Paulson & CO. Inc. Sells 94,700 Shares of Time Inc. (TIME)

Paulson & CO. Inc. reduced its stake in Time Inc. (NYSE:TIME) by 9.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 887,200 shares of the company’s stock after selling 94,700 shares during the quarter. Paulson & CO. Inc. owned about 0.89% of Time worth $12,731,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Advantus Capital Management Inc lifted its position in shares of Time by 3.2% in the first quarter. Advantus Capital Management Inc now owns 12,700 shares of the company’s stock valued at $246,000 after acquiring an additional 389 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its position in shares of Time by 2.8% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 17,570 shares of the company’s stock valued at $289,000 after acquiring an additional 475 shares in the last quarter. Texas Permanent School Fund lifted its position in shares of Time by 1.1% in the second quarter. Texas Permanent School Fund now owns 72,615 shares of the company’s stock valued at $1,042,000 after acquiring an additional 796 shares in the last quarter. Meeder Asset Management Inc. lifted its position in shares of Time by 3.3% in the second quarter. Meeder Asset Management Inc. now owns 44,941 shares of the company’s stock valued at $645,000 after acquiring an additional 1,430 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its position in shares of Time by 7.1% in the second quarter. Pinnacle Associates Ltd. now owns 26,932 shares of the company’s stock valued at $386,000 after acquiring an additional 1,786 shares in the last quarter. Institutional investors and hedge funds own 89.68% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Paulson & CO. Inc. Sells 94,700 Shares of Time Inc. (TIME)” was originally reported by Community Financial News and is owned by of Community Financial News. If you are accessing this story on another site, it was illegally stolen and reposted in violation of international copyright legislation. The legal version of this story can be viewed at https://www.com-unik.info/2017/10/17/paulson-co-inc-sells-94700-shares-of-time-inc-time.html.

Time Inc. (NYSE:TIME) traded down 1.97% during trading on Tuesday, reaching $12.45. The company had a trading volume of 292,848 shares. The firm’s market capitalization is $1.24 billion. The stock has a 50 day moving average price of $13.04 and a 200 day moving average price of $14.17. Time Inc. has a 12 month low of $11.65 and a 12 month high of $20.40.

Time (NYSE:TIME) last issued its earnings results on Tuesday, August 8th. The company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.03). The business had revenue of $694.00 million during the quarter, compared to analyst estimates of $698.66 million. Time had a positive return on equity of 7.06% and a negative net margin of 4.34%. The business’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period last year, the business earned $0.22 EPS. On average, equities research analysts predict that Time Inc. will post $1.10 earnings per share for the current year.

TIME has been the topic of several recent research reports. ValuEngine upgraded Time from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research upgraded Time from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, BidaskClub upgraded Time from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.67.

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.

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).

Institutional Ownership by Quarter for Time (NYSE:TIME)

What are top analysts saying about Time Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Time Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit