York Capital Management Global Advisors LLC Boosts Stake in Tribune Media Company (TRCO)
York Capital Management Global Advisors LLC lifted its holdings in Tribune Media Company (NYSE:TRCO) by 208.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,549,379 shares of the company’s stock after buying an additional 1,047,037 shares during the period. Tribune Media comprises 1.3% of York Capital Management Global Advisors LLC’s holdings, making the stock its 21st largest holding. York Capital Management Global Advisors LLC owned approximately 1.78% of Tribune Media worth $63,168,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of TRCO. Nationwide Fund Advisors purchased a new stake in Tribune Media in the 1st quarter valued at about $103,000. Asset Management One Co. Ltd. purchased a new stake in Tribune Media in the 1st quarter valued at about $114,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Tribune Media by 9.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,097 shares of the company’s stock valued at $126,000 after buying an additional 272 shares during the period. Sei Investments Co. boosted its position in Tribune Media by 237.1% in the 1st quarter. Sei Investments Co. now owns 5,370 shares of the company’s stock valued at $200,000 after buying an additional 3,777 shares during the period. Finally, Mizuho Securities USA LLC purchased a new stake in Tribune Media in the 2nd quarter valued at about $204,000. Hedge funds and other institutional investors own 97.13% of the company’s stock.
Shares of Tribune Media Company (TRCO) traded down 0.36% on Friday, reaching $41.04. 229,372 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $40.25 and a 200 day moving average of $39.77. The firm has a market capitalization of $3.58 billion, a P/E ratio of 73.95 and a beta of 1.53. Tribune Media Company has a one year low of $27.75 and a one year high of $43.04.
Tribune Media (NYSE:TRCO) last released 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 business had revenue of $469.50 million during the quarter, compared to analysts’ expectations of $472.56 million. During the same quarter last year, the company earned $0.52 EPS. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, equities research analysts predict that Tribune Media Company will post $1.29 EPS for the current year.
Several equities research analysts have issued reports on TRCO shares. Jefferies Group LLC reissued a “hold” rating and issued a $42.00 price objective on shares of Tribune Media in a research report on Wednesday, June 14th. Zacks Investment Research raised shares of Tribune Media from a “sell” rating to a “hold” rating in a research report on Tuesday, August 15th. Finally, BidaskClub raised shares of Tribune Media from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $44.50.
Tribune Media 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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