Advantus Capital Management Inc raised its stake in Time Inc. (NYSE:TIME) by 3.2% during the first quarter, Holdings Channel reports. The firm owned 12,700 shares of the company’s stock after buying an additional 389 shares during the period. Advantus Capital Management Inc’s holdings in Time were worth $246,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of TIME. Pacad Investment Ltd. boosted its stake in shares of Time by 42.5% in the fourth quarter. Pacad Investment Ltd. now owns 5,700 shares of the company’s stock valued at $102,000 after buying an additional 1,700 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Time during the first quarter valued at approximately $104,000. First Manhattan Co. boosted its stake in shares of Time by 1.6% in the first quarter. First Manhattan Co. now owns 7,488 shares of the company’s stock valued at $108,000 after buying an additional 118 shares during the period. Flinton Capital Management LLC acquired a new stake in shares of Time during the fourth quarter valued at approximately $115,000. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of Time during the first quarter valued at approximately $263,000. 91.93% of the stock is owned by institutional investors and hedge funds.
Shares of Time Inc. (NYSE TIME) opened at 13.75 on Wednesday. The firm has a 50 day moving average price of $13.28 and a 200-day moving average price of $17.18. The firm’s market cap is $1.37 billion. Time Inc. has a 12 month low of $11.65 and a 12 month high of $20.40.
Time (NYSE:TIME) last posted its quarterly earnings data on Wednesday, May 10th. The company reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.15) by $0.03. Time had a positive return on equity of 7.30% and a negative net margin of 2.18%. The business had revenue of $636 million for the quarter, compared to analyst estimates of $641.85 million. During the same quarter in the prior year, the company earned ($0.11) earnings per share. The company’s quarterly revenue was down 7.8% on a year-over-year basis. On average, analysts predict that Time Inc. will post $1.18 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, May 26th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.16%. Time’s dividend payout ratio is -23.53%.
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Several brokerages have recently commented on TIME. Zacks Investment Research raised Time from a “sell” rating to a “hold” rating in a research report on Friday, May 12th. Wells Fargo & Company cut Time from an “outperform” rating to a “market perform” rating in a research report on Friday, April 28th. BidaskClub raised Time from a “strong sell” rating to a “sell” rating in a research report on Friday, June 9th. Stephens raised Time from an “underweight” rating to an “equal weight” rating in a research report on Monday, March 20th. Finally, ValuEngine cut Time from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $15.33.
In other news, Director Ronald S. Rolfe bought 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was acquired at an average cost of $12.85 per share, for a total transaction of $25,700.00. Following the purchase, the director now owns 32,147 shares of the company’s stock, valued at approximately $413,088.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dennis J. Fitzsimons bought 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was purchased at an average price of $11.99 per share, with a total value of $35,970.00. Following the completion of the purchase, the director now directly owns 30,674 shares in the company, valued at approximately $367,781.26. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 6,000 shares of company stock valued at $74,600. Company insiders own 1.92% of the company’s stock.
Time Company Profile
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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