Short Interest Update on Time (TIME)

Time (TIME) : The bears are holding on to their shorts in Accenture Plc with 5 more days remaining for them to cover their positions. The bearish positions have increased from 6,352,972 on Jul 29, 2016, to 6,450,796, on August 15, 2016. Daily, 1,246,886 shares are traded, which shows the high interest of the traders in the stock. The net addition of short open interest is 97,824 shares, which is an increase of just 1.5%. The total short interest of 6.4% of the float indicates that there arent many bears on this stock at the current prices. The short interest information was released on Wednesday Aug 24th after the market close.

Time (NYSE:TIME): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $14.31 and $14.21 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $14.61. The buying momentum continued till the end and the stock did not give up its gains. It closed at $14.35, notching a gain of 0.63% for the day. The total traded volume was 751,066 . The stock had closed at $14.26 on the previous day.


In a related news, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of Time Inc., Bell David Arthur had purchased shares worth of $75,300 in a transaction dated on May 9, 2016. A total of 5,000 shares were purchased at a price of $15.06 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

Time Inc. is a media company. The Companys brands include People, Sports Illustrated, InStyle, Time, Real Simple, Southern Living, Entertainment Weekly, Travel + Leisure, Cooking Light, Fortune and Food & Wine, as well as approximately 50 titles in the United Kingdom, such as Decanter and Horse & Hound. The Company is engaged in celebrated events and franchises, including the Fortune 500, Time 100, Peoples Sexiest Man Alive, Sports Illustrateds Sportsman of the Year, the Food & Wine Classic in Aspen, the Essence Festival and the biennial Fortune Global Forum. It also provides content marketing, targeted local print and digital advertising programs, book publishing and marketing and support services, including subscription sales services for magazines and other products, retail distribution and marketing services and customer service and fulfillment services, for the Company and third-party customers, including other magazine publishers.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.