Dimensional Fund Advisors LP Acquires 48,400 Shares of tronc, Inc. (TRNC)
Dimensional Fund Advisors LP increased its holdings in shares of tronc, Inc. (NASDAQ:TRNC) by 51.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,273 shares of the company’s stock after buying an additional 48,400 shares during the period. Dimensional Fund Advisors LP owned 0.39% of tronc worth $1,994,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Trexquant Investment LP bought a new stake in shares of tronc during the first quarter worth approximately $179,000. American International Group Inc. grew its holdings in tronc by 7.1% during the first quarter. American International Group Inc. now owns 16,420 shares of the company’s stock valued at $229,000 after purchasing an additional 1,082 shares during the period. Spark Investment Management LLC acquired a new position in tronc during the first quarter valued at approximately $240,000. Dynamic Technology Lab Private Ltd acquired a new position in tronc during the first quarter valued at approximately $276,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in tronc during the first quarter valued at approximately $309,000. 36.05% of the stock is owned by institutional investors and hedge funds.
Shares of tronc, Inc. (NASDAQ TRNC) traded up 1.03% on Friday, reaching $14.66. 106,308 shares of the company were exchanged. The company has a market cap of $482.21 million, a price-to-earnings ratio of 41.06 and a beta of 1.74. tronc, Inc. has a 12 month low of $8.76 and a 12 month high of $17.93. The company’s 50-day moving average price is $13.26 and its 200 day moving average price is $13.23.
tronc (NASDAQ:TRNC) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.35. tronc had a net margin of 0.83% and a return on equity of 63.98%. The firm had revenue of $369.79 million during the quarter, compared to analyst estimates of $375.05 million. On average, equities research analysts expect that tronc, Inc. will post $0.81 EPS for the current year.
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A number of research analysts recently issued reports on TRNC shares. TheStreet cut shares of tronc from a “c-” rating to a “d” rating in a report on Friday, May 26th. Noble Financial restated a “buy” rating on shares of tronc in a report on Thursday, August 3rd. Zacks Investment Research cut shares of tronc from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Finally, ValuEngine cut shares of tronc from a “buy” rating to a “hold” rating in a report on Friday, June 9th.
tronc, Inc, formerly Tribune Publishing Company, is a media company. As of December 25, 2016, the Company operated over 150 titles in nine markets. Its portfolio of news and information brands are in markets, including Los Angeles and San Diego, California; Chicago, Illinois; Fort Lauderdale and Orlando, Florida; Baltimore, Maryland; Hartford, Connecticut; Allentown, Pennsylvania, and Newport News, Virginia.
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