Assetmark Inc. raised its stake in shares of Tribune (NYSE:TRCO) by 6.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 213,475 shares of the company’s stock after buying an additional 12,546 shares during the period. Assetmark Inc. owned about 0.24% of Tribune worth $8,204,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in TRCO. Public Employees Retirement System of Ohio grew its position in shares of Tribune by 4.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 35,818 shares of the company’s stock valued at $1,371,000 after acquiring an additional 1,502 shares during the period. BTG Pactual Global Asset Management Ltd grew its position in shares of Tribune by 1.1% during the 2nd quarter. BTG Pactual Global Asset Management Ltd now owns 139,246 shares of the company’s stock valued at $5,329,000 after acquiring an additional 1,539 shares during the period. Visionary Asset Management Inc. grew its position in shares of Tribune by 18.2% during the 3rd quarter. Visionary Asset Management Inc. now owns 10,602 shares of the company’s stock valued at $407,000 after acquiring an additional 1,630 shares during the period. Stone Ridge Asset Management LLC grew its position in shares of Tribune by 24.9% during the 3rd quarter. Stone Ridge Asset Management LLC now owns 10,249 shares of the company’s stock valued at $394,000 after acquiring an additional 2,042 shares during the period. Finally, NumerixS Investment Technologies Inc grew its position in shares of Tribune by 170.1% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,782 shares of the company’s stock valued at $144,000 after acquiring an additional 2,382 shares during the period. Institutional investors and hedge funds own 93.71% of the company’s stock.
TRCO has been the subject of a number of recent research reports. FinnCap initiated coverage on shares of Tribune in a research report on Tuesday, November 27th. They set a “buy” rating for the company. Gabelli assumed coverage on shares of Tribune in a research report on Tuesday, November 27th. They set a “buy” rating for the company. Zacks Investment Research raised shares of Tribune from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Saturday, November 17th. Finally, ValuEngine raised shares of Tribune from a “sell” rating to a “hold” rating in a report on Saturday, December 1st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $40.00.
Shares of Tribune stock opened at $44.99 on Friday. The firm has a market capitalization of $3.93 billion, a P/E ratio of 31.91, a PEG ratio of 1.44 and a beta of 1.03. The company has a quick ratio of 3.35, a current ratio of 3.35 and a debt-to-equity ratio of 0.85. Tribune has a fifty-two week low of $31.61 and a fifty-two week high of $45.15.
Tribune (NYSE:TRCO) last issued its earnings results on Friday, November 9th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.08. The company had revenue of $498.00 million during the quarter, compared to the consensus estimate of $481.79 million. Tribune had a net margin of 31.69% and a return on equity of 7.72%. Tribune’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. On average, sell-side analysts forecast that Tribune will post 3.35 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 4th. Investors of record on Monday, November 19th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Friday, November 16th. Tribune’s dividend payout ratio is currently 70.92%.
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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, MY 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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