Spark Investment Management LLC lifted its stake in Tribune Publishing Co (NASDAQ:TPCO) by 175.0% during the first quarter, Holdings Channel reports. The firm owned 88,900 shares of the company’s stock after purchasing an additional 56,572 shares during the period. Spark Investment Management LLC’s holdings in Tribune Publishing were worth $1,048,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC bought a new position in Tribune Publishing during the 4th quarter worth about $39,000. Great West Life Assurance Co. Can bought a new position in Tribune Publishing during the 4th quarter worth about $42,000. Legal & General Group Plc bought a new position in Tribune Publishing during the 4th quarter worth about $43,000. Metropolitan Life Insurance Co. NY bought a new position in Tribune Publishing during the 4th quarter worth about $48,000. Finally, MetLife Investment Advisors LLC bought a new position in Tribune Publishing during the 4th quarter worth about $79,000. Hedge funds and other institutional investors own 42.48% of the company’s stock.
TPCO has been the topic of several recent research reports. Zacks Investment Research cut shares of Tribune Publishing from a “buy” rating to a “hold” rating in a report on Tuesday, January 22nd. Noble Financial set a $19.00 target price on shares of Tribune Publishing and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, TheStreet cut shares of Tribune Publishing from a “c-” rating to a “d+” rating in a report on Monday.
Shares of Tribune Publishing stock opened at $10.58 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.16 and a debt-to-equity ratio of 0.29. Tribune Publishing Co has a 1 year low of $10.26 and a 1 year high of $18.75. The stock has a market cap of $379.40 million, a price-to-earnings ratio of 20.57 and a beta of 1.59.
Tribune Publishing (NASDAQ:TPCO) last issued its earnings results on Wednesday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.01). The business had revenue of $244.53 million for the quarter, compared to the consensus estimate of $235.40 million. Tribune Publishing had a return on equity of 2.63% and a net margin of 24.95%. As a group, equities research analysts forecast that Tribune Publishing Co will post 0.16 earnings per share for the current fiscal year.
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About Tribune Publishing
Tribune Publishing Company, a media company, publishes newspapers worldwide. The company operates in two segments, M and X. 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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