Stevens Capital Management LP Takes $5.39 Million Position in Tribune Media Company (TRCO)
Stevens Capital Management LP acquired a new position in shares of Tribune Media Company (NYSE:TRCO) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 132,265 shares of the company’s stock, valued at approximately $5,392,000. Stevens Capital Management LP owned 0.15% of Tribune Media as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Nationwide Fund Advisors purchased a new position in shares of Tribune Media in the first quarter valued at $103,000. Asset Management One Co. Ltd. purchased a new position in shares of Tribune Media in the first quarter valued at $114,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Tribune Media by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,097 shares of the company’s stock valued at $126,000 after purchasing an additional 272 shares during the period. Sei Investments Co. boosted its stake in shares of Tribune Media by 237.1% in 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 period. Finally, Mizuho Securities USA LLC purchased a new position in shares of Tribune Media in the second quarter valued at $204,000. Institutional investors own 97.13% of the company’s stock.
Several brokerages have recently weighed in on TRCO. BidaskClub downgraded shares of Tribune Media from a “hold” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research upgraded shares of Tribune Media from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $42.00 target price on shares of Tribune Media in a research note on Monday, August 14th. Two research 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’s stock. The company currently has a consensus rating of “Hold” and an average target price of $44.50.
Tribune Media Company (NYSE TRCO) opened at 40.05 on Monday. The stock has a 50 day moving average of $40.36 and a 200 day moving average of $39.49. Tribune Media Company has a 52 week low of $27.75 and a 52 week high of $43.04. The stock has a market capitalization of $3.49 billion, a P/E ratio of 72.16 and a beta of 1.53.
Tribune Media (NYSE:TRCO) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.07). Tribune Media had a net margin of 2.49% and a return on equity of 4.38%. The company had revenue of $469.50 million for the quarter, compared to analyst estimates of $472.56 million. During the same quarter last year, the business earned $0.52 EPS. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, equities research analysts predict that Tribune Media Company will post $1.29 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, August 17th. This represents a $1.00 annualized dividend and a yield of 2.50%. Tribune Media’s dividend payout ratio (DPR) is presently 204.08%.
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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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