Tribune Publishing Co. (TRNC) Sees Unusually-High Trading Volume
Tribune Publishing Co. (NASDAQ:TRNC) saw strong trading volume on Friday . 323,977 shares changed hands during mid-day trading, an increase of 79% from the previous session’s volume of 180,629 shares.The stock last traded at $17.02 and had previously closed at $16.34.
Separately, Noble Financial assumed coverage on shares of Tribune Publishing in a report on Tuesday, August 23rd. They issued a “buy” rating and a $21.00 target price for the company.
The stock’s 50 day moving average price is $15.12 and its 200-day moving average price is $11.43. The company’s market capitalization is $613.19 million.
Tribune Publishing (NASDAQ:TRNC) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. The business earned $405 million during the quarter, compared to analyst estimates of $402.81 million. Analysts anticipate that Tribune Publishing Co. will post $0.13 EPS for the current year.
In other Tribune Publishing news, Director Patrick Soon-Shiong purchased 3,400 shares of the business’s stock in a transaction on Monday, June 13th. The stock was bought at an average cost of $12.93 per share, with a total value of $43,962.00. Following the acquisition, the director now owns 410,057 shares of the company’s stock, valued at $5,302,037.01. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
tronc, Inc, formerly Tribune Publishing Company, is a content curation and monetization company focused on creating and distributing content across all channels. The Company’s portfolio of news and information brands includes daily and weekly titles, digital properties and verticals in markets across the country.
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