Zacks Investment Research Lowers A.H. Belo Corp. (AHC) to Hold
According to Zacks, “A. H. Belo Corporation headquartered in Dallas, Texas, is a distinguished newspaper publishing and local news and information company that owns and operates four daily newspapers and a diverse group of Web sites. . H. Belo publishes The Dallas Morning News, Texas’ leading newspaper and winner of eight Pulitzer Prizes since 1986; The Providence Journal, the oldest continuously-published daily newspaper in the U.S. and winner of four Pulitzer Prizes; The Press-Enterprise (Riverside, CA), serving southern California’s Inland Empire region and winner of one Pulitzer Prize; and the Denton Record-Chronicle. The Company publishes various specialty publications targeting niche audiences, and its partnerships and/or investments include the Yahoo! Newspaper Consortium and Classified Ventures, owner of cars.com. A. H. Belo also owns direct mail and commercial printing businesses. “
Separately, Gabelli upgraded shares of A.H. Belo Corp. from a hold rating to a buy rating in a research note on Wednesday, August 3rd.
A.H. Belo Corp. (NYSE:AHC) opened at 7.33 on Tuesday. The firm’s 50-day moving average is $6.61 and its 200-day moving average is $5.47. A.H. Belo Corp. has a 1-year low of $4.75 and a 1-year high of $7.95. The company’s market capitalization is $158.89 million.
In other news, Director Robert W. Decherd sold 81,140 shares of A.H. Belo Corp. stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $6.03, for a total value of $489,274.20. Following the transaction, the director now owns 100,000 shares of the company’s stock, valued at $603,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Christine E. Larkin sold 6,511 shares of A.H. Belo Corp. stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $5.82, for a total transaction of $37,894.02. The disclosure for this sale can be found here. 14.60% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in AHC. Penbrook Management LLC purchased a new position in A.H. Belo Corp. during the second quarter worth approximately $183,000. Jacobs Levy Equity Management Inc. raised its position in A.H. Belo Corp. by 251.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 41,800 shares of the company’s stock worth $201,000 after buying an additional 29,900 shares in the last quarter. Bridgeway Capital Management Inc. raised its position in A.H. Belo Corp. by 33.4% in the second quarter. Bridgeway Capital Management Inc. now owns 99,521 shares of the company’s stock worth $498,000 after buying an additional 24,900 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in A.H. Belo Corp. during the second quarter worth approximately $680,000. Finally, Bank of New York Mellon Corp raised its position in A.H. Belo Corp. by 9.8% in the second quarter. Bank of New York Mellon Corp now owns 152,457 shares of the company’s stock worth $763,000 after buying an additional 13,583 shares in the last quarter. 67.26% of the stock is currently owned by institutional investors.
About A.H. Belo Corp.
A. H. Belo Corporation is a local news and information publishing company. The Company is engaged in providing commercial printing, distribution and direct mail services, as well as media and digital marketing services. The Company operates through two segments: Publishing and Marketing, Event Marketing and Other Services (MEMO).
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