tronc, Inc. (TRNC) Raised to “Buy” at ValuEngine
tronc, Inc. (NASDAQ:TRNC) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday.
Other analysts also recently issued reports about the stock. Zacks Investment Research raised shares of tronc from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Wednesday, August 9th. Noble Financial reissued a “buy” rating on shares of tronc in a research note on Thursday, September 7th.
Shares of tronc (TRNC) traded down 0.74% during midday trading on Friday, hitting $14.72. The company had a trading volume of 61,020 shares. tronc has a one year low of $8.76 and a one year high of $16.80. The stock has a market capitalization of $484.18 million, a price-to-earnings ratio of 41.23 and a beta of 1.74. The stock’s 50-day moving average price is $14.47 and its 200-day moving average price is $13.37.
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A number of institutional investors have recently added to or reduced their stakes in TRNC. Dimensional Fund Advisors LP raised its holdings in shares of tronc by 100.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 286,577 shares of the company’s stock valued at $3,694,000 after purchasing an additional 143,304 shares in the last quarter. GSA Capital Partners LLP raised its holdings in shares of tronc by 47.8% in the 2nd quarter. GSA Capital Partners LLP now owns 324,781 shares of the company’s stock valued at $4,186,000 after purchasing an additional 104,976 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of tronc by 358.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 114,570 shares of the company’s stock valued at $1,477,000 after purchasing an additional 89,577 shares in the last quarter. Spark Investment Management LLC raised its holdings in shares of tronc by 405.8% in the 2nd quarter. Spark Investment Management LLC now owns 87,500 shares of the company’s stock valued at $1,127,000 after purchasing an additional 70,200 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new stake in shares of tronc in the 2nd quarter valued at about $837,000. 35.88% of the stock is owned by institutional investors.
tronc, Inc, formerly Tribune Publishing Company, is a media company. As of December 25, 2016, the Company operated over 150 titles in nine markets. Its portfolio of news and information brands are in markets, including Los Angeles and San Diego, California; Chicago, Illinois; Fort Lauderdale and Orlando, Florida; Baltimore, Maryland; Hartford, Connecticut; Allentown, Pennsylvania, and Newport News, Virginia.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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