AQR Capital Management LLC grew its stake in tronc Inc (NASDAQ:TRNC) by 106.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 221,653 shares of the company’s stock after buying an additional 114,517 shares during the period. AQR Capital Management LLC’s holdings in tronc were worth $3,620,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of tronc in the second quarter valued at about $168,000. WINTON GROUP Ltd acquired a new stake in shares of tronc in the second quarter valued at about $175,000. Trexquant Investment LP acquired a new stake in shares of tronc in the third quarter valued at about $220,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of tronc in the third quarter valued at about $354,000. Finally, Raymond James & Associates acquired a new stake in shares of tronc in the second quarter valued at about $594,000. 38.71% of the stock is owned by institutional investors.
TRNC has been the subject of several recent analyst reports. Zacks Investment Research raised tronc from a “sell” rating to a “hold” rating in a research note on Saturday, September 15th. BidaskClub cut tronc from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. tronc currently has an average rating of “Hold” and a consensus price target of $21.33.
NASDAQ TRNC opened at $16.11 on Friday. tronc Inc has a one year low of $13.86 and a one year high of $24.74.
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tronc, Inc, a media company, publishes newspapers worldwide. The company operates in two segments, troncM and troncX. It publishes daily newspapers; weekly newspapers; and digital platforms, such as Websites and mobile applications. The company also provides various digital marketing services, which include the development of mobile Websites, search engine marketing and optimization, social media account management, and content marketing for its customers' Web presence for small to medium size businesses.
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