Time Inc. (TIME) Position Lifted by First Trust Advisors LP
First Trust Advisors LP lifted its stake in Time Inc. (NYSE:TIME) by 48.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,045 shares of the company’s stock after buying an additional 5,217 shares during the period. First Trust Advisors LP’s holdings in Time were worth $217,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of TIME. AMG Funds LLC grew its position in Time by 5.7% during the 2nd quarter. AMG Funds LLC now owns 143,337 shares of the company’s stock worth $2,057,000 after purchasing an additional 7,788 shares during the last quarter. Wells Fargo & Company MN grew its position in Time by 5.2% during the 2nd quarter. Wells Fargo & Company MN now owns 208,596 shares of the company’s stock worth $2,993,000 after purchasing an additional 10,342 shares during the last quarter. Vanguard Group Inc. grew its position in Time by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 8,687,917 shares of the company’s stock worth $124,672,000 after purchasing an additional 154,543 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in Time during the 2nd quarter worth $309,000. Finally, Strs Ohio grew its position in Time by 21.3% during the 2nd quarter. Strs Ohio now owns 71,100 shares of the company’s stock worth $1,020,000 after purchasing an additional 12,500 shares during the last quarter. 88.23% of the stock is currently owned by hedge funds and other institutional investors.
TIME has been the topic of several research reports. BidaskClub downgraded shares of Time from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Zacks Investment Research downgraded shares of Time from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Evercore ISI initiated coverage on shares of Time in a research report on Friday, November 17th. They set an “outperform” rating and a $7.00 price objective on the stock. Citigroup downgraded shares of Time from a “buy” rating to a “neutral” rating in a research report on Monday, December 4th. Finally, Morgan Stanley lowered their price objective on shares of Time from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Monday, October 23rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.00.
Time Inc. (TIME) traded up $0.05 during mid-day trading on Wednesday, hitting $18.60. 1,760,000 shares of the stock traded hands, compared to its average volume of 1,451,333. Time Inc. has a one year low of $9.90 and a one year high of $20.40. The firm has a market cap of $1,847.99, a PE ratio of 17.50, a PEG ratio of 3.54 and a beta of 1.02. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.96 and a quick ratio of 0.93.
Time (NYSE:TIME) last released its earnings results on Thursday, November 9th. The company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.08. Time had a negative net margin of 0.10% and a positive return on equity of 7.53%. The company had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $693.65 million. During the same quarter last year, the business earned $0.31 EPS. The business’s revenue was down 9.5% on a year-over-year basis. equities research analysts forecast that Time Inc. will post 1.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Wednesday, November 29th. Time’s dividend payout ratio (DPR) is presently -533.16%.
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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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