Public Employees Retirement System of Ohio purchased a new stake in Time Inc. (NYSE:TIME) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 23,816 shares of the company’s stock, valued at approximately $342,000.
Other institutional investors also recently added to or reduced their stakes in the company. Shelton Capital Management purchased a new stake in shares of Time in the 2nd quarter valued at approximately $144,000. Riverhead Capital Management LLC raised its stake in shares of Time by 84.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 10,343 shares of the company’s stock valued at $148,000 after acquiring an additional 4,743 shares during the period. Flinton Capital Management LLC raised its stake in shares of Time by 84.9% in the 2nd quarter. Flinton Capital Management LLC now owns 10,438 shares of the company’s stock valued at $150,000 after acquiring an additional 4,794 shares during the period. Balter Liquid Alternatives LLC purchased a new stake in shares of Time in the 2nd quarter valued at approximately $156,000. Finally, Brave Asset Management Inc. purchased a new stake in shares of Time in the 2nd quarter valued at approximately $160,000. 88.84% of the stock is currently owned by institutional investors and hedge funds.
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Time Inc. (NYSE TIME) opened at $12.50 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.88. The firm has a market cap of $1,135.69, a P/E ratio of 10.76, a P/E/G ratio of 2.19 and a beta of 0.62. Time Inc. has a twelve month low of $9.90 and a twelve month high of $20.40.
Time (NYSE:TIME) last announced its quarterly earnings data on Thursday, November 9th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.08. The firm had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $693.65 million. Time had a negative net margin of 0.10% and a positive return on equity of 7.53%. The business’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 earnings per share. research analysts expect that Time Inc. will post 1.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Wednesday, November 29th. Time’s dividend payout ratio (DPR) is currently -533.16%.
A number of equities research analysts have recently issued reports on the stock. BidaskClub raised shares of Time from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research raised shares of Time from a “sell” rating to a “hold” rating in a research note on Saturday. Morgan Stanley reduced their price target on shares of Time from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Monday, October 23rd. Finally, ValuEngine downgraded shares of Time from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. The company has an average rating of “Hold” and a consensus target price of $14.25.
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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