Ballentine Partners LLC acquired a new position in Tribune Media Company (NYSE:TRCO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,894 shares of the company’s stock, valued at approximately $371,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas increased its position in Tribune Media by 1.5% in the second quarter. Teacher Retirement System of Texas now owns 5,948 shares of the company’s stock worth $243,000 after buying an additional 90 shares during the last quarter. Amalgamated Bank increased its position in Tribune Media by 1.1% in the first quarter. Amalgamated Bank now owns 11,167 shares of the company’s stock worth $416,000 after buying an additional 123 shares during the last quarter. Concert Wealth Management Inc. increased its position in Tribune Media by 3.8% in the first quarter. Concert Wealth Management Inc. now owns 10,056 shares of the company’s stock worth $348,000 after buying an additional 366 shares during the last quarter. Aperio Group LLC increased its position in Tribune Media by 6.2% in the second quarter. Aperio Group LLC now owns 8,587 shares of the company’s stock worth $350,000 after buying an additional 503 shares during the last quarter. Finally, Oxbow Advisors LLC increased its position in Tribune Media by 0.5% in the first quarter. Oxbow Advisors LLC now owns 140,125 shares of the company’s stock worth $5,222,000 after buying an additional 720 shares during the last quarter.
Tribune Media Company (NYSE:TRCO) opened at 39.95 on Friday. Tribune Media Company has a 1-year low of $27.75 and a 1-year high of $43.04. The company has a market capitalization of $3.49 billion, a P/E ratio of 71.98 and a beta of 1.52. The firm has a 50-day moving average price of $41.04 and a 200-day moving average price of $38.34.
Tribune Media (NYSE:TRCO) last released its earnings results on Wednesday, August 9th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by $0.07. The business had revenue of $469.50 million during the quarter, compared to the consensus estimate of $472.56 million. Tribune Media had a net margin of 2.49% and a return on equity of 4.38%. The business’s revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 earnings per share. On average, analysts forecast that Tribune Media Company will post $1.16 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, August 17th. Tribune Media’s dividend payout ratio is presently 204.08%.
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A number of research firms have weighed in on TRCO. Jefferies Group LLC restated a “hold” rating and issued a $47.00 price target (up from $36.00) on shares of Tribune Media in a research note on Thursday, May 11th. Morgan Stanley upgraded Tribune Media from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $37.00 to $43.50 in a research note on Tuesday, May 9th. Zacks Investment Research downgraded Tribune Media from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 13th. Gabelli downgraded Tribune Media from a “buy” rating to a “sell” rating in a research note on Tuesday, May 9th. Finally, BWS Financial decreased their price target on Tribune Media from $54.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $44.50.
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