Schwab Charles Investment Management Inc. boosted its holdings in shares of tronc Inc (NASDAQ:TRNC) by 38.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 280,094 shares of the company’s stock after purchasing an additional 77,799 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.83% of tronc worth $4,070,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Dynamic Technology Lab Private Ltd increased its position in shares of tronc by 10.9% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 21,972 shares of the company’s stock valued at $283,000 after purchasing an additional 2,162 shares during the last quarter. Voya Investment Management LLC increased its position in shares of tronc by 21.7% during the 2nd quarter. Voya Investment Management LLC now owns 13,748 shares of the company’s stock valued at $177,000 after purchasing an additional 2,451 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of tronc by 11.7% during the 2nd quarter. Wells Fargo & Company MN now owns 23,927 shares of the company’s stock valued at $308,000 after purchasing an additional 2,507 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of tronc by 81.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 12,732 shares of the company’s stock valued at $184,000 after purchasing an additional 5,732 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in tronc by 27.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 26,883 shares of the company’s stock valued at $348,000 after acquiring an additional 5,791 shares during the period. 36.78% of the stock is currently owned by institutional investors.
A number of equities analysts recently issued reports on the company. ValuEngine upgraded tronc from a “hold” rating to a “buy” rating in a report on Friday, October 27th. Zacks Investment Research cut tronc from a “buy” rating to a “hold” rating in a report on Friday, December 8th. BidaskClub upgraded tronc from a “buy” rating to a “strong-buy” rating in a report on Friday, January 26th. Finally, Sidoti began coverage on tronc in a report on Wednesday, January 17th. They issued a “buy” rating and a $25.00 target price for the company. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $21.50.
Shares of tronc Inc (NASDAQ TRNC) traded down $0.68 during midday trading on Friday, hitting $19.58. The company had a trading volume of 234,156 shares, compared to its average volume of 112,210. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 4.98. The stock has a market cap of $657.85, a PE ratio of 27.19 and a beta of 1.94. tronc Inc has a 1 year low of $10.80 and a 1 year high of $21.63.
tronc (NASDAQ:TRNC) last announced its earnings results on Wednesday, November 1st. The company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.29. tronc had a return on equity of 65.52% and a net margin of 1.67%. analysts predict that tronc Inc will post 0.73 EPS for the current year.
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tronc Company Profile
tronc, Inc, formerly Tribune Publishing Company, is a media company. As of December 25, 2016, the Company operated over 150 titles in nine markets. Its portfolio of news and information brands are in markets, including Los Angeles and San Diego, California; Chicago, Illinois; Fort Lauderdale and Orlando, Florida; Baltimore, Maryland; Hartford, Connecticut; Allentown, Pennsylvania, and Newport News, Virginia.
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