Tribune Publishing Co. (TRNC) Sees Strong Trading Volume
Shares of Tribune Publishing Co. (NASDAQ:TRNC) saw unusually-high trading volume on Friday . Approximately 323,977 shares were traded during 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 started coverage on Tribune Publishing in a research note on Tuesday. They issued a “buy” rating and a $21.00 price target for the company.
The company’s market capitalization is $613.19 million. The stock’s 50 day moving average is $15.02 and its 200 day moving average is $11.36.
Tribune Publishing (NASDAQ:TRNC) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The business earned $405 million during the quarter, compared to the consensus estimate of $402.81 million. On average, equities analysts predict 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 company’s stock in a transaction that occurred on Monday, June 13th. The shares were acquired at an average price of $12.93 per share, with a total value of $43,962.00. Following the transaction, the director now owns 410,057 shares in the company, valued at $5,302,037.01. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
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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