Sirios Capital Management L P Cuts Holdings in Time Warner Inc. (TWX)

Sirios Capital Management L P lowered its position in shares of Time Warner Inc. (NYSE:TWX) by 90.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 120,120 shares of the media conglomerate’s stock after selling 1,163,487 shares during the quarter. Sirios Capital Management L P’s holdings in Time Warner were worth $12,061,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Stillwater Investment Management LLC raised its stake in Time Warner by 0.4% during the second quarter. Stillwater Investment Management LLC now owns 2,388 shares of the media conglomerate’s stock valued at $240,000 after buying an additional 9 shares in the last quarter. Park National Corp OH raised its stake in Time Warner by 0.6% during the second quarter. Park National Corp OH now owns 2,467 shares of the media conglomerate’s stock valued at $248,000 after buying an additional 14 shares in the last quarter. North Star Investment Management Corp. raised its stake in Time Warner by 1.1% during the second quarter. North Star Investment Management Corp. now owns 2,767 shares of the media conglomerate’s stock valued at $278,000 after buying an additional 30 shares in the last quarter. Conservest Capital Advisors Inc. raised its stake in Time Warner by 0.4% during the second quarter. Conservest Capital Advisors Inc. now owns 7,857 shares of the media conglomerate’s stock valued at $789,000 after buying an additional 31 shares in the last quarter. Finally, Connecticut Wealth Management LLC raised its stake in Time Warner by 0.8% during the first quarter. Connecticut Wealth Management LLC now owns 4,199 shares of the media conglomerate’s stock valued at $413,000 after buying an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 79.29% of the company’s stock.

Time Warner Inc. (NYSE TWX) opened at 100.20 on Monday. Time Warner Inc. has a 52 week low of $74.27 and a 52 week high of $103.34. The company has a market capitalization of $77.94 billion, a price-to-earnings ratio of 18.59 and a beta of 1.04. The firm’s 50-day moving average price is $101.62 and its 200-day moving average price is $99.55.

Time Warner (NYSE:TWX) last issued its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.14. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. The business had revenue of $7.33 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same quarter last year, the business posted $1.29 earnings per share. Time Warner’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities analysts expect that Time Warner Inc. will post $6.10 earnings per share for the current year.

In other Time Warner news, CFO Howard M. Averill bought 255 shares of the stock in a transaction on Thursday, June 15th. The stock was purchased at an average price of $99.67 per share, with a total value of $25,415.85. Following the acquisition, the chief financial officer now owns 63,399 shares of the company’s stock, valued at $6,318,978.33. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by insiders.

Several brokerages have issued reports on TWX. BidaskClub cut Time Warner from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 13th. Barclays PLC cut Time Warner from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $95.00 to $107.00 in a research note on Friday, August 4th. Jefferies Group LLC restated a “hold” rating and set a $105.00 price objective on shares of Time Warner in a research note on Sunday. Royal Bank Of Canada restated a “hold” rating and set a $108.00 price objective on shares of Time Warner in a research note on Friday, July 14th. Finally, Evercore ISI cut Time Warner from an “outperform” rating to an “in-line” rating and set a $108.00 price objective on the stock. in a research note on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $102.25.

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Time Warner Company Profile

Time Warner Inc is a media and entertainment company. The Company operates through three segments: Turner, which consists of cable networks and digital media properties; Home Box Office, which consists of premium pay television and over the top (OTT) services and premium pay, basic tier television and OTT services internationally, and Warner Bros., which consists of television, feature film, home video, and videogame production and distribution.

Institutional Ownership by Quarter for Time Warner (NYSE:TWX)

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