ProShare Advisors LLC Has $158,000 Holdings in Time Inc. (TIME)
ProShare Advisors LLC lessened its stake in shares of Time Inc. (NYSE:TIME) by 47.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,988 shares of the company’s stock after selling 9,898 shares during the quarter. ProShare Advisors LLC’s holdings in Time were worth $158,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in TIME. First Trust Advisors LP acquired a new stake in Time during the 1st quarter valued at $602,000. UBS Asset Management Americas Inc. boosted its holdings in shares of Time by 17.4% during the first quarter. UBS Asset Management Americas Inc. now owns 76,629 shares of the company’s stock worth $1,483,000 after purchasing an additional 11,365 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Time by 66.7% during the first quarter. Neuberger Berman Group LLC now owns 105,570 shares of the company’s stock worth $2,043,000 after purchasing an additional 42,237 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Time by 512.8% during the first quarter. Alliancebernstein L.P. now owns 144,731 shares of the company’s stock worth $2,801,000 after purchasing an additional 179,788 shares during the last quarter. Finally, United Services Automobile Association acquired a new stake in shares of Time during the first quarter worth $516,000. Hedge funds and other institutional investors own 89.68% of the company’s stock.
Time Inc. (NYSE TIME) opened at 12.70 on Monday. The company has a 50 day moving average price of $13.04 and a 200 day moving average price of $14.17. The stock’s market capitalization is $1.26 billion. Time Inc. has a 12 month low of $11.65 and a 12 month high of $20.40.
Time (NYSE:TIME) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.03). Time had a negative net margin of 4.34% and a positive return on equity of 7.06%. The company had revenue of $694.00 million for the quarter, compared to analysts’ expectations of $698.66 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The company’s revenue was down 9.8% on a year-over-year basis. Equities research analysts predict that Time Inc. will post $1.10 earnings per share for the current year.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research cut Time from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. BidaskClub cut Time from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, ValuEngine cut Time from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $14.67.
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Time Inc is a media and content company. The Company offers a portfolio of news and lifestyle brands across a range of interest areas. As of December 31, 2016, the Company’s brands included People, Time, Fortune, Sports Illustrated, InStyle, Real Simple, Southern Living, Entertainment Weekly, Food & Wine, Travel + Leisure and Essence, as well as approximately 50 titles in the United Kingdom.
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