Utah Retirement Systems Decreases Stake in Tribune Media Company (TRCO)
Utah Retirement Systems trimmed its stake in shares of Tribune Media Company (NYSE:TRCO) by 1.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,300 shares of the company’s stock after selling 200 shares during the period. Utah Retirement Systems’ holdings in Tribune Media were worth $542,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nationwide Fund Advisors purchased a new position in shares of Tribune Media during the first quarter valued at approximately $103,000. Asset Management One Co. Ltd. purchased a new position in shares of Tribune Media during the first quarter valued at approximately $114,000. Sei Investments Co. raised its holdings in shares of Tribune Media by 237.1% during the first quarter. Sei Investments Co. now owns 5,370 shares of the company’s stock valued at $200,000 after purchasing an additional 3,777 shares during the last quarter. Mizuho Securities USA LLC purchased a new position in shares of Tribune Media during the second quarter valued at approximately $204,000. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of Tribune Media during the first quarter valued at approximately $229,000. 97.18% of the stock is owned by hedge funds and other institutional investors.
TRCO has been the subject of several research reports. Zacks Investment Research cut shares of Tribune Media from a “hold” rating to a “strong sell” rating in a report on Thursday, July 13th. Jefferies Group LLC reissued a “hold” rating and set a $42.00 price objective on shares of Tribune Media in a report on Wednesday, June 14th. Finally, BidaskClub cut shares of Tribune Media from a “hold” rating to a “sell” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $44.50.
Shares of Tribune Media Company (NYSE:TRCO) opened at 39.70 on Friday. The company’s 50-day moving average is $40.42 and its 200 day moving average is $39.45. Tribune Media Company has a 12 month low of $27.75 and a 12 month high of $43.04. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 71.53 and a beta of 1.53.
Tribune Media (NYSE:TRCO) last posted 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). Tribune Media had a return on equity of 4.38% and a net margin of 2.49%. The business had revenue of $469.50 million for the quarter, compared to analysts’ expectations of $472.56 million. During the same period in the prior year, the business posted $0.52 earnings per share. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that Tribune Media Company will post $1.29 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Thursday, August 17th. Tribune Media’s dividend payout ratio is presently 204.08%.
Tribune Media Company Profile
Tribune Media Company, through its subsidiaries, operates as a media and entertainment company in the United States. It offers news, entertainment, and sports programming through Tribune Broadcasting local television stations, including FOX television affiliates, CW Network, LLC television affiliates, CBS television affiliates, ABC television affiliates, NBC television affiliates, and independent television stations; and television series and movies on WGN America, a national general entertainment cable network.
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