tronc Inc (TRNC) Position Raised by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. increased its position in shares of tronc Inc (NASDAQ:TRNC) by 38.5% in the 3rd quarter, Holdings Channel reports. The firm owned 280,094 shares of the company’s stock after acquiring an additional 77,799 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in tronc were worth $4,070,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Citigroup Inc. increased its position in tronc by 20,605.2% during the second quarter. Citigroup Inc. now owns 12,009 shares of the company’s stock worth $155,000 after purchasing an additional 11,951 shares during the last quarter. Citadel Advisors LLC acquired a new stake in tronc during the third quarter worth about $159,000. SG Americas Securities LLC acquired a new stake in tronc during the third quarter worth about $160,000. Voya Investment Management LLC increased its position in tronc by 21.7% during the second quarter. Voya Investment Management LLC now owns 13,748 shares of the company’s stock worth $177,000 after purchasing an additional 2,451 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in tronc by 81.9% during the third quarter. Russell Investments Group Ltd. now owns 12,732 shares of the company’s stock worth $184,000 after purchasing an additional 5,732 shares during the last quarter. Hedge funds and other institutional investors own 36.04% of the company’s stock.
tronc Inc (NASDAQ:TRNC) opened at $18.32 on Friday. The company has a debt-to-equity ratio of 4.98, a quick ratio of 1.53 and a current ratio of 1.57. The firm has a market cap of $613.51, a PE ratio of 25.80 and a beta of 1.64. tronc Inc has a 12 month low of $10.80 and a 12 month high of $18.97.
Several research firms recently issued reports on TRNC. ValuEngine upgraded shares of tronc from a “hold” rating to a “buy” rating in a research report on Friday, October 27th. Zacks Investment Research lowered shares of tronc from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 4th.
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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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