Cowen Inc. reduced its holdings in Tribune Media Services (NYSE:TRCO) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,018,044 shares of the company’s stock after selling 64,183 shares during the quarter. Tribune Media Services comprises 1.7% of Cowen Inc.’s portfolio, making the stock its 10th biggest holding. Cowen Inc. owned approximately 1.17% of Tribune Media Services worth $43,236,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Cerebellum GP LLC acquired a new stake in Tribune Media Services during the fourth quarter valued at approximately $132,000. LMR Partners LLP acquired a new stake in Tribune Media Services during the third quarter valued at approximately $204,000. State of Alaska Department of Revenue bought a new position in shares of Tribune Media Services in the fourth quarter valued at approximately $212,000. Suntrust Banks Inc. bought a new position in shares of Tribune Media Services in the fourth quarter valued at approximately $255,000. Finally, Vident Investment Advisory LLC bought a new position in shares of Tribune Media Services in the third quarter valued at approximately $251,000. 87.90% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research cut shares of Tribune Media Services from a “hold” rating to a “sell” rating in a research note on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $44.10.
Shares of TRCO stock traded down $0.03 during trading hours on Friday, hitting $40.25. 798,553 shares of the company’s stock were exchanged, compared to its average volume of 433,950. Tribune Media Services has a fifty-two week low of $36.18 and a fifty-two week high of $43.71. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.98 and a quick ratio of 1.98. The company has a market cap of $3,524.26, a price-to-earnings ratio of 28.55, a PEG ratio of 9.95 and a beta of 1.32.
Tribune Media Services (NYSE:TRCO) last issued its earnings results on Thursday, March 1st. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.31. The business had revenue of $489.00 million during the quarter, compared to the consensus estimate of $488.13 million. Tribune Media Services had a return on equity of 4.13% and a net margin of 10.50%. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period last year, the company earned $0.85 EPS. analysts anticipate that Tribune Media Services will post 2.03 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 26th. Stockholders of record on Monday, March 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Friday, March 9th. Tribune Media Services’s dividend payout ratio is presently 70.92%.
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About Tribune Media Services
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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