Cheyne Capital Management UK LLP lessened its stake in Time Warner (NYSE:TWX) by 4.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 252,013 shares of the media conglomerate’s stock after selling 11,500 shares during the period. Time Warner comprises about 10.8% of Cheyne Capital Management UK LLP’s holdings, making the stock its 2nd largest holding. Cheyne Capital Management UK LLP’s holdings in Time Warner were worth $23,858,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TWX. First Trust Advisors LP raised its position in Time Warner by 26.5% during the 4th quarter. First Trust Advisors LP now owns 16,514 shares of the media conglomerate’s stock valued at $1,511,000 after purchasing an additional 3,464 shares during the last quarter. Investors Research Corp bought a new position in Time Warner during the 4th quarter valued at approximately $378,000. Opera Trading Capital bought a new position in Time Warner during the 4th quarter valued at approximately $889,000. MUFG Securities EMEA plc raised its position in Time Warner by 42.9% during the 4th quarter. MUFG Securities EMEA plc now owns 650,000 shares of the media conglomerate’s stock valued at $59,456,000 after purchasing an additional 195,000 shares during the last quarter. Finally, Canyon Capital Advisors LLC raised its position in Time Warner by 60.1% during the 4th quarter. Canyon Capital Advisors LLC now owns 9,053,982 shares of the media conglomerate’s stock valued at $828,168,000 after purchasing an additional 3,398,928 shares during the last quarter. 78.99% of the stock is owned by institutional investors.
Shares of Time Warner opened at $94.26 on Friday, MarketBeat.com reports. Time Warner has a 52-week low of $85.88 and a 52-week high of $103.90. The company has a market capitalization of $73.87 billion, a PE ratio of 14.68, a PEG ratio of 1.76 and a beta of 0.87. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 1.01.
Time Warner (NYSE:TWX) last announced its earnings results on Thursday, April 26th. The media conglomerate reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.54. The firm had revenue of $8 billion during the quarter, compared to analyst estimates of $7.93 billion. Time Warner had a return on equity of 19.99% and a net margin of 17.33%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.66 EPS. equities research analysts forecast that Time Warner will post 8.09 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th were paid a $0.4025 dividend. The ex-dividend date was Monday, April 9th. This represents a $1.61 annualized dividend and a dividend yield of 1.71%. This is an increase from Time Warner’s previous quarterly dividend of $0.32. Time Warner’s dividend payout ratio is presently 25.08%.
A number of research analysts have commented on the company. Pivotal Research lowered Time Warner from a “buy” rating to a “hold” rating and lowered their price target for the company from $108.00 to $105.00 in a research report on Tuesday, April 17th. Barrington Research reaffirmed a “buy” rating on shares of Time Warner in a research report on Tuesday, April 17th. ValuEngine lowered Time Warner from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Loop Capital assumed coverage on Time Warner in a research report on Thursday, March 15th. They set a “buy” rating and a $107.50 price target for the company. Finally, Barclays upped their price target on Time Warner from $100.00 to $101.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Sixteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $104.19.
Time Warner Company Profile
Time Warner Inc operates as a media and entertainment company in the United States and internationally. It operates through three segments: Turner, Home Box Office, and Warner Bros. The Turner segment creates and programs branded news, entertainment, sports, and kids multi-platform content for consumers.
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