Harvey Capital Management Inc Lowers stake in Time Warner Inc (TWX)

Time Warner Inc (TWX) : Harvey Capital Management Inc reduced its stake in Time Warner Inc by 5.16% during the most recent quarter end. The investment management company now holds a total of 113,300 shares of Time Warner Inc which is valued at $8,684,445 after selling 6,166 shares in Time Warner Inc , the firm said in a disclosure report filed with the SEC on Apr 19, 2016.Time Warner Inc makes up approximately 4.01% of Harvey Capital Management Inc’s portfolio.

Time Warner Inc opened for trading at $75.68 and hit $76.89 on the upside on Friday, eventually ending the session at $76.65, with a gain of 1.60% or 1.21 points. The heightened volatility saw the trading volume jump to 42,55,183 shares. Company has a market cap of $60,565 M.

Other Hedge Funds, Including , Oakbrook Investments added TWX to its portfolio by purchasing 46,850 company shares during the most recent quarter which is valued at $3,490,325. Time Warner Inc makes up approx 0.22% of Oakbrook Investments’s portfolio. Koshinski Asset Management added TWX to its portfolio by purchasing 11,109 company shares during the most recent quarter which is valued at $827,621. Time Warner Inc makes up approx 0.53% of Koshinski Asset Management’s portfolio.Lenox Wealth Advisors reduced its stake in TWX by selling 30 shares or 9.74% in the most recent quarter. The Hedge Fund company now holds 278 shares of TWX which is valued at $20,711. Time Warner Inc makes up approx 0.01% of Lenox Wealth Advisors’s portfolio.

On the company’s financial health, Time Warner Inc reported $1.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Feb 10, 2016. Analyst had a consensus of $1.01. The company had revenue of $7079.00 million for the quarter, compared to analysts expectations of $7536.20 million. The company’s revenue was down -5.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.98 EPS.

Many Wall Street Analysts have commented on Time Warner Inc. RBC Capital Mkts Initiated Time Warner Inc on Apr 8, 2016 to “Outperform”, Price Target of the shares are set at $92.Shares were Reiterated by Barclays on Feb 29, 2016 to “Equal Weight” and Lowered the Price Target to $ 76 from a previous price target of $80 .Shares were Reiterated by FBR Capital on Feb 19, 2016 to “Mkt Perform” and Lowered the Price Target to $ 73 from a previous price target of $81 .

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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