tronc Inc (TRNC) Holdings Cut by California State Teachers Retirement System
California State Teachers Retirement System lessened its holdings in tronc Inc (NASDAQ:TRNC) by 10.5% during the third quarter, Holdings Channel reports. The fund owned 31,003 shares of the company’s stock after selling 3,627 shares during the period. California State Teachers Retirement System’s holdings in tronc were worth $450,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Citigroup Inc. grew its holdings in shares of 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 bought a new stake in shares of tronc during the third quarter worth about $159,000. SG Americas Securities LLC bought a new stake in shares of tronc during the third quarter worth about $160,000. Voya Investment Management LLC grew its holdings in shares of 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. grew its holdings in shares of 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 36.75% of the company’s stock.
Several analysts have recently weighed in on TRNC shares. ValuEngine upgraded tronc from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded tronc from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Wednesday, November 15th. BidaskClub cut tronc from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 18th. Sidoti started coverage on tronc in a report on Wednesday, January 17th. They set a “buy” rating and a $25.00 price target on the stock. Finally, Noble Financial cut tronc from a “buy” rating to a “hold” rating in a report on Monday. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. tronc has a consensus rating of “Buy” and an average price target of $21.50.
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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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