Trexquant Investment LP Cuts Stake in Tribune (TRCO)
Trexquant Investment LP decreased its position in shares of Tribune (NYSE:TRCO) by 83.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,996 shares of the company’s stock after selling 44,832 shares during the quarter. Trexquant Investment LP’s holdings in Tribune were worth $346,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio grew its stake in shares of Tribune by 4.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 35,818 shares of the company’s stock worth $1,371,000 after acquiring an additional 1,502 shares during the period. BTG Pactual Global Asset Management Ltd lifted its holdings in Tribune by 1.1% during the 2nd quarter. BTG Pactual Global Asset Management Ltd now owns 139,246 shares of the company’s stock worth $5,329,000 after purchasing an additional 1,539 shares in the last quarter. Visionary Asset Management Inc. lifted its holdings in Tribune by 18.2% during the 3rd quarter. Visionary Asset Management Inc. now owns 10,602 shares of the company’s stock worth $407,000 after purchasing an additional 1,630 shares in the last quarter. Stone Ridge Asset Management LLC lifted its holdings in Tribune by 24.9% during the 3rd quarter. Stone Ridge Asset Management LLC now owns 10,249 shares of the company’s stock worth $394,000 after purchasing an additional 2,042 shares in the last quarter. Finally, NumerixS Investment Technologies Inc lifted its holdings in Tribune by 170.1% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,782 shares of the company’s stock worth $144,000 after purchasing an additional 2,382 shares in the last quarter. Institutional investors own 93.71% of the company’s stock.
TRCO has been the topic of a number of recent research reports. Wolfe Research initiated coverage on Tribune in a report on Friday. They set an “underperform” rating and a $44.00 price objective on the stock. ValuEngine raised Tribune from a “sell” rating to a “hold” rating in a report on Thursday, October 18th. Zacks Investment Research raised Tribune from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Saturday, November 17th. Gabelli initiated coverage on Tribune in a report on Tuesday, November 27th. They set a “buy” rating on the stock. Finally, FinnCap initiated coverage on Tribune in a report on Tuesday, November 27th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $40.67.
Tribune (NYSE:TRCO) last issued its quarterly earnings data on Friday, November 9th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. The business had revenue of $498.00 million for the quarter, compared to analysts’ expectations of $481.79 million. Tribune had a return on equity of 7.72% and a net margin of 31.69%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 EPS. As a group, research analysts expect that Tribune will post 3.35 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 4th. Shareholders of record on Monday, November 19th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 16th. This represents a $1.00 annualized dividend and a dividend yield of 2.22%. Tribune’s payout ratio is currently 70.92%.
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Tribune 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, MY 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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