout ratio is currently -12.31%.

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Large investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board bought a new stake in Time during the first quarter valued at $104,000. First Manhattan Co. raised 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. Shelton Capital Management bought a new stake in Time during the second quarter valued at $144,000. Riverhead Capital Management LLC raised its stake in Time by 84.7% in the second quarter. Riverhead Capital Management LLC now owns 10,343 shares of the company’s stock valued at $148,000 after buying an additional 4,743 shares in the last quarter. Finally, Flinton Capital Management LLC raised its stake in Time by 84.9% in the second quarter. Flinton Capital Management LLC now owns 10,438 shares of the company’s stock valued at $150,000 after buying an additional 4,794 shares in the last quarter. Institutional investors own 92.86% of the company’s stock.

A number of equities research analysts have weighed in on the company. BidaskClub upgraded Time from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Zacks Investment Research upgraded Time from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. ValuEngine upgraded Time from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Finally, Wells Fargo & Company cut Time from an “outperform” rating to a “market perform” rating in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.40.

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.