ARP Americas LP purchased a new position in shares of Time Inc (NYSE:TIME) during the 4th quarter, Holdings Channel reports. The firm purchased 49,857 shares of the company’s stock, valued at approximately $920,000.
Other large investors have also recently added to or reduced their stakes in the company. Shell Asset Management Co. bought a new stake in shares of Time during the third quarter worth about $104,000. QS Investors LLC bought a new stake in shares of Time during the second quarter worth about $184,000. Tower Research Capital LLC TRC grew its holdings in shares of Time by 111.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,283 shares of the company’s stock worth $190,000 after purchasing an additional 5,427 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Time by 48.2% during the third quarter. First Trust Advisors LP now owns 16,045 shares of the company’s stock worth $217,000 after purchasing an additional 5,217 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Time by 61.9% during the second quarter. Cubist Systematic Strategies LLC now owns 20,534 shares of the company’s stock worth $295,000 after purchasing an additional 7,849 shares during the last quarter. Institutional investors own 89.28% of the company’s stock.
Several analysts recently commented on TIME shares. Zacks Investment Research upgraded Time from a “sell” rating to a “hold” rating in a report on Saturday, November 11th. BidaskClub upgraded Time from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 14th. ValuEngine upgraded Time from a “hold” rating to a “buy” rating in a report on Thursday, November 16th. Gabelli cut Time from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Finally, Evercore ISI started coverage on Time in a report on Friday, November 17th. They issued an “outperform” rating and a $7.00 target price on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Time has an average rating of “Hold” and an average target price of $15.20.
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Time Inc is a media and content company. The Company offers a portfolio of news and lifestyle brands across a range of interest areas. The Company’s brands included People, Time, Fortune, Sports Illustrated, InStyle, Real Simple, Southern Living, Entertainment Weekly, Food & Wine, and Travel + Leisure, as well as approximately 50 titles in the United Kingdom.
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