Perry Corp Lowers stake in Time Warner Inc (TWX)

Time Warner Inc (TWX) : Perry Corp reduced its stake in Time Warner Inc by 67.4% during the most recent quarter end. The investment management company now holds a total of 960,000 shares of Time Warner Inc which is valued at $70.3 Million after selling 1,985,000 shares in Time Warner Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.Time Warner Inc makes up approximately 4.41% of Perry Corp’s portfolio.

Other Hedge Funds, Including , Cadian Capital Management Lp reduced its stake in TWX by selling 414,750 shares or 40.66% in the most recent quarter. The Hedge Fund company now holds 605,250 shares of TWX which is valued at $44.3 Million. Time Warner Inc makes up approx 2.87% of Cadian Capital Management Lp’s portfolio.Finemark National Bank Trust reduced its stake in TWX by selling 26 shares or 0.45% in the most recent quarter. The Hedge Fund company now holds 5,746 shares of TWX which is valued at $420,780. Time Warner Inc makes up approx 0.05% of Finemark National Bank Trust’s portfolio.Rehmann Capital Advisory Group boosted its stake in TWX in the latest quarter, The investment management firm added 19 additional shares and now holds a total of 5,584 shares of Time Warner Inc which is valued at $408,916. Time Warner Inc makes up approx 0.08% of Rehmann Capital Advisory Group’s portfolio.Bank Of The West boosted its stake in TWX in the latest quarter, The investment management firm added 4,159 additional shares and now holds a total of 53,334 shares of Time Warner Inc which is valued at $4 Million. Time Warner Inc makes up approx 0.56% of Bank Of The West’s portfolio.

Time Warner Inc opened for trading at $73.18 and hit $74.05 on the upside on Wednesday, eventually ending the session at $73.36, with a gain of 0.31% or 0.23 points. The heightened volatility saw the trading volume jump to 23,29,693 shares. Company has a market cap of $57,690 M.

On the company’s financial health, Time Warner Inc reported $1.49 EPS for the quarter, beating the analyst consensus estimate by $ 0.20 according to the earnings call on May 4, 2016. Analyst had a consensus of $1.29. The company had revenue of $7308.00 million for the quarter, compared to analysts expectations of $7294.27 million. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 EPS.

Many Wall Street Analysts have commented on Time Warner Inc. Time Warner Inc was Downgraded by Pacific Crest to ” Sector Weight” on May 2, 2016. Company shares were Reiterated by MKM Partners on Apr 28, 2016 to “Buy”, Firm has raised the Price Target to $ 86 from a previous price target of $78 .Company shares were Reiterated by Telsey Advisory Group on Apr 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 91 from a previous price target of $89 .

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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