Hunting Hill Global Capital LLC Takes Position in Time Warner Inc. (TWX)
Hunting Hill Global Capital LLC acquired a new position in Time Warner Inc. (NYSE:TWX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 227,300 shares of the media conglomerate’s stock, valued at approximately $22,823,000. Time Warner makes up approximately 5.9% of Hunting Hill Global Capital LLC’s holdings, making the stock its 6th largest position.
Several other hedge funds also recently bought and sold shares of the company. Assetmark Inc. increased its stake in Time Warner by 10.0% in the first quarter. Assetmark Inc. now owns 2,628 shares of the media conglomerate’s stock worth $257,000 after buying an additional 239 shares in the last quarter. Stevens First Principles Investment Advisors increased its stake in Time Warner by 52.9% in the first quarter. Stevens First Principles Investment Advisors now owns 2,127 shares of the media conglomerate’s stock worth $208,000 after buying an additional 736 shares in the last quarter. Lazard Asset Management LLC increased its stake in Time Warner by 18.3% in the first quarter. Lazard Asset Management LLC now owns 292,795 shares of the media conglomerate’s stock worth $28,608,000 after buying an additional 45,243 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Time Warner by 8.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 379,820 shares of the media conglomerate’s stock worth $37,113,000 after buying an additional 28,153 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in Time Warner by 2.4% in the first quarter. Stratos Wealth Partners LTD. now owns 4,746 shares of the media conglomerate’s stock worth $464,000 after buying an additional 110 shares in the last quarter. 79.27% of the stock is owned by institutional investors.
Shares of Time Warner Inc. (NYSE TWX) opened at 101.70 on Tuesday. Time Warner Inc. has a 52 week low of $74.27 and a 52 week high of $103.34. The stock’s 50 day moving average is $101.22 and its 200-day moving average is $99.25. The company has a market cap of $79.10 billion, a price-to-earnings ratio of 18.87 and a beta of 1.05.
Time Warner (NYSE:TWX) last issued its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.14. The company had revenue of $7.33 billion for the quarter, compared to analyst estimates of $7.29 billion. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 earnings per share. On average, equities analysts anticipate that Time Warner Inc. will post $6.10 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were paid a dividend of $0.4025 per share. The ex-dividend date was Thursday, July 6th. This represents a $1.61 dividend on an annualized basis and a yield of 1.58%. Time Warner’s dividend payout ratio (DPR) is presently 29.98%.
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A number of analysts have recently issued reports on TWX shares. Morgan Stanley reaffirmed an “overweight” rating on shares of Time Warner in a report on Thursday, July 6th. BMO Capital Markets reaffirmed a “hold” rating and set a $108.00 price objective on shares of Time Warner in a report on Friday, May 19th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $105.00 price objective on shares of Time Warner in a report on Wednesday, May 3rd. Zacks Investment Research downgraded shares of Time Warner from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $105.00 price objective (up from $102.42) on shares of Time Warner in a report on Sunday, July 30th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $102.25.
In other Time Warner news, CFO Howard M. Averill purchased 255 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were bought at an average cost of $99.67 per share, for a total transaction of $25,415.85. Following the completion of the purchase, the chief financial officer now directly owns 63,399 shares of the company’s stock, valued at $6,318,978.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by corporate insiders.
Time Warner Company 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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