Marshall Wace North America L.P. acquired a new position in shares of Tribune (NYSE:TRCO) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 677,647 shares of the company’s stock, valued at approximately $26,042,000. Marshall Wace North America L.P. owned 0.77% of Tribune at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of TRCO. Royal Bank of Canada grew its stake in shares of Tribune by 813.2% during the first quarter. Royal Bank of Canada now owns 2,977 shares of the company’s stock worth $121,000 after purchasing an additional 2,651 shares in the last quarter. NumerixS Investment Technologies Inc grew its stake in shares of Tribune by 170.1% during the second quarter. NumerixS Investment Technologies Inc now owns 3,782 shares of the company’s stock worth $144,000 after purchasing an additional 2,382 shares in the last quarter. Laurion Capital Management LP acquired a new position in shares of Tribune during the third quarter worth $207,000. NJ State Employees Deferred Compensation Plan acquired a new position in shares of Tribune during the second quarter worth $230,000. Finally, Standard Life Aberdeen plc acquired a new position in shares of Tribune during the second quarter worth $267,000. 93.71% of the stock is currently owned by institutional investors and hedge funds.
NYSE TRCO opened at $44.99 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.35 and a quick ratio of 3.35. Tribune has a 1 year low of $31.61 and a 1 year high of $45.15. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 31.91, a P/E/G ratio of 1.44 and a beta of 1.03.
Tribune (NYSE:TRCO) last released its quarterly earnings data on Friday, November 9th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.08. Tribune had a net margin of 31.69% and a return on equity of 7.72%. The company had revenue of $498.00 million during the quarter, compared to the consensus estimate of $481.79 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Tribune’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, sell-side analysts anticipate that Tribune will post 3.35 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 4th. Shareholders of record on Monday, November 19th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 16th. This represents a $1.00 annualized dividend and a yield of 2.22%. Tribune’s dividend payout ratio is presently 70.92%.
A number of equities analysts recently commented on the stock. Wolfe Research assumed coverage on shares of Tribune in a research note on Friday. They set an “underperform” rating and a $44.00 target price for the company. ValuEngine upgraded shares of Tribune from a “sell” rating to a “hold” rating in a research note on Saturday, December 1st. Zacks Investment Research downgraded shares of Tribune from a “buy” rating to a “hold” rating in a research note on Friday, November 30th. FinnCap assumed coverage on shares of Tribune in a research note on Tuesday, November 27th. They issued a “buy” rating for the company. Finally, Gabelli assumed coverage on shares of Tribune in a research note on Tuesday, November 27th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $40.67.
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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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