Leucadia National Corp Takes Position in Time Warner Inc. (TWX)
Leucadia National Corp purchased a new stake in Time Warner Inc. (NYSE:TWX) during the first quarter, Holdings Channel reports. The firm purchased 197,575 shares of the media conglomerate’s stock, valued at approximately $19,305,000. Time Warner accounts for 1.6% of Leucadia National Corp’s portfolio, making the stock its 8th largest position.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oribel Capital Management LP raised its position in Time Warner by 55.0% in the first quarter. Oribel Capital Management LP now owns 47,900 shares of the media conglomerate’s stock valued at $4,681,000 after buying an additional 17,000 shares during the period. Mission Wealth Management LLC raised its position in Time Warner by 63.3% in the first quarter. Mission Wealth Management LLC now owns 12,096 shares of the media conglomerate’s stock valued at $1,182,000 after buying an additional 4,691 shares during the period. Banco BTG Pactual S.A. purchased a new position in Time Warner during the first quarter valued at approximately $5,951,000. Rothschild Asset Management Inc. raised its position in Time Warner by 25.9% in the first quarter. Rothschild Asset Management Inc. now owns 255,547 shares of the media conglomerate’s stock valued at $24,970,000 after buying an additional 52,497 shares during the period. Finally, Hartland & Co. LLC purchased a new position in Time Warner during the first quarter valued at approximately $247,000. 79.86% of the stock is currently owned by institutional investors.
Time Warner Inc. (NYSE TWX) opened at 99.21 on Tuesday. Time Warner Inc. has a 1-year low of $74.27 and a 1-year high of $102.45. The company has a 50-day moving average price of $99.00 and a 200 day moving average price of $97.67. The firm has a market capitalization of $76.94 billion, a price-to-earnings ratio of 18.93 and a beta of 1.05.
Time Warner (NYSE:TWX) last issued its earnings results on Wednesday, May 3rd. The media conglomerate reported $1.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.22. The business had revenue of $7.74 billion during the quarter, compared to analysts’ expectations of $7.66 billion. Time Warner had a return on equity of 19.45% and a net margin of 13.90%. Time Warner’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.49 earnings per share. Equities analysts anticipate that Time Warner Inc. will post $6.04 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th will be given a $0.4025 dividend. The ex-dividend date is Thursday, July 6th. This represents a $1.61 annualized dividend and a dividend yield of 1.62%. Time Warner’s dividend payout ratio (DPR) is presently 30.78%.
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Several research analysts have commented on the company. Royal Bank Of Canada reaffirmed a “hold” rating and set a $108.00 price target on shares of Time Warner in a research report on Friday. BidaskClub lowered Time Warner from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 13th. Zacks Investment Research raised Time Warner from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a research report on Thursday, July 13th. Morgan Stanley reaffirmed an “overweight” rating on shares of Time Warner in a research report on Thursday, July 6th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $105.00 price target on shares of Time Warner in a research report on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Time Warner currently has an average rating of “Hold” and an average price target of $100.95.
In other Time Warner news, CFO Howard M. Averill bought 255 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was acquired at an average price of $99.67 per share, with a total value of $25,415.85. Following the completion of the transaction, the chief financial officer now directly owns 63,399 shares in the company, valued at approximately $6,318,978.33. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.16% of the company’s stock.
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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