Citigroup Inc. raised its stake in shares of tronc Inc (NASDAQ:TRNC) by 245.5% during the 1st quarter, HoldingsChannel reports. The firm owned 8,057 shares of the company’s stock after acquiring an additional 5,725 shares during the quarter. Citigroup Inc.’s holdings in tronc were worth $133,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of TRNC. JPMorgan Chase & Co. lifted its stake in shares of tronc by 87.9% in the first quarter. JPMorgan Chase & Co. now owns 732,609 shares of the company’s stock worth $12,029,000 after buying an additional 342,634 shares in the last quarter. Mackay Shields LLC purchased a new position in shares of tronc in the first quarter worth about $2,947,000. Dimensional Fund Advisors LP lifted its stake in shares of tronc by 35.0% in the first quarter. Dimensional Fund Advisors LP now owns 585,168 shares of the company’s stock worth $9,608,000 after buying an additional 151,780 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of tronc by 37.5% in the fourth quarter. Renaissance Technologies LLC now owns 501,700 shares of the company’s stock worth $8,825,000 after buying an additional 136,700 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of tronc by 237.8% in the first quarter. American Century Companies Inc. now owns 117,582 shares of the company’s stock worth $1,931,000 after buying an additional 82,770 shares in the last quarter. 40.63% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently weighed in on TRNC. BidaskClub raised shares of tronc from a “sell” rating to a “hold” rating in a research note on Wednesday, June 20th. Zacks Investment Research raised shares of tronc from a “sell” rating to a “hold” rating in a research note on Thursday, June 7th. Noble Financial reissued a “buy” rating on shares of tronc in a research note on Tuesday, June 5th. Finally, ValuEngine downgraded shares of tronc from a “buy” rating to a “hold” rating in a research note on Wednesday, April 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $21.33.
tronc opened at $17.23 on Thursday, Marketbeat reports. The company has a current ratio of 1.38, a quick ratio of 1.33 and a debt-to-equity ratio of 2.51. The stock has a market capitalization of $610.48 million, a PE ratio of 15.95 and a beta of 1.91. tronc Inc has a twelve month low of $11.97 and a twelve month high of $24.74.
tronc (NASDAQ:TRNC) last posted its quarterly earnings results on Wednesday, May 9th. The company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.27). The business had revenue of $355.62 million during the quarter. tronc had a positive return on equity of 37.89% and a negative net margin of 0.41%. research analysts anticipate that tronc Inc will post 0.08 earnings per share for the current year.
tronc Company Profile
tronc, Inc, a media company, publishes newspapers worldwide. The company operates in two segments, troncM and troncX. It publishes daily newspapers; weekly newspapers; and digital platforms, such as Websites and mobile applications. The company also provides various digital marketing services, which include the development of mobile Websites, search engine marketing and optimization, social media account management, and content marketing for its customers' Web presence for small to medium size businesses.
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