Marshall Wace North America L.P. bought a new position in shares of Tribune (NYSE:TRCO) in the 3rd quarter, HoldingsChannel reports. The fund bought 677,647 shares of the company’s stock, valued at approximately $26,042,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Public Employees Retirement System of Ohio raised its holdings in Tribune by 4.4% during the second quarter. Public Employees Retirement System of Ohio now owns 35,818 shares of the company’s stock worth $1,371,000 after purchasing an additional 1,502 shares in the last quarter. BTG Pactual Global Asset Management Ltd raised its holdings in Tribune by 1.1% during the second quarter. BTG Pactual Global Asset Management Ltd now owns 139,246 shares of the company’s stock worth $5,329,000 after purchasing an additional 1,539 shares in the last quarter. Visionary Asset Management Inc. raised its holdings in Tribune by 18.2% during the third quarter. Visionary Asset Management Inc. now owns 10,602 shares of the company’s stock worth $407,000 after purchasing an additional 1,630 shares in the last quarter. Stone Ridge Asset Management LLC raised its holdings in Tribune by 24.9% during the third quarter. Stone Ridge Asset Management LLC now owns 10,249 shares of the company’s stock worth $394,000 after purchasing an additional 2,042 shares in the last quarter. Finally, NumerixS Investment Technologies Inc raised its holdings in 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. Institutional investors and hedge funds own 93.71% of the company’s stock.
Shares of Tribune stock opened at $44.99 on Friday. Tribune has a 12-month low of $31.61 and a 12-month high of $45.15. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.35 and a quick ratio of 3.35. The stock 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 issued its earnings results on Friday, November 9th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analysts’ expectations of $481.79 million. During the same period last year, the company posted $0.31 earnings per share. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, sell-side analysts predict that Tribune will post 3.35 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 4th. Shareholders of record on Monday, November 19th were issued a $0.25 dividend. The ex-dividend date was Friday, November 16th. This represents a $1.00 dividend on an annualized basis and a yield of 2.22%. Tribune’s dividend payout ratio (DPR) is presently 70.92%.
Several research firms recently issued reports on TRCO. Wolfe Research began coverage on shares of Tribune in a report on Friday. They set an “underperform” rating and a $44.00 price target for the company. ValuEngine raised shares of Tribune from a “sell” rating to a “hold” rating in a report on Saturday, December 1st. Zacks Investment Research cut shares of Tribune from a “buy” rating to a “hold” rating in a report on Friday, November 30th. FinnCap initiated coverage on shares of Tribune in a report on Tuesday, November 27th. They issued a “buy” rating for the company. Finally, Gabelli initiated coverage on shares of Tribune in a report on Tuesday, November 27th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company has an average 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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