Time Inc. (TIME) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in shares of Time Inc. (NYSE:TIME) by 53.8% during the first quarter, Holdings Channel reports. The firm owned 2,487,300 shares of the company’s stock after buying an additional 870,200 shares during the period. Renaissance Technologies LLC’s holdings in Time were worth $48,129,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Time during the fourth quarter worth approximately $22,934,000. Dimensional Fund Advisors LP boosted its stake in shares of Time by 14.7% in the first quarter. Dimensional Fund Advisors LP now owns 4,923,019 shares of the company’s stock worth $95,260,000 after buying an additional 631,143 shares during the period. Two Sigma Investments LP purchased a new stake in shares of Time during the fourth quarter worth approximately $7,773,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of Time during the first quarter worth approximately $7,740,000. Finally, Guggenheim Capital LLC boosted its stake in shares of Time by 164.6% in the fourth quarter. Guggenheim Capital LLC now owns 427,451 shares of the company’s stock worth $7,631,000 after buying an additional 265,909 shares during the period. 91.93% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Time (NYSE:TIME)

Shares of Time Inc. (TIME) traded down 3.080% on Wednesday, hitting $13.375. The company had a trading volume of 697,338 shares. Time Inc. has a 52 week low of $11.65 and a 52 week high of $20.40. The stock’s market capitalization is $1.33 billion. The firm’s 50 day moving average price is $13.28 and its 200-day moving average price is $17.18.

Time (NYSE:TIME) last posted its quarterly earnings results on Wednesday, May 10th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.15) by $0.03. The company had revenue of $636 million during the quarter, compared to analysts’ expectations of $641.85 million. Time had a positive return on equity of 7.30% and a negative net margin of 2.18%. The business’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.11) EPS. Analysts forecast that Time Inc. will post $1.18 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were paid a $0.04 dividend. The ex-dividend date of this dividend was Friday, May 26th. This represents a $0.16 annualized dividend and a dividend yield of 1.16%. Time’s payout ratio is currently -23.53%.

ILLEGAL ACTIVITY NOTICE: This article was first published by Mideast Time and is the sole property of of Mideast Time. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of international copyright laws. The original version of this article can be accessed at https://www.mideasttime.com/time-inc-time-shares-bought-by-renaissance-technologies-llc/1799604.html.

TIME has been the subject of a number of research reports. Zacks Investment Research raised Time from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. Stephens raised Time from an “underweight” rating to an “equal weight” rating in a research note on Monday, March 20th. Wells Fargo & Company cut Time from an “outperform” rating to a “market perform” rating in a research note on Friday, April 28th. ValuEngine cut Time from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub raised Time from a “strong sell” rating to a “sell” rating in a research note on Friday, June 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $15.33.

In related news, Director Dennis J. Fitzsimons purchased 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The shares were bought at an average price of $11.99 per share, for a total transaction of $35,970.00. Following the purchase, the director now directly owns 30,674 shares of the company’s stock, valued at approximately $367,781.26. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald S. Rolfe purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was bought at an average price of $12.85 per share, for a total transaction of $25,700.00. Following the purchase, the director now directly owns 32,147 shares in the company, valued at $413,088.95. The disclosure for this purchase can be found here. Insiders purchased a total of 6,000 shares of company stock worth $74,600 in the last 90 days. 1.92% of the stock is currently owned by company insiders.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “TIME”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding TIME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Time Inc. (NYSE:TIME).

Receive News & Ratings for Time Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Time Inc. and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply

 
© 2006-2017 Mideast Time.