Time Inc. (TIME) Shares Sold by Aperio Group LLC
Aperio Group LLC reduced its holdings in Time Inc. (NYSE:TIME) by 29.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,123 shares of the company’s stock after selling 10,819 shares during the quarter. Aperio Group LLC’s holdings in Time were worth $353,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. increased its stake in Time by 16.0% in the 2nd quarter. BlackRock Inc. now owns 12,279,219 shares of the company’s stock worth $176,209,000 after acquiring an additional 1,696,311 shares during the last quarter. Fairpointe Capital LLC increased its stake in Time by 7.9% in the 2nd quarter. Fairpointe Capital LLC now owns 10,582,963 shares of the company’s stock worth $151,866,000 after acquiring an additional 779,303 shares during the last quarter. Vanguard Group Inc. increased its stake in Time by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 8,687,917 shares of the company’s stock worth $124,672,000 after acquiring an additional 154,543 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Time by 21.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,001,965 shares of the company’s stock worth $86,128,000 after acquiring an additional 1,078,946 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its position in shares of Time by 22.9% during the 2nd quarter. Thrivent Financial For Lutherans now owns 3,315,419 shares of the company’s stock valued at $47,576,000 after purchasing an additional 618,650 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.
Shares of Time Inc. (NYSE TIME) traded up $0.35 during trading on Friday, hitting $16.90. The stock had a trading volume of 938,541 shares, compared to its average volume of 1,549,669. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.96 and a quick ratio of 0.93. The company has a market cap of $1,683.61, a price-to-earnings ratio of 15.94, a PEG ratio of 3.23 and a beta of 0.62. Time Inc. has a 12-month low of $9.90 and a 12-month high of $20.40.
Time (NYSE:TIME) last announced its quarterly earnings data on Thursday, November 9th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.28 by $0.08. The firm had revenue of $679.00 million for the quarter, compared to analyst estimates of $693.65 million. Time had a positive return on equity of 7.53% and a negative net margin of 0.10%. The company’s revenue was down 9.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 EPS. analysts expect that Time Inc. will post 1.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.04 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.16 annualized dividend and a dividend yield of 0.95%. Time’s dividend payout ratio (DPR) is presently -533.16%.
Several equities analysts have recently commented on TIME shares. BidaskClub upgraded Time from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. ValuEngine upgraded Time from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research upgraded Time from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Morgan Stanley reduced their price objective on Time from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Monday, October 23rd. One 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 stock presently has an average rating of “Hold” and a consensus price target of $12.80.
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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