Ameriprise Financial Inc. Has $8,032,000 Position in Tribune Media Co. (TRCO)
Ameriprise Financial Inc. reduced its stake in shares of Tribune Media Co. (NYSE:TRCO) by 11.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 203,543 shares of the company’s stock after selling 26,975 shares during the period. Ameriprise Financial Inc. owned 0.22% of Tribune Media worth $8,032,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of TRCO. Omega Advisors Inc. raised its position in shares of Tribune Media by 7.6% in the first quarter. Omega Advisors Inc. now owns 3,970,628 shares of the company’s stock worth $152,274,000 after buying an additional 281,033 shares during the last quarter. Barington Capital Group L.P. raised its position in shares of Tribune Media by 40.0% in the first quarter. Barington Capital Group L.P. now owns 35,000 shares of the company’s stock worth $1,342,000 after buying an additional 10,000 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Tribune Media by 2.9% in the first quarter. Geode Capital Management LLC now owns 522,160 shares of the company’s stock worth $20,024,000 after buying an additional 14,924 shares during the last quarter. Aperio Group LLC purchased a new position in shares of Tribune Media during the first quarter worth about $380,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Tribune Media during the first quarter worth about $2,956,000.
Shares of Tribune Media Co. (NYSE:TRCO) traded down 0.80% during mid-day trading on Thursday, hitting $35.84. The stock had a trading volume of 140,285 shares. Tribune Media Co. has a 12-month low of $26.10 and a 12-month high of $42.23. The stock’s market capitalization is $3.25 billion. The stock’s 50-day moving average price is $37.42 and its 200-day moving average price is $38.24.
Tribune Media (NYSE:TRCO) last issued its earnings results on Tuesday, August 9th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. The company had revenue of $526.10 million for the quarter, compared to analysts’ expectations of $539.10 million. Tribune Media had a negative net margin of 24.18% and a positive return on equity of 3.67%. Tribune Media’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.04) EPS. On average, equities analysts anticipate that Tribune Media Co. will post $2.23 EPS for the current fiscal year.
Several research firms have recently weighed in on TRCO. Wells Fargo & Co. reissued a “buy” rating on shares of Tribune Media in a research note on Monday, September 26th. Jefferies Group reissued a “hold” rating on shares of Tribune Media in a research note on Monday, September 12th. Zacks Investment Research raised Tribune Media from a “sell” rating to a “hold” rating in a research note on Saturday, August 20th. Finally, Citigroup Inc. began coverage on Tribune Media in a research note on Wednesday, June 15th. They set a “sell” rating for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $44.17.
In other news, insider Matthew Cherniss sold 11,705 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $38.92, for a total value of $455,558.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.74% of the stock is currently owned by insiders.
Want to see what other hedge funds are holding TRCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tribune Media Co. (NYSE:TRCO).
Receive News & Ratings for Tribune Media Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tribune Media Co. and related companies with MarketBeat.com's FREE daily email newsletter.