Zions Bancorporation Has $117,000 Stake in Time Warner Inc (TWX)
Zions Bancorporation increased its stake in shares of Time Warner Inc (NYSE:TWX) by 698.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,142 shares of the media conglomerate’s stock after acquiring an additional 999 shares during the period. Zions Bancorporation’s holdings in Time Warner were worth $117,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of TWX. Jacobi Capital Management LLC grew its holdings in Time Warner by 2.1% in the 2nd quarter. Jacobi Capital Management LLC now owns 995 shares of the media conglomerate’s stock valued at $100,000 after buying an additional 20 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in Time Warner by 4.0% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,153 shares of the media conglomerate’s stock valued at $116,000 after buying an additional 44 shares during the last quarter. Harfst & Associates Inc. grew its holdings in Time Warner by 31.6% in the 2nd quarter. Harfst & Associates Inc. now owns 1,198 shares of the media conglomerate’s stock valued at $120,000 after buying an additional 288 shares during the last quarter. Captrust Financial Advisors acquired a new stake in Time Warner in the 2nd quarter valued at approximately $127,000. Finally, Motco acquired a new stake in Time Warner in the 2nd quarter valued at approximately $129,000. 78.11% of the stock is currently owned by institutional investors and hedge funds.
Time Warner Inc (NYSE:TWX) traded up $0.58 during trading on Friday, hitting $90.23. The company had a trading volume of 3,532,139 shares, compared to its average volume of 4,777,230. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.48 and a quick ratio of 1.26. The company has a market cap of $70,120.09, a P/E ratio of 14.86, a PEG ratio of 1.42 and a beta of 0.95. Time Warner Inc has a 1-year low of $85.88 and a 1-year high of $103.90.
Time Warner (NYSE:TWX) last posted its earnings results on Thursday, October 26th. The media conglomerate reported $1.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.23. The business had revenue of $7.60 billion during the quarter, compared to the consensus estimate of $7.40 billion. Time Warner had a return on equity of 18.57% and a net margin of 13.59%. Time Warner’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company earned $1.83 EPS. sell-side analysts anticipate that Time Warner Inc will post 6.2 EPS for the current year.
A number of analysts have issued reports on TWX shares. Royal Bank of Canada reaffirmed a “hold” rating and issued a $102.00 target price on shares of Time Warner in a report on Friday, October 27th. B. Riley reissued a “hold” rating and set a $101.00 price objective on shares of Time Warner in a report on Tuesday, November 21st. BMO Capital Markets reissued a “hold” rating and set a $108.00 price objective on shares of Time Warner in a report on Wednesday, September 13th. KeyCorp reissued a “hold” rating on shares of Time Warner in a report on Tuesday, October 17th. Finally, raised Time Warner from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $102.00 to $103.00 in a report on Wednesday, November 15th. Twenty-three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Time Warner currently has a consensus rating of “Hold” and a consensus target price of $103.00.
In related news, CEO Jeffrey L. Bewkes sold 329,478 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $90.65, for a total transaction of $29,867,180.70. Following the completion of the transaction, the chief executive officer now owns 855,925 shares in the company, valued at approximately $77,589,601.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by company insiders.
About Time Warner
Time Warner Inc is a media and entertainment company. The Company operates through three segments: Turner, which consists of cable networks and digital media properties; Home Box Office, which consists of premium pay television and over the top (OTT) services and premium pay, basic tier television and OTT services internationally, and Warner Bros., which consists of television, feature film, home video, and videogame production and distribution.
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