Twitter Inc (TWTR) Position Boosted by Hodges Capital Management Inc.
Hodges Capital Management Inc. increased its position in shares of Twitter Inc (NYSE:TWTR) by 33.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 179,400 shares of the social networking company’s stock after purchasing an additional 44,500 shares during the period. Hodges Capital Management Inc.’s holdings in Twitter were worth $5,899,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in TWTR. Financial Gravity Companies Inc. purchased a new stake in Twitter in the 4th quarter valued at about $27,000. JOYN Advisors Inc. boosted its position in Twitter by 258.5% in the 4th quarter. JOYN Advisors Inc. now owns 1,018 shares of the social networking company’s stock valued at $29,000 after buying an additional 734 shares during the period. Mosaic Family Wealth LLC boosted its position in Twitter by 47.3% in the 4th quarter. Mosaic Family Wealth LLC now owns 1,106 shares of the social networking company’s stock valued at $32,000 after buying an additional 355 shares during the period. Moody National Bank Trust Division boosted its position in Twitter by 92.6% in the 1st quarter. Moody National Bank Trust Division now owns 994 shares of the social networking company’s stock valued at $33,000 after buying an additional 478 shares during the period. Finally, First Financial Corp IN purchased a new stake in Twitter in the 1st quarter valued at about $33,000. 68.37% of the stock is owned by hedge funds and other institutional investors.
Several research firms have issued reports on TWTR. Zacks Investment Research raised shares of Twitter from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Thursday. Guggenheim boosted their price target on shares of Twitter from $33.00 to $41.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Cascend Securities restated a “buy” rating and issued a $45.00 price target on shares of Twitter in a report on Wednesday, March 27th. JPMorgan Chase & Co. restated a “buy” rating and issued a $44.00 price target on shares of Twitter in a report on Thursday, January 10th. Finally, Vertical Group upgraded shares of Twitter from a “hold” rating to a “buy” rating in a report on Monday, January 28th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seventeen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $35.79.
Twitter (NYSE:TWTR) last issued its quarterly earnings results on Thursday, February 7th. The social networking company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.15. The business had revenue of $908.84 million for the quarter, compared to analyst estimates of $864.87 million. Twitter had a net margin of 39.63% and a return on equity of 8.08%. Twitter’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 EPS. On average, sell-side analysts predict that Twitter Inc will post 0.46 EPS for the current fiscal year.
In other news, VP Michael Montano sold 1,250 shares of the company’s stock in a transaction on Tuesday, January 22nd. The shares were sold at an average price of $32.97, for a total value of $41,212.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Evan Clark Williams sold 682,242 shares of the company’s stock in a transaction on Wednesday, January 16th. The shares were sold at an average price of $32.88, for a total transaction of $22,432,116.96. Following the completion of the sale, the director now directly owns 1,191,144 shares in the company, valued at $39,164,814.72. The disclosure for this sale can be found here. Insiders sold a total of 1,464,431 shares of company stock worth $46,652,981 over the last ninety days. Insiders own 6.62% of the company’s stock.
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Twitter, Inc operates as a platform for public self-expression and conversation in real time. The company offers various products and services, including Twitter, a platform that allows users to consume, create, distribute, and discover content; and Periscope, a mobile application that enables user to broadcast and watch video live with others.
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