Fmr LLC Cuts Stake in Time Inc. (NYSE:TIME)

FMR LLC cut its stake in Time Inc. (NYSE:TIME) by 85.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 158,893 shares of the company’s stock after selling 961,595 shares during the period. FMR LLC owned about 0.16% of Time worth $3,075,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Trust Advisors LP purchased a new position in shares of Time during the first quarter valued at approximately $602,000. Nisa Investment Advisors LLC increased its position in shares of Time by 5.7% in the first quarter. Nisa Investment Advisors LLC now owns 15,583 shares of the company’s stock worth $302,000 after buying an additional 840 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of Time by 4.0% in the first quarter. Great West Life Assurance Co. Can now owns 59,427 shares of the company’s stock worth $1,146,000 after buying an additional 2,259 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Time during the first quarter worth about $104,000. Finally, Gamco Investors INC. ET AL increased its position in shares of Time by 6.9% in the first quarter. Gamco Investors INC. ET AL now owns 42,932 shares of the company’s stock worth $831,000 after buying an additional 2,769 shares during the last quarter. 91.70% of the stock is currently owned by institutional investors.

Shares of Time Inc. (TIME) opened at 13.55 on Friday. The company’s market cap is $1.35 billion. Time Inc. has a one year low of $11.65 and a one year high of $20.40. The stock’s 50 day moving average is $14.02 and its 200-day moving average is $16.14.

Time (NYSE:TIME) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.16 by $0.03. The business had revenue of $694 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%. Time’s revenue was down 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.22 EPS. Equities research analysts expect that Time Inc. will post $1.14 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Tuesday, August 29th. Time’s dividend payout ratio is presently -12.31%.

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A number of research analysts have issued reports on TIME shares. Zacks Investment Research raised shares of Time from a “sell” rating to a “hold” rating in a research report on Wednesday, April 26th. Wells Fargo & Company downgraded shares of Time from an “outperform” rating to a “market perform” rating in a research report on Friday, April 28th. ValuEngine downgraded shares of Time from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub raised shares of Time from a “strong sell” rating to a “sell” rating in a research report on Friday, June 9th. Finally, Macquarie cut shares of Time from an “outperform” rating to a “neutral” rating and set a $15.00 target price on the stock. in a report on Thursday, June 15th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Time presently has a consensus rating of “Hold” and a consensus price target of $15.40.

In other Time news, Director Ronald S. Rolfe purchased 2,000 shares of the stock in a transaction on Monday, May 15th. The stock was acquired at an average price of $12.85 per share, with a total value of $25,700.00. Following the completion of the acquisition, the director now owns 32,147 shares in the company, valued at $413,088.95. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Dennis J. Fitzsimons purchased 3,000 shares of the stock in a transaction on Thursday, May 18th. The stock was acquired at an average cost of $11.99 per share, with a total value of $35,970.00. Following the acquisition, the director now owns 30,674 shares of the company’s stock, valued at approximately $367,781.26. The disclosure for this purchase can be found here. 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.

Institutional Ownership by Quarter for Time (NYSE:TIME)

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