Korea Investment Corp buys $56.3 Million stake in Time Warner Inc (TWX)

Time Warner Inc (TWX) : Korea Investment Corp scooped up 209,000 additional shares in Time Warner Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 769,173 shares of Time Warner Inc which is valued at $56.3 Million.Time Warner Inc makes up approximately 0.42% of Korea Investment Corp’s portfolio.

Other Hedge Funds, Including , Ropes Wealth Advisors boosted its stake in TWX in the latest quarter, The investment management firm added 67 additional shares and now holds a total of 263 shares of Time Warner Inc which is valued at $19,259. Time Warner Inc makes up approx 0.01% of Ropes Wealth Advisors’s portfolio.Advisor Partners reduced its stake in TWX by selling 246 shares or 1.59% in the most recent quarter. The Hedge Fund company now holds 15,246 shares of TWX which is valued at $1.1 Million. Time Warner Inc makes up approx 0.42% of Advisor Partners’s portfolio. Baker Ellis Asset Management added TWX to its portfolio by purchasing 1,500 company shares during the most recent quarter which is valued at $109,845. Time Warner Inc makes up approx 0.04% of Baker Ellis Asset Management’s portfolio.Exane Derivatives boosted its stake in TWX in the latest quarter, The investment management firm added 202,309 additional shares and now holds a total of 204,049 shares of Time Warner Inc which is valued at $15.3 Million. Time Warner Inc makes up approx 2.73% of Exane Derivatives’s portfolio.

Time Warner Inc opened for trading at $71.84 and hit $73.24 on the upside on Friday, eventually ending the session at $72.8, with a gain of 1.69% or 1.21 points. The heightened volatility saw the trading volume jump to 39,48,237 shares. Company has a market cap of $57,250 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.

Investors should note that on Apr 28, 2016, Time Warner Inc announced a cash dividend of $0.4025. The company’s management has announced May 26, 2016 as the ex-dividend date and fixed the record date on May 31, 2016. The payable date has been fixed on Jun 15, 2016.

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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