Time Inc. (TIME) Position Reduced by State of Tennessee Treasury Department
State of Tennessee Treasury Department decreased its position in Time Inc. (NYSE:TIME) by 5.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 89,089 shares of the company’s stock after selling 5,631 shares during the period. State of Tennessee Treasury Department owned about 0.09% of Time worth $1,203,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Shell Asset Management Co. acquired a new stake in shares of Time during the 3rd quarter valued at $104,000. Shelton Capital Management acquired a new stake in shares of Time during the 2nd quarter valued at $144,000. Riverhead Capital Management LLC boosted its stake in shares of Time by 84.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 10,343 shares of the company’s stock valued at $148,000 after buying an additional 4,743 shares during the period. Flinton Capital Management LLC boosted its stake in shares of Time by 84.9% during the 2nd quarter. Flinton Capital Management LLC now owns 10,438 shares of the company’s stock valued at $150,000 after buying an additional 4,794 shares during the period. Finally, Balter Liquid Alternatives LLC acquired a new stake in shares of Time during the 2nd quarter valued at $156,000. 90.05% of the stock is owned by hedge funds and other institutional investors.
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A number of research analysts have recently weighed in on the stock. BidaskClub downgraded shares of Time from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Gabelli downgraded shares of Time from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Zacks Investment Research upgraded shares of Time from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. ValuEngine downgraded shares of Time from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Morgan Stanley cut their price target on shares of Time from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $12.80.
Shares of Time Inc. (NYSE:TIME) traded up $0.05 on Friday, reaching $16.55. 905,800 shares of the company traded hands, compared to its average volume of 1,288,560. The company has a market cap of $1,648.74, a P/E ratio of 15.61, a PEG ratio of 3.16 and a beta of 0.62. Time Inc. has a 12-month low of $9.90 and a 12-month high of $20.40. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.88.
Time (NYSE:TIME) last announced its earnings results on Thursday, November 9th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.28 by $0.08. The firm had revenue of $679.00 million for the quarter, compared to the consensus estimate of $693.65 million. Time had a negative net margin of 0.10% and a positive return on equity of 7.53%. The business’s quarterly revenue was down 9.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. equities research analysts forecast that Time Inc. will post 1.05 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.16 annualized dividend and a yield of 0.97%. Time’s dividend payout ratio (DPR) is presently -533.16%.
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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