Guggenheim Capital LLC cut its holdings in shares of Time Warner Inc (NYSE:TWX) by 13.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 452,158 shares of the media conglomerate’s stock after selling 71,109 shares during the quarter. Guggenheim Capital LLC owned approximately 0.06% of Time Warner worth $41,359,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Bank of Nova Scotia Trust Co. purchased a new stake in shares of Time Warner during the 3rd quarter valued at $102,000. Americafirst Capital Management LLC purchased a new stake in shares of Time Warner during the 3rd quarter valued at $106,000. Zions Bancorporation increased its position in shares of Time Warner by 698.6% during the 3rd quarter. Zions Bancorporation now owns 1,142 shares of the media conglomerate’s stock valued at $117,000 after purchasing an additional 999 shares during the last quarter. Vestpro Financial Partners Inc. dba CPF Texas purchased a new stake in shares of Time Warner during the 4th quarter valued at $131,000. Finally, Highland Private Wealth Management purchased a new stake in shares of Time Warner during the 3rd quarter valued at $202,000. 80.77% of the stock is owned by hedge funds and other institutional investors.
TWX has been the subject of several research analyst reports. Pivotal Research reaffirmed a “buy” rating and set a $108.00 target price (up from $103.00) on shares of Time Warner in a research report on Tuesday, January 9th. Moffett Nathanson raised Time Warner from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 31st. Guggenheim reissued a “buy” rating on shares of Time Warner in a report on Thursday, January 4th. Zacks Investment Research raised Time Warner from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a report on Tuesday, February 6th. Finally, UBS raised Time Warner from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $95.26 to $108.00 in a report on Monday, March 12th. Fourteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Time Warner currently has a consensus rating of “Hold” and an average target price of $104.61.
Time Warner (NYSE:TWX) last posted its earnings results on Thursday, February 1st. The media conglomerate reported $1.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.16. The business had revenue of $8.61 billion during the quarter, compared to analyst estimates of $8.41 billion. Time Warner had a return on equity of 18.96% and a net margin of 16.78%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 EPS. equities research analysts expect that Time Warner Inc will post 7.67 earnings per share for the current fiscal year.
In other Time Warner news, Director William P. Barr sold 4,019 shares of Time Warner 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 completion of the transaction, the director now owns 44,959 shares of the company’s stock, valued at approximately $4,370,014.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by insiders.
About Time Warner
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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