Balyasny Asset Management LLC Has $62.69 Million Position in Time Warner Inc. (TWX)
Balyasny Asset Management LLC lifted its position in Time Warner Inc. (NYSE:TWX) by 2,371.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 624,375 shares of the media conglomerate’s stock after acquiring an additional 599,108 shares during the period. Balyasny Asset Management LLC owned approximately 0.08% of Time Warner worth $62,693,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Jacobi Capital Management LLC raised its holdings in Time Warner by 2.1% during the 2nd quarter. Jacobi Capital Management LLC now owns 995 shares of the media conglomerate’s stock worth $100,000 after buying an additional 20 shares during the period. Bellwether Investment Group LLC raised its holdings in Time Warner by 15.6% during the 1st quarter. Bellwether Investment Group LLC now owns 1,083 shares of the media conglomerate’s stock worth $106,000 after buying an additional 146 shares during the period. Patriot Financial Group Insurance Agency LLC raised its holdings in Time Warner by 9.9% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 1,109 shares of the media conglomerate’s stock worth $109,000 after buying an additional 100 shares during the period. Harfst & Associates Inc. raised its holdings in Time Warner by 31.6% during the 2nd quarter. Harfst & Associates Inc. now owns 1,198 shares of the media conglomerate’s stock worth $120,000 after buying an additional 288 shares during the period. Finally, Captrust Financial Advisors acquired a new stake in Time Warner during the 2nd quarter worth approximately $127,000. Institutional investors and hedge funds own 79.19% of the company’s stock.
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Time Warner Inc. (TWX) opened at 103.30 on Friday. Time Warner Inc. has a 52-week low of $78.32 and a 52-week high of $103.90. The firm’s 50-day moving average is $101.93 and its 200-day moving average is $100.16. The company has a market capitalization of $80.35 billion, a PE ratio of 19.17 and a beta of 1.02.
Time Warner (NYSE:TWX) last announced its quarterly earnings data on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.14. The firm had revenue of $7.33 billion during the quarter, compared to the consensus estimate of $7.29 billion. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 EPS. On average, equities research analysts forecast that Time Warner Inc. will post $6.10 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be paid a $0.4025 dividend. The ex-dividend date is Friday, October 6th. This represents a $1.61 dividend on an annualized basis and a yield of 1.56%. Time Warner’s dividend payout ratio (DPR) is presently 29.98%.
Several analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Time Warner in a report on Tuesday, September 26th. Jefferies Group LLC restated a “hold” rating and set a $105.00 target price (up from $102.42) on shares of Time Warner in a report on Sunday, July 30th. Evercore ISI downgraded shares of Time Warner from an “outperform” rating to an “in-line” rating and set a $108.00 target price on the stock. in a report on Monday, August 7th. Cowen and Company restated a “hold” rating and set a $107.50 target price on shares of Time Warner in a report on Thursday, August 3rd. Finally, Zacks Investment Research downgraded shares of Time Warner from a “buy” rating to a “hold” rating in a report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. Time Warner currently has an average rating of “Hold” and an average price target of $102.91.
Time Warner 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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