Gamco Investors INC. ET AL grew its stake in shares of Tribune (NYSE:TRCO) by 62.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,055,246 shares of the company’s stock after purchasing an additional 790,707 shares during the period. Gamco Investors INC. ET AL’s holdings in Tribune were worth $78,983,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Royal Bank of Canada boosted its position in shares of Tribune by 813.2% during the 1st quarter. Royal Bank of Canada now owns 2,977 shares of the company’s stock worth $121,000 after purchasing an additional 2,651 shares in the last quarter. NumerixS Investment Technologies Inc boosted its position in shares of Tribune by 170.1% during the 2nd 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. NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Tribune during the 2nd quarter worth $230,000. Sphinx Trading LP purchased a new stake in shares of Tribune in the 2nd quarter worth about $249,000. Finally, Standard Life Aberdeen plc purchased a new stake in shares of Tribune in the 2nd quarter worth about $267,000. Institutional investors own 94.16% of the company’s stock.
TRCO has been the topic of several recent research reports. Stephens lowered shares of Tribune from an “overweight” rating to an “equal” rating and decreased their price objective for the stock from $41.00 to $37.00 in a research report on Thursday, July 19th. ValuEngine upgraded shares of Tribune from a “sell” rating to a “hold” rating in a research report on Thursday, October 18th. Wells Fargo & Co decreased their price objective on shares of Tribune from $42.00 to $36.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 18th. Zacks Investment Research upgraded shares of Tribune from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective on the stock in a research report on Tuesday, September 25th. Finally, Evercore ISI initiated coverage on shares of Tribune in a research report on Tuesday, July 31st. They issued a “buy” rating and a $40.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $40.20.
Tribune stock opened at $38.52 on Tuesday. Tribune has a 52 week low of $31.61 and a 52 week high of $43.71. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.24 and a current ratio of 3.24. The stock has a market capitalization of $3.37 billion, a P/E ratio of 27.32 and a beta of 1.06.
Tribune (NYSE:TRCO) last released its quarterly earnings data on Thursday, August 9th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.59 by $0.40. Tribune had a net margin of 28.61% and a return on equity of 7.18%. The business had revenue of $489.36 million for the quarter, compared to analyst estimates of $483.10 million. During the same period in the previous year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. Analysts forecast that Tribune will post 3.1 EPS for the current fiscal year.
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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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