Goldman Sachs Group Inc. grew its stake in Tribune Media Co (NYSE:TRCO) by 49.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,908,497 shares of the company’s stock after buying an additional 1,287,556 shares during the period. Goldman Sachs Group Inc. owned approximately 4.48% of Tribune Media worth $165,993,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in TRCO. Manikay Partners LLC grew its stake in Tribune Media by 110.9% in the 4th quarter. Manikay Partners LLC now owns 1,915,000 shares of the company’s stock worth $81,330,000 after buying an additional 1,006,862 shares in the last quarter. Cowen Inc. grew its stake in Tribune Media by 437.4% in the 3rd quarter. Cowen Inc. now owns 1,082,227 shares of the company’s stock worth $44,220,000 after buying an additional 880,827 shares in the last quarter. Water Island Capital LLC grew its stake in Tribune Media by 63.7% in the 4th quarter. Water Island Capital LLC now owns 1,694,831 shares of the company’s stock worth $71,979,000 after buying an additional 659,725 shares in the last quarter. Pentwater Capital Management LP grew its stake in Tribune Media by 15.1% in the 4th quarter. Pentwater Capital Management LP now owns 4,450,113 shares of the company’s stock worth $188,996,000 after buying an additional 584,720 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Tribune Media in the 4th quarter valued at $17,710,000. 88.19% of the stock is owned by institutional investors and hedge funds.
Shares of Tribune Media Co (NYSE:TRCO) opened at $41.59 on Monday. Tribune Media Co has a 12 month low of $35.98 and a 12 month high of $43.71. The stock has a market cap of $3,638.88, a price-to-earnings ratio of 29.50, a PEG ratio of 6.85 and a beta of 1.36. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.91.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Monday, March 12th will be paid a $0.25 dividend. The ex-dividend date is Friday, March 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.40%. Tribune Media’s dividend payout ratio (DPR) is 46.08%.
Separately, Zacks Investment Research raised shares of Tribune Media from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $44.70.
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About Tribune Media
Tribune Media Company, through its subsidiaries, operates as a media and entertainment company in the United States. It offers news, entertainment, and sports programming through Tribune Broadcasting local television stations, including FOX television affiliates, CW Network, LLC television affiliates, CBS television affiliates, ABC television affiliates, NBC television affiliates, and independent television stations; and television series and movies on WGN America, a national general entertainment cable network.
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