Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Time Inc. (NYSE:TIME) by 3.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 325,314 shares of the company’s stock after acquiring an additional 11,120 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.33% of Time worth $4,668,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in TIME. Louisiana State Employees Retirement System raised its holdings in shares of Time by 2.0% during the first quarter. Louisiana State Employees Retirement System now owns 25,000 shares of the company’s stock valued at $484,000 after acquiring an additional 500 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Time by 5.7% during the first quarter. Nisa Investment Advisors LLC now owns 15,583 shares of the company’s stock valued at $302,000 after acquiring an additional 840 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Time by 1.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 35,071 shares of the company’s stock valued at $679,000 after acquiring an additional 500 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Time during the first quarter valued at approximately $104,000. Finally, Great West Life Assurance Co. Can raised its holdings in shares of Time by 4.0% during the first quarter. Great West Life Assurance Co. Can now owns 59,427 shares of the company’s stock valued at $1,146,000 after acquiring an additional 2,259 shares during the last quarter. 90.06% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on TIME. BidaskClub cut Time from a “sell” rating to a “strong sell” rating in a report on Wednesday. ValuEngine lowered Time from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Macquarie lowered Time from an “outperform” rating to a “neutral” rating and set a $15.00 price target for the company. in a research report on Thursday, June 15th. Finally, Zacks Investment Research lowered Time from a “hold” rating to a “sell” rating in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $15.40.
Shares of Time Inc. (NYSE:TIME) opened at 12.90 on Wednesday. Time Inc. has a 52-week low of $11.65 and a 52-week high of $20.40. The stock has a 50 day moving average price of $13.12 and a 200-day moving average price of $14.97. The stock’s market capitalization is $1.28 billion.
Time (NYSE:TIME) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.03). Time had a positive return on equity of 7.06% and a negative net margin of 4.34%. The company had revenue of $694.00 million for the quarter, compared to analyst estimates of $698.66 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, equities research analysts predict that Time Inc. will post $1.10 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were given a dividend of $0.04 per share. The ex-dividend date was Tuesday, August 29th. This represents a $0.16 annualized dividend and a dividend yield of 1.24%. Time’s dividend payout ratio is currently -12.31%.
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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