Schwab Charles Investment Management Inc. lowered its position in shares of Time Inc (NYSE:TIME) by 9.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,114,359 shares of the company’s stock after selling 117,831 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Time were worth $20,560,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Shell Asset Management Co. acquired a new position in Time during the third quarter valued at approximately $104,000. QS Investors LLC acquired a new position in Time during the second quarter valued at approximately $184,000. First Trust Advisors LP grew its holdings in Time by 48.2% during the third quarter. First Trust Advisors LP now owns 16,045 shares of the company’s stock valued at $217,000 after purchasing an additional 5,217 shares during the period. Cubist Systematic Strategies LLC grew its holdings in Time by 61.9% during the second quarter. Cubist Systematic Strategies LLC now owns 20,534 shares of the company’s stock valued at $295,000 after purchasing an additional 7,849 shares during the period. Finally, Piedmont Investment Advisors LLC acquired a new position in Time during the second quarter valued at approximately $309,000. Hedge funds and other institutional investors own 89.28% of the company’s stock.
Time Inc (NYSE TIME) opened at $18.50 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 0.88. Time Inc has a one year low of $9.90 and a one year high of $19.70. The firm has a market cap of $1,840.00, a P/E ratio of -925.00, a price-to-earnings-growth ratio of 2.73 and a beta of 1.06.
A number of brokerages recently issued reports on TIME. Gabelli cut shares of Time from a “buy” rating to a “sell” rating and set a $20.00 price objective for the company. in a report on Tuesday, November 28th. ValuEngine raised shares of Time from a “hold” rating to a “buy” rating in a research note on Thursday, November 16th. Zacks Investment Research raised shares of Time from a “hold” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a research note on Friday, January 5th. BidaskClub raised shares of Time from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 14th. Finally, Citigroup lowered shares of Time from a “buy” rating to a “neutral” rating in a research note on Monday, December 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $15.20.
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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. The Company’s brands included People, Time, Fortune, Sports Illustrated, InStyle, Real Simple, Southern Living, Entertainment Weekly, Food & Wine, and Travel + Leisure, as well as approximately 50 titles in the United Kingdom.
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