TheStreet Upgrades Tribune Publishing (NASDAQ:TPCO) to “C”

Tribune Publishing (NASDAQ:TPCO) was upgraded by TheStreet from a “d+” rating to a “c” rating in a note issued to investors on Friday, TheStreetRatingsTable reports.

TPCO has been the topic of several other research reports. Noble Financial set a $19.00 price target on shares of Tribune Publishing and gave the company a “buy” rating in a research note on Tuesday, August 20th. Zacks Investment Research downgraded Tribune Publishing from a “hold” rating to a “sell” rating in a research report on Friday, August 30th.

Tribune Publishing stock opened at $12.60 on Friday. The company has a 50-day simple moving average of $9.82 and a 200-day simple moving average of $8.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.98 and a current ratio of 1.01. Tribune Publishing has a one year low of $7.00 and a one year high of $15.14.

Tribune Publishing (NASDAQ:TPCO) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.42). The firm had revenue of $236.03 million during the quarter, compared to the consensus estimate of $227.90 million. Tribune Publishing had a negative net margin of 2.12% and a positive return on equity of 1.03%. On average, research analysts predict that Tribune Publishing will post 0.21 earnings per share for the current fiscal year.

In related news, major shareholder Alden Global Capital Llc bought 198,558 shares of the stock in a transaction on Monday, November 25th. The shares were purchased at an average price of $12.98 per share, with a total value of $2,577,282.84. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Michael W. Ferro, Jr. sold 23,741 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $13.00, for a total transaction of $308,633.00. The disclosure for this sale can be found here. In the last three months, insiders bought 1,176,859 shares of company stock valued at $14,581,729. Company insiders own 2.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of TPCO. Alambic Investment Management L.P. lifted its position in Tribune Publishing by 40.5% in the second quarter. Alambic Investment Management L.P. now owns 149,747 shares of the company’s stock worth $1,193,000 after purchasing an additional 43,164 shares during the period. Zebra Capital Management LLC increased its position in shares of Tribune Publishing by 12.8% during the 3rd quarter. Zebra Capital Management LLC now owns 15,971 shares of the company’s stock valued at $137,000 after purchasing an additional 1,811 shares during the period. BlackRock Inc. raised its stake in shares of Tribune Publishing by 3.8% in the 2nd quarter. BlackRock Inc. now owns 1,307,252 shares of the company’s stock worth $10,418,000 after buying an additional 48,295 shares in the last quarter. BNP Paribas Arbitrage SA bought a new stake in shares of Tribune Publishing in the 2nd quarter worth $33,000. Finally, Rhumbline Advisers raised its stake in shares of Tribune Publishing by 9.0% in the 3rd quarter. Rhumbline Advisers now owns 27,012 shares of the company’s stock worth $232,000 after buying an additional 2,238 shares in the last quarter. Institutional investors and hedge funds own 35.20% of the company’s stock.

Tribune Publishing Company Profile

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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