An issue of Time Warner Cable Inc (NYSE:TWC) bonds rose 1.5% as a percentage of their face value during trading on Thursday. The high-yield debt issue has a 5.5% coupon and is set to mature on September 1, 2041. The bonds in the issue are now trading at $93.85 and were trading at $94.02 last week. Price moves in a company’s bonds in credit markets sometimes predict parallel moves in its share price.
Shares of NYSE TWC remained flat at $$209.56 during midday trading on Thursday. Time Warner Cable Inc has a 1-year low of $155.17 and a 1-year high of $217.91.
A hedge fund recently raised its stake in Time Warner Cable stock. HighPoint Advisor Group LLC raised its stake in shares of Time Warner Cable Inc (NYSE:TWC) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,037 shares of the cable operator’s stock after acquiring an additional 303 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Time Warner Cable were worth $475,000 as of its most recent filing with the SEC.
About Time Warner Cable
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 approximately five geographic areas, including New York State, the Carolinas, the Midwest, Southern California and Texas. The Company operates through three segments: Residential Services, Business Services and Other Operations.