GABELLI & Co INVESTMENT ADVISERS INC. Has $7.33 Million Stake in Tribune Media Company (TRCO)
GABELLI & Co INVESTMENT ADVISERS INC. raised its stake in Tribune Media Company (NYSE:TRCO) by 530.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 179,695 shares of the company’s stock after buying an additional 151,195 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Tribune Media were worth $7,326,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of TRCO. Creative Planning boosted its stake in shares of Tribune Media by 150.0% in the first quarter. Creative Planning now owns 3,000 shares of the company’s stock valued at $112,000 after buying an additional 1,800 shares in the last quarter. Nisa Investment Advisors LLC acquired a new stake in shares of Tribune Media during the first quarter valued at $1,349,000. Murphy Pohlad Asset Management LLC boosted its stake in shares of Tribune Media by 66.4% in the first quarter. Murphy Pohlad Asset Management LLC now owns 66,790 shares of the company’s stock valued at $2,489,000 after buying an additional 26,655 shares in the last quarter. Nationwide Fund Advisors acquired a new stake in shares of Tribune Media during the first quarter valued at $103,000. Finally, First Manhattan Co. boosted its stake in shares of Tribune Media by 12.6% in the first quarter. First Manhattan Co. now owns 220,715 shares of the company’s stock valued at $8,060,000 after buying an additional 24,675 shares in the last quarter.
Tribune Media Company (NYSE:TRCO) traded down 0.08% during trading on Wednesday, reaching $39.78. 126,088 shares of the company traded hands. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 71.68 and a beta of 1.52. Tribune Media Company has a 12-month low of $27.75 and a 12-month high of $43.04. The firm’s 50 day moving average price is $41.11 and its 200 day moving average price is $38.23.
Tribune Media (NYSE:TRCO) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by $0.07. The firm had revenue of $469.50 million during the quarter, compared to the consensus estimate of $472.56 million. Tribune Media had a return on equity of 4.38% and a net margin of 2.49%. Tribune Media’s revenue was down 2.1% on a year-over-year basis. During the same period last year, the business earned $0.52 EPS. Equities research analysts expect that Tribune Media Company will post $1.31 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Thursday, August 17th. Tribune Media’s dividend payout ratio (DPR) is presently 204.08%.
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Several analysts recently weighed in on TRCO shares. Wells Fargo & Company cut shares of Tribune Media from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 20th. BWS Financial reduced their price objective on shares of Tribune Media from $54.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, May 1st. Gabelli cut shares of Tribune Media from a “buy” rating to a “sell” rating in a research note on Tuesday, May 9th. Morgan Stanley raised shares of Tribune Media from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $37.00 to $43.50 in a research note on Tuesday, May 9th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $47.00 price objective (up previously from $36.00) on shares of Tribune Media in a research note on Thursday, May 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $44.50.
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