Beach Point Capital Management Lp Exits Position in Time Warner Cable Inc (TWC)

Time Warner Cable Inc (TWC) : Beach Point Capital Management Lp has sold out all of its stake in Time Warner Cable Inc during the most recent quarter, according to the disclosure filed by the company on May 11, 2016 with the SEC. The investment management company has sold out 194,042 shares of Time Warner Cable Inc which is valued at $41.8 Million.

Other Hedge Funds, Including , Artemis Investment Management Llp reduced its stake in TWC by selling 27,908 shares or 23.37% in the most recent quarter. The Hedge Fund company now holds 91,527 shares of TWC which is valued at $19.7 Million. Time Warner Cable Inc makes up approx 0.49% of Artemis Investment Management Llp’s portfolio.Gamco Investors Et Al reduced its stake in TWC by selling 32,450 shares or 19.49% in the most recent quarter. The Hedge Fund company now holds 134,084 shares of TWC which is valued at $28.6 Million. Time Warner Cable Inc makes up approx 0.19% of Gamco Investors Et Al’s portfolio.Checchi Capital Advisers reduced its stake in TWC by selling 350 shares or 11.28% in the most recent quarter. The Hedge Fund company now holds 2,753 shares of TWC which is valued at $586,829. Time Warner Cable Inc makes up approx 0.16% of Checchi Capital Advisers’s portfolio.Pitcairn Co reduced its stake in TWC by selling 250 shares or 5.21% in the most recent quarter. The Hedge Fund company now holds 4,550 shares of TWC which is valued at $965,101. Time Warner Cable Inc makes up approx 0.12% of Pitcairn Co’s portfolio.

Time Warner Cable Inc closed down -5.51 points or -2.56% at $210 with 1,18,76,087 shares getting traded on Monday. Post opening the session at $210.86, the shares hit an intraday low of $209.35 and an intraday high of $213.09 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Time Warner Cable Inc reported $1.81 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $1.76. The company had revenue of $6191.00 million for the quarter, compared to analysts expectations of $6144.90 million. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 EPS.

Many Wall Street Analysts have commented on Time Warner Cable Inc. Company shares were Reiterated by Deutsche Bank on May 12, 2016 to “Buy”, Firm has raised the Price Target to $ 240 from a previous price target of $224 .Company shares were Reiterated by Wunderlich on May 2, 2016 to “Hold”, Firm has raised the Price Target to $ 237 from a previous price target of $219 .

Time Warner Cable Inc. (TWC) is a provider of video high-speed data and voice services in the United States with clustered cable systems located in five geographic areas including New York State the Carolinas the Midwest Southern California and Texas. TWC operates in three segments: Residential Services Business Services and Other Operations. TWC offers video high-speed data and voice services as well as security and home management services to residential customers. Its video service provides over 300 channels including on average over 200 high-definition (HD) channels and 20000 video-on-demand (VOD) choices. It offers a variety of products and services to business customers including high-speed data networking voice video hosting and cloud computing services. Its Other Operations segment consists of Time Warner Cable Media (TWC Media) the advertising sales arm of TWC and its regional sports networks its local sports news and lifestyle channels and SportsNet LA.

Leave a Reply

Time Warner Cable Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on Time Warner Cable Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.