Abrams Capital Management L.P. Purchases 365,461 Shares of Time Warner Inc (NYSE:TWX)

Abrams Capital Management L.P. boosted its position in Time Warner Inc (NYSE:TWX) by 12.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,346,103 shares of the media conglomerate’s stock after purchasing an additional 365,461 shares during the quarter. Time Warner comprises about 9.9% of Abrams Capital Management L.P.’s holdings, making the stock its 3rd largest position. Abrams Capital Management L.P. owned 0.43% of Time Warner worth $316,474,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TWX. Assenagon Asset Management S.A. increased its stake in shares of Time Warner by 61.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 23,558 shares of the media conglomerate’s stock valued at $2,155,000 after acquiring an additional 8,947 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Time Warner by 21.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 73,860 shares of the media conglomerate’s stock worth $6,755,000 after purchasing an additional 12,854 shares during the period. BTIM Corp. grew its holdings in shares of Time Warner by 28.6% during the 4th quarter. BTIM Corp. now owns 3,150 shares of the media conglomerate’s stock worth $288,000 after purchasing an additional 700 shares during the period. Fiduciary Trust Co. grew its holdings in shares of Time Warner by 124.2% during the 4th quarter. Fiduciary Trust Co. now owns 24,200 shares of the media conglomerate’s stock worth $2,214,000 after purchasing an additional 13,406 shares during the period. Finally, Congress Asset Management Co. MA grew its holdings in shares of Time Warner by 3.4% during the 4th quarter. Congress Asset Management Co. MA now owns 50,126 shares of the media conglomerate’s stock worth $4,585,000 after purchasing an additional 1,636 shares during the period. 79.37% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on TWX shares. UBS Group upgraded Time Warner from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $95.26 to $108.00 in a report on Monday, March 12th. Loop Capital assumed 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. Pivotal Research cut Time Warner from a “buy” rating to a “hold” rating and decreased their price target for the stock from $108.00 to $105.00 in a report on Tuesday, April 17th. Barrington Research restated a “buy” rating on shares of Time Warner in a report on Tuesday, April 17th. Finally, Barclays restated a “hold” rating and issued a $98.00 price target on shares of Time Warner in a report on Monday, April 30th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $103.42.



Time Warner traded up $0.82, hitting $98.77, during trading hours on Thursday, according to Marketbeat. The company had a trading volume of 29,196,900 shares, compared to its average volume of 6,136,742. Time Warner Inc has a fifty-two week low of $85.88 and a fifty-two week high of $103.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 1.01. The firm has a market capitalization of $75.24 billion, a PE ratio of 15.38, a P/E/G ratio of 1.79 and a beta of 0.88.

Time Warner (NYSE:TWX) last issued its earnings results on Thursday, April 26th. The media conglomerate reported $2.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.54. The firm had revenue of $8 billion for the quarter, compared to analyst estimates of $7.93 billion. Time Warner had a return on equity of 19.99% and a net margin of 17.33%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the company earned $1.66 earnings per share. equities research analysts expect that Time Warner Inc will post 8.09 earnings per share for the current fiscal year.

Time Warner Company Profile

Time Warner Inc operates as a media and entertainment company in the United States and internationally. It operates through three segments: Turner, Home Box Office, and Warner Bros. The Turner segment creates and programs branded news, entertainment, sports, and kids multi-platform content for consumers.

Institutional Ownership by Quarter for Time Warner (NYSE:TWX)

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