Time Warner (TWX) Holder Water Island Capital Has Decreased Position; Pinnacle Holdings Position in Teekay Offshore Partners (TOO) Has Cut as Market Valuation Rose

June 24, 2018 - By Peter Erickson

Teekay Offshore Partners L.P. (NYSE:TOO) Logo

Pinnacle Holdings Llc decreased its stake in Teekay Offshore Partners (TOO) by 2.11% based on its latest 2018Q1 regulatory filing with the SEC. Pinnacle Holdings Llc sold 200 shares as the company’s stock rose 1.09% while stock markets declined. The hedge fund held 9,257 shares of the marine transportation company at the end of 2018Q1, valued at $21.01 million, down from 9,457 at the end of the previous reported quarter. Pinnacle Holdings Llc who had been investing in Teekay Offshore Partners for a number of months, seems to be less bullish one the $1.10 billion market cap company. The stock increased 2.77% or $0.07 during the last trading session, reaching $2.6. About 174,397 shares traded. Teekay Offshore Partners L.P. (NYSE:TOO) has declined 17.07% since June 24, 2017 and is downtrending. It has underperformed by 29.64% the S&P500. Some Historical TOO News: 03/05/2018 – Teekay Offshore Partners Announces Management Change; 10/05/2018 – Teekay Offshore Partners Announces First Oil and Contract Start-up for the Petrojarl l FPSO; 03/05/2018 – CORRECT: TEEKAY: DAVID WONG STEPPING DOWN AS OFFSHORE GROUP CFO; 03/05/2018 – TEEKAY OFFSHORE PARTNERS LP TOO.N SAYS CFO DAVID WONG RESIGNED; 10/05/2018 – TEEKAY OFFSHORE PARTNERS – PETROJARL l FLOATING PRODUCTION, STORAGE AND OFFLOADING UNIT HAS COMMENCED A FIVE-YEAR CHARTER CONTRACT; 10/05/2018 – Teekay Offshore Partners Announces First Oil and Contract Start-up for the Petrojarl I FPSO; 10/05/2018 – TEEKAY OFFSHORE: PETROJARL I FPSO STARTS 5-YR CHARTER CONTRACT; 10/05/2018 – TEEKAY OFFSHORE PARTNERS: PETROJARL I FPSO ACHIEVES FIRST OIL; 17/05/2018 – TEEKAY OFFSHORE PARTNERS LP TOO.N – QTRLY GAAP REVENUES $323.2 MLN VS $276.1 MLN LAST YEAR; 10/05/2018 – TEEKAY OFFSHORE PARTNERS – PETROJARL l FPSO UNIT COMMENCED THE 5-YR CHARTER CONTRACT WITH A CONSORTIUM LED BY QUEIROZ GALVÃO EXPLORAÇÃO E PRODUÇÃO SA

John Orrico decreased its stake in Time Warner Inc (TWX) by 97.36% based on its latest 2018Q1 regulatory filing with the SEC. Water Island Capital Llc sold 923,759 shares as the company’s stock declined 1.16% with the market. The hedge fund run by John Orrico held 25,000 shares of the television services company at the end of 2018Q1, valued at $2.37M, down from 948,759 at the end of the previous reported quarter. Water Island Capital Llc who had been investing in Time Warner Inc for a number of months, seems to be less bullish one the $77.27 billion market cap company. It closed at $98.77 lastly. It is down 5.23% since June 24, 2017 and is downtrending. It has underperformed by 17.80% the S&P500. Some Historical TWX News: 24/05/2018 – TIME WARNER’S VIDEO ON-DEMAND SERVICE LAUNCHES IN FRANCE, SPAIN; 20/04/2018 – AT&T Rests Case in Time Warner Deal Suit – And Debut New Product; 13/03/2018 – TWX, T: Latest twist in DOJ-AT&T case: The government does want AT&T to submit its arbitration offer as evidence. – ! $TWX $T; 16/04/2018 – AT&T, U.S. Clash Over No-Blackout Offer at Time Warner Trial; 06/04/2018 – AT&T Bond Exchange Offer Makes Small Dent in TWX Debt Costs: BI; 26/04/2018 – Time Warner Earnings Beat Expectations, But Warner Bros. Revenue Slips — MarketWatch; 14/05/2018 – Ascend Capital Adds Time Warner, Exits AT&T, Cuts Mylan: 13F; 26/04/2018 – Time Warner 1Q Turner Revenue $3.34B; 06/04/2018 – CBS nominates former Time Warner CEO to its board amid Viacom talks; 30/04/2018 – Judge in AT&T-Time Warner Case Sets June 12 Hearing to Announce Ruling on Deal

Water Island Capital Llc, which manages about $3.48B and $2.50B US Long portfolio, upped its stake in Dynegy Inc New Del (NYSE:DYN) by 1.64 million shares to 2.62 million shares, valued at $35.48M in 2018Q1, according to the filing. It also increased its holding in Aetna Inc New (NYSE:AET) by 143,006 shares in the quarter, for a total of 293,793 shares, and has risen its stake in United Technologies Corp (Put).

Investors sentiment increased to 0.98 in Q1 2018. Its up 0.07, from 0.91 in 2017Q4. It improved, as 68 investors sold TWX shares while 336 reduced holdings. 98 funds opened positions while 299 raised stakes. 589.17 million shares or 1.52% less from 598.25 million shares in 2017Q4 were reported. Seabridge Invest Advsr Limited Liability Company invested 0.81% of its portfolio in Time Warner Inc. (NYSE:TWX). Commerzbank Aktiengesellschaft Fi has 35,747 shares. Omers Administration Corp invested in 321,800 shares or 0.3% of the stock. The Louisiana-based Louisiana State Employees Retirement Sys has invested 0.21% in Time Warner Inc. (NYSE:TWX). Lombard Odier Asset Mngmt (Usa) invested in 105,958 shares. Moors & Cabot Incorporated has invested 0.09% in Time Warner Inc. (NYSE:TWX). 53 are owned by First Interstate Fincl Bank. Endurance Wealth Mgmt Incorporated accumulated 1,156 shares or 0.02% of the stock. Exxonmobil Investment Incorporated Tx, Texas-based fund reported 119,387 shares. Manchester Cap Mngmt Ltd Liability Com has invested 0.04% in Time Warner Inc. (NYSE:TWX). Eubel Brady And Suttman Asset Mngmt stated it has 3,747 shares. Highlander Mngmt Limited Liability Corporation invested 0.26% in Time Warner Inc. (NYSE:TWX). Meiji Yasuda Life Insurance reported 21,410 shares stake. Brown Advisory accumulated 33,377 shares. Rhumbline Advisers invested 0.27% of its portfolio in Time Warner Inc. (NYSE:TWX).

Since February 5, 2018, it had 0 insider purchases, and 2 selling transactions for $766,866 activity. BARR WILLIAM P sold $390,647 worth of stock.

More notable recent Time Warner Inc. (NYSE:TWX) news were published by: Seekingalpha.com which released: “Why I Am Acquiring More AT&T” on June 19, 2018, also Seekingalpha.com with their article: “To T Or Not To T, That Is The Question” published on June 22, 2018, Seekingalpha.com published: “AT&T: The Clock Is Ticking” on May 30, 2018. More interesting news about Time Warner Inc. (NYSE:TWX) were released by: Seekingalpha.com and their article: “Wall Street Breakfast: China Labels It A ‘Trade War'” published on June 19, 2018 as well as Seekingalpha.com‘s news article titled: “Stocks To Watch: Focus On E3, IHOP/b And The World Cup” with publication date: June 09, 2018.

Among 41 analysts covering Time Warner Inc. (NYSE:TWX), 15 have Buy rating, 0 Sell and 26 Hold. Therefore 37% are positive. Time Warner Inc. had 129 analyst reports since August 6, 2015 according to SRatingsIntel. The stock has “Hold” rating by Jefferies on Thursday, September 7. The stock has “Outperform” rating by Macquarie Research on Friday, September 11. The stock of Time Warner Inc. (NYSE:TWX) earned “Overweight” rating by Barclays Capital on Wednesday, October 26. The rating was maintained by Guggenheim with “Buy” on Thursday, February 1. Barclays Capital maintained it with “Overweight” rating and $101 target in Friday, February 2 report. The stock of Time Warner Inc. (NYSE:TWX) has “Strong-Buy” rating given on Tuesday, August 11 by Vetr. Pivotal Research maintained the stock with “Buy” rating in Wednesday, November 4 report. The stock has “Mkt Perform” rating by FBR Capital on Friday, February 19. The firm has “Hold” rating given on Monday, February 5 by Cowen & Co. Bank of America downgraded the shares of TWX in report on Thursday, November 5 to “Neutral” rating.

Analysts await Time Warner Inc. (NYSE:TWX) to report earnings on August, 1. They expect $1.58 EPS, up 18.80% or $0.25 from last year’s $1.33 per share. TWX’s profit will be $1.24 billion for 15.63 P/E if the $1.58 EPS becomes a reality. After $2.28 actual EPS reported by Time Warner Inc. for the previous quarter, Wall Street now forecasts -30.70% negative EPS growth.

Investors sentiment increased to 1.11 in Q1 2018. Its up 0.32, from 0.79 in 2017Q4. It improved, as 10 investors sold TOO shares while 18 reduced holdings. 11 funds opened positions while 20 raised stakes. 311.05 million shares or 321.41% more from 73.81 million shares in 2017Q4 were reported. Fincl Bank Of America Corporation De invested in 21,697 shares or 0% of the stock. Hbk LP holds 31,500 shares or 0% of its portfolio. Arrow Investment Advisors Ltd Liability Corporation reported 0.19% stake. Goldman Sachs Gp Inc reported 0% stake. Pinnacle Limited Liability Com accumulated 0% or 9,257 shares. Cannell Peter B Co reported 545,000 shares. Van Eck Assocs has 0.01% invested in Teekay Offshore Partners L.P. (NYSE:TOO). Royal Financial Bank Of Canada has 1,850 shares for 0% of their portfolio. Retail Bank Of New York Mellon Corp owns 0% invested in Teekay Offshore Partners L.P. (NYSE:TOO) for 13,689 shares. Peak6 Invests LP stated it has 4,626 shares or 0% of all its holdings. Silver Capital Management Llc has invested 2.24% in Teekay Offshore Partners L.P. (NYSE:TOO). Gsa Cap Ptnrs Llp invested in 0.01% or 53,683 shares. Key Hldgs (Cayman) Limited reported 8,000 shares. Millennium Management Ltd Liability holds 0% of its portfolio in Teekay Offshore Partners L.P. (NYSE:TOO) for 13,714 shares. 177,047 are held by Parallax Volatility Advisers Ltd Partnership.

Pinnacle Holdings Llc, which manages about $720.48M and $266.95 billion US Long portfolio, upped its stake in Nike (NYSE:NKE) by 2,905 shares to 19,386 shares, valued at $1.29B in 2018Q1, according to the filing. It also increased its holding in A T & T (NYSE:T) by 181 shares in the quarter, for a total of 5,033 shares, and has risen its stake in Pfizer (NYSE:PFE).

Analysts await Teekay Offshore Partners L.P. (NYSE:TOO) to report earnings on August, 2. They expect $0.02 EPS, down 71.43% or $0.05 from last year’s $0.07 per share. TOO’s profit will be $8.42M for 32.50 P/E if the $0.02 EPS becomes a reality. After $0.01 actual EPS reported by Teekay Offshore Partners L.P. for the previous quarter, Wall Street now forecasts 100.00% EPS growth.

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