Time (TIME) has been under a strong bear grip, hence the stock is down -12.79% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 5.6% in the past 1 week. The stock has risen by 5.57% in the past week indicating that the buyers are active at lower levels, but the stock is down -12.45% in the past 4 weeks.
Time Inc. has dropped 0.55% during the last 3-month period . Year-to-Date the stock performance stands at -8.04%. The stock has recorded a 20-day Moving Average of 4.4% and the 50-Day Moving Average is 9.68%.
Time (NYSE:TIME): The stock opened at $14.63 on Friday but the bulls could not build on the opening and the stock topped out at $14.65 for the day. The stock traded down to $14.40 during the day, due to lack of any buying support eventually closed down at $14.41 with a loss of -1.50% for the day. The stock had closed at $14.63 on the previous day. The total traded volume was 1,068,500 shares.
Also, Equity analysts at the Brokerage firm Citigroup maintains its rating on Time (NYSE:TIME). The rating major has initiated the coverage with buy rating on the shares. The Analysts at Citigroup lowers the price target from $19 per share to $18 per share. The rating by the firm was issued on August 10, 2016.
Time Inc. is a media company. The Companys 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, Peoples Sexiest Man Alive, Sports Illustrateds 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.