Canyon Capital Advisors LLC raised its stake in Time Warner Inc (NYSE:TWX) by 60.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,053,982 shares of the media conglomerate’s stock after acquiring an additional 3,398,928 shares during the period. Time Warner accounts for approximately 11.5% of Canyon Capital Advisors LLC’s portfolio, making the stock its 2nd largest position. Canyon Capital Advisors LLC owned approximately 1.16% of Time Warner worth $828,168,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Capital Wealth Advisors acquired a new position in Time Warner in the fourth quarter valued at $270,000. Lake Street Advisors Group LLC acquired a new position in Time Warner in the fourth quarter valued at $480,000. DF Dent & Co. Inc. acquired a new position in Time Warner in the fourth quarter valued at $229,000. MetLife Investment Advisors LLC acquired a new position in Time Warner in the fourth quarter valued at $22,035,000. Finally, Gotham Asset Management LLC boosted its stake in Time Warner by 57.8% in the fourth quarter. Gotham Asset Management LLC now owns 695,751 shares of the media conglomerate’s stock valued at $63,640,000 after acquiring an additional 254,710 shares in the last quarter. Institutional investors own 80.89% of the company’s stock.
Several equities analysts have issued reports on the stock. Moffett Nathanson upgraded shares of Time Warner from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 31st. Wells Fargo restated a “market perform” rating and issued a $84.00 price objective (down previously from $100.00) on shares of Time Warner in a research note on Tuesday, November 21st. Barclays upped their price objective on shares of Time Warner from $100.00 to $101.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Loop Capital assumed coverage on shares of Time Warner in a research note on Thursday. They issued a “buy” rating and a $107.50 price objective for the company. Finally, Pivotal Research reaffirmed a “buy” rating and issued a $108.00 target price on shares of Time Warner in a report on Thursday, February 1st. Fourteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $104.61.
In related news, Director Deborah C. Wright sold 4,019 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $93.61, for a total transaction of $376,218.59. Following the completion of the transaction, the director now directly owns 27,785 shares of the company’s stock, valued at $2,600,953.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.16% of the company’s stock.
Time Warner stock opened at $96.28 on Monday. The stock has a market cap of $75,084.15, a PE ratio of 14.54, a P/E/G ratio of 1.50 and a beta of 0.93. Time Warner Inc has a 1-year low of $85.88 and a 1-year high of $103.90. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.64.
Time Warner (NYSE:TWX) last posted its quarterly earnings results on Thursday, February 1st. The media conglomerate reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.16. The firm had revenue of $8.61 billion during the quarter, compared to analysts’ expectations of $8.41 billion. Time Warner had a net margin of 16.78% and a return on equity of 18.96%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 earnings per share. analysts predict that Time Warner Inc will post 7.67 EPS for the current fiscal year.
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Time Warner Profile
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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