Cambridge Investment Research Advisors Inc. raised its position in shares of tronc Inc (NASDAQ:TRNC) by 7.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 48,161 shares of the company’s stock after acquiring an additional 3,488 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in tronc were worth $847,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in tronc by 12.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 233,099 shares of the company’s stock valued at $3,382,000 after purchasing an additional 26,299 shares during the period. American Century Companies Inc. acquired a new position in tronc during the 4th quarter valued at about $612,000. Wells Fargo & Company MN boosted its stake in tronc by 122.5% during the 3rd quarter. Wells Fargo & Company MN now owns 53,248 shares of the company’s stock valued at $773,000 after purchasing an additional 29,321 shares during the period. Citadel Advisors LLC boosted its stake in tronc by 215.8% during the 4th quarter. Citadel Advisors LLC now owns 34,582 shares of the company’s stock valued at $608,000 after purchasing an additional 23,633 shares during the period. Finally, Chicago Equity Partners LLC acquired a new position in tronc during the 4th quarter valued at about $1,151,000. 38.07% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the stock. BidaskClub raised shares of tronc from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 26th. ValuEngine raised shares of tronc from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Noble Financial lowered shares of tronc from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. They noted that the move was a valuation call. Sidoti assumed coverage on shares of tronc in a research note on Wednesday, January 17th. They set a “buy” rating and a $25.00 target price for the company. Finally, Zacks Investment Research lowered shares of tronc from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $20.67.
tronc stock opened at $15.95 on Monday. The stock has a market cap of $569.46, a price-to-earnings ratio of 14.77 and a beta of 2.00. tronc Inc has a 52-week low of $10.80 and a 52-week high of $24.74. The company has a quick ratio of 1.52, a current ratio of 1.56 and a debt-to-equity ratio of 4.80.
tronc (NASDAQ:TRNC) last issued its quarterly earnings results on Wednesday, March 7th. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.35). The company had revenue of $435.02 million during the quarter, compared to analyst estimates of $424.20 million. tronc had a return on equity of 53.46% and a net margin of 0.36%. equities analysts forecast that tronc Inc will post 0.39 EPS for the current fiscal 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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