Perry Corp Lowers stake in Time Warner Inc (TWX)

Time Warner Inc (TWX) : Perry Corp reduced its stake in Time Warner Inc by 7.45% during the most recent quarter end. The investment management company now holds a total of 888,500 shares of Time Warner Inc which is valued at $71,568,675 after selling 71,500 shares in Time Warner Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Time Warner Inc makes up approximately 6.58% of Perry Corp’s portfolio.

Other Hedge Funds, Including , Rwc Asset Management Llp sold out all of its stake in TWX during the most recent quarter. The investment firm sold 700 shares of TWX which is valued $56,385.Blackrock Institutional Trust Company N.a. reduced its stake in TWX by selling 578,003 shares or 2.65% in the most recent quarter. The Hedge Fund company now holds 21,218,165 shares of TWX which is valued at $1,709,123,191. Time Warner Inc makes up approx 0.27% of Blackrock Institutional Trust Company N.a.’s portfolio.Meyer Handelman Co reduced its stake in TWX by selling 2,861 shares or 3.74% in the most recent quarter. The Hedge Fund company now holds 73,602 shares of TWX which is valued at $5,767,453. Time Warner Inc makes up approx 0.25% of Meyer Handelman Co’s portfolio.Cypress Asset Management Inctx boosted its stake in TWX in the latest quarter, The investment management firm added 6,935 additional shares and now holds a total of 38,520 shares of Time Warner Inc which is valued at $2,999,167. Time Warner Inc makes up approx 0.58% of Cypress Asset Management Inctx’s portfolio.Eastern Bank boosted its stake in TWX in the latest quarter, The investment management firm added 72 additional shares and now holds a total of 147,541 shares of Time Warner Inc which is valued at $11,494,919. Time Warner Inc makes up approx 0.90% of Eastern Bank’s portfolio.

Time Warner Inc opened for trading at $78.96 and hit $79.56 on the upside on Monday, eventually ending the session at $79.14, with a gain of 0.38% or 0.3025 points. The heightened volatility saw the trading volume jump to 24,82,994 shares. Company has a market cap of $61,558 M.

On the company’s financial health, Time Warner Inc reported $1.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $1.16. The company had revenue of $6952.00 million for the quarter, compared to analysts expectations of $7065.42 million. The company’s revenue was down -5.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.25 EPS.

Many Wall Street Analysts have commented on Time Warner Inc. Company shares were Reiterated by Wunderlich on Aug 4, 2016 to “Buy”, Firm has raised the Price Target to $ 106 from a previous price target of $95 .Company shares were Reiterated by Wedbush on Aug 4, 2016 to “Outperform”, Firm has raised the Price Target to $ 90 from a previous price target of $88 .Company shares were Reiterated by RBC Capital Mkts on Aug 4, 2016 to “Outperform”, Firm has raised the Price Target to $ 95 from a previous price target of $92 .

Time Warner Inc. (Time Warner) is a media and entertainment company. The Company operates in three segments: Turner which consists of cable networks and digital media properties; Home Box Office which consists of domestic premium pay television services and international premium pay and basic tier television services and Warner Bros. which consists of television feature film home video and videogame production and distribution of digital and physical home entertainment products. Turner operates over 165 channels globally. In the United States its networks and related properties include TNT TBS Adult Swim truTV Turner Classic Movies Turner Sports Cartoon Network Boomerang CNN and HLN. Outside the United States Turner’s portfolio of brands and digital businesses reaches consumers in over 200 countries.

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