Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Trims Stake in Tribune (TRCO)
Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp reduced its position in shares of Tribune (NYSE:TRCO) by 54.0% during the 4th quarter, Holdings Channel reports. The firm owned 30,000 shares of the company’s stock after selling 35,200 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Tribune were worth $1,361,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Baupost Group LLC MA lifted its stake in shares of Tribune by 100.1% in the third quarter. Baupost Group LLC MA now owns 5,996,042 shares of the company’s stock worth $230,428,000 after acquiring an additional 3,000,000 shares during the period. Water Island Capital LLC lifted its stake in shares of Tribune by 1,091.3% in the fourth quarter. Water Island Capital LLC now owns 1,979,797 shares of the company’s stock worth $89,843,000 after acquiring an additional 1,813,607 shares during the period. Soros Fund Management LLC acquired a new position in shares of Tribune in the third quarter worth approximately $61,488,000. Citadel Advisors LLC acquired a new position in shares of Tribune in the third quarter worth approximately $42,445,000. Finally, Gamco Investors INC. ET AL lifted its stake in shares of Tribune by 46.0% in the fourth quarter. Gamco Investors INC. ET AL now owns 3,000,304 shares of the company’s stock worth $136,154,000 after acquiring an additional 945,058 shares during the period. Institutional investors own 95.34% of the company’s stock.
Several brokerages have issued reports on TRCO. Zacks Investment Research raised Tribune from a “hold” rating to a “strong-buy” rating and set a $52.00 price target on the stock in a research note on Tuesday, December 25th. FinnCap began coverage on Tribune in a research note on Tuesday, November 27th. They issued a “buy” rating on the stock. Gabelli started coverage on Tribune in a report on Tuesday, November 27th. They set a “buy” rating for the company. Wolfe Research started coverage on Tribune in a report on Friday, December 7th. They set an “underperform” rating and a $44.00 price target for the company. Finally, ValuEngine upgraded Tribune from a “sell” rating to a “hold” rating in a report on Saturday, December 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Tribune currently has an average rating of “Hold” and a consensus target price of $42.17.
Tribune (NYSE:TRCO) last announced its quarterly earnings results on Friday, March 1st. The company reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.02. The business had revenue of $578.73 million during the quarter, compared to the consensus estimate of $577.59 million. Tribune had a return on equity of 9.50% and a net margin of 20.53%. Tribune’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.81 earnings per share. On average, equities analysts anticipate that Tribune will post 1.92 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 25th. Shareholders of record on Monday, March 11th will be paid a $0.25 dividend. The ex-dividend date is Friday, March 8th. This represents a $1.00 dividend on an annualized basis and a yield of 2.17%. Tribune’s dividend payout ratio (DPR) is presently 27.17%.
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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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