Time Inc (TIME) : Cumberland Partners Ltd reduced its stake in Time Inc by 10.74% during the most recent quarter end. The investment management company now holds a total of 314,125 shares of Time Inc which is valued at $5,183,063 after selling 37,800 shares in Time Inc , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Time Inc makes up approximately 0.71% of Cumberland Partners Ltd’s portfolio.
Other Hedge Funds, Including , Strs Ohio reduced its stake in TIME by selling 4,400 shares or 6.3% in the most recent quarter. The Hedge Fund company now holds 65,400 shares of TIME which is valued at $1,079,100.Carroll Financial Associates boosted its stake in TIME in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 64 shares of Time Inc which is valued at $1,061.Ct Financial Advisors reduced its stake in TIME by selling 98 shares or 94.23% in the most recent quarter. The Hedge Fund company now holds 6 shares of TIME which is valued at $98.
Time Inc opened for trading at $16.2 and hit $16.415 on the upside on Friday, eventually ending the session at $16.33, with a gain of 0.80% or 0.13 points. The heightened volatility saw the trading volume jump to 7,15,321 shares. Company has a market cap of $1,662 M.
On the company’s financial health, Time Inc reported $-0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 5, 2016. Analyst had a consensus of $-0.16. The company had revenue of $690.00 million for the quarter, compared to analysts expectations of $675.39 million. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.06 EPS.
Many Wall Street Analysts have commented on Time Inc. Macquarie Initiated Time Inc on May 19, 2016 to “Outperform”, Price Target of the shares are set at $17.
Time Inc. is a media company. The Company’s brands include People Sports Illustrated InStyle Time Real Simple Southern Living Entertainment Weekly Travel + Leisure Cooking Light Fortune and Food & Wine as well as approximately 50 titles in the United Kingdom such as Decanter and Horse & Hound. The Company is engaged in celebrated events and franchises including the Fortune 500 Time 100 People’s Sexiest Man Alive Sports Illustrated’s Sportsman of the Year the Food & Wine Classic in Aspen the Essence Festival and the biennial Fortune Global Forum. It also provides content marketing targeted local print and digital advertising programs book publishing and marketing and support services including subscription sales services for magazines and other products retail distribution and marketing services and customer service and fulfillment services for the Company and third-party customers including other magazine publishers.