MUFG Securities EMEA plc increased its stake in shares of Tribune (NYSE:TRCO) by 375.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 187,042 shares of the company’s stock after purchasing an additional 147,742 shares during the quarter. MUFG Securities EMEA plc’s holdings in Tribune were worth $8,645,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Institute for Wealth Management LLC. grew its stake in Tribune by 2.4% during the 2nd quarter. Institute for Wealth Management LLC. now owns 16,231 shares of the company’s stock worth $750,000 after buying an additional 380 shares during the last quarter. W.E. Donoghue & Co. LLC grew its stake in shares of Tribune by 535.4% during the second quarter. W.E. Donoghue & Co. LLC now owns 137,740 shares of the company’s stock worth $6,366,000 after acquiring an additional 116,064 shares during the last quarter. Gabelli Funds LLC grew its stake in shares of Tribune by 10.3% during the second quarter. Gabelli Funds LLC now owns 1,433,608 shares of the company’s stock worth $66,261,000 after acquiring an additional 133,689 shares during the last quarter. Vertex One Asset Management Inc. grew its stake in shares of Tribune by 51.0% during the second quarter. Vertex One Asset Management Inc. now owns 221,992 shares of the company’s stock worth $10,260,000 after acquiring an additional 74,958 shares during the last quarter. Finally, Yakira Capital Management Inc. increased its holdings in shares of Tribune by 41.8% during the first quarter. Yakira Capital Management Inc. now owns 151,911 shares of the company’s stock valued at $7,009,000 after acquiring an additional 44,744 shares in the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.
Shares of NYSE TRCO traded down $0.01 during midday trading on Wednesday, reaching $46.63. The company had a trading volume of 58,573 shares, compared to its average volume of 1,254,536. Tribune has a 1 year low of $36.66 and a 1 year high of $46.67. The business’s 50-day simple moving average is $46.52 and its 200 day simple moving average is $46.30. The company has a current ratio of 3.87, a quick ratio of 3.87 and a debt-to-equity ratio of 0.85. The stock has a market cap of $4.12 billion, a P/E ratio of 12.68, a P/E/G ratio of 2.00 and a beta of 0.51.
Tribune (NYSE:TRCO) last announced its quarterly earnings data on Friday, August 9th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.08. Tribune had a net margin of 18.05% and a return on equity of 8.92%. The firm had revenue of $484.00 million for the quarter, compared to analyst estimates of $484.33 million. During the same period in the previous year, the company earned $0.99 earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. Analysts predict that Tribune will post 2.51 earnings per share for the current year.
The company also recently declared a dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 19th were given a dividend of $0.25 per share. The ex-dividend date was Friday, August 16th. Tribune’s dividend payout ratio is currently 27.17%.
Separately, Zacks Investment Research raised shares of Tribune from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Saturday, May 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $48.00.
Tribune Company Profile
Tribune Media Company, through its subsidiaries, operates as a diversified 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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