Deutsche Bank AG lifted its holdings in Tribune Media Co (NYSE:TRCO) by 17.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,411,778 shares of the company’s stock after purchasing an additional 205,603 shares during the period. Deutsche Bank AG owned about 1.62% of Tribune Media worth $59,955,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Gardner Lewis Asset Management L P acquired a new position in shares of Tribune Media in the 4th quarter worth approximately $4,787,000. Folger Hill Asset Management LP grew its stake in shares of Tribune Media by 44.9% in the 4th quarter. Folger Hill Asset Management LP now owns 217,368 shares of the company’s stock worth $9,232,000 after purchasing an additional 67,368 shares during the last quarter. Manikay Partners LLC grew its stake in shares of 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 purchasing an additional 1,006,862 shares during the last quarter. Highland Capital Management LP acquired a new position in shares of Tribune Media in the 4th quarter worth approximately $943,000. Finally, Beryl Capital Management LLC acquired a new position in shares of Tribune Media in the 4th quarter worth approximately $5,526,000. 88.19% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research raised shares of Tribune Media from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $44.70.
Tribune Media (NYSE:TRCO) last released its earnings results on Thursday, March 1st. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.31. The business had revenue of $489.00 million for the quarter, compared to the consensus estimate of $488.13 million. Tribune Media had a net margin of 10.50% and a return on equity of 4.13%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. research analysts expect that Tribune Media Co will post 2.03 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Monday, March 12th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Friday, March 9th. Tribune Media’s dividend payout ratio (DPR) is currently 46.08%.
Tribune Media Company Profile
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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