Vanguard Group Inc. raised its stake in shares of Tribune Media Co. (NYSE:TRCO) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,483,523 shares of the company’s stock after buying an additional 132,994 shares during the period. Vanguard Group Inc. owned 5.96% of Tribune Media worth $214,845,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Omega Advisors Inc. raised its stake in shares of Tribune Media by 7.6% in the first quarter. Omega Advisors Inc. now owns 3,970,628 shares of the company’s stock worth $152,274,000 after buying an additional 281,033 shares in the last quarter. Barington Capital Group L.P. raised its stake in shares of Tribune Media by 40.0% in the first quarter. Barington Capital Group L.P. now owns 35,000 shares of the company’s stock worth $1,342,000 after buying an additional 10,000 shares in the last quarter. Aperio Group LLC purchased a new stake in shares of Tribune Media during the first quarter worth about $380,000. Geode Capital Management LLC raised its stake in shares of Tribune Media by 2.9% in the first quarter. Geode Capital Management LLC now owns 522,160 shares of the company’s stock worth $20,024,000 after buying an additional 14,924 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Tribune Media during the first quarter worth about $2,956,000.
Tribune Media Co. (NYSE:TRCO) opened at 33.78 on Friday. The company’s 50-day moving average price is $36.67 and its 200-day moving average price is $38.11. Tribune Media Co. has a 12 month low of $26.10 and a 12 month high of $42.23. The stock’s market cap is $3.06 billion.
Tribune Media (NYSE:TRCO) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $526.10 million for the quarter, compared to analysts’ expectations of $539.10 million. Tribune Media had a positive return on equity of 3.67% and a negative net margin of 24.18%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.04) EPS. Equities analysts forecast that Tribune Media Co. will post $2.23 earnings per share for the current year.
TRCO has been the topic of a number of research analyst reports. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Tribune Media in a research note on Monday, September 26th. Jefferies Group reaffirmed a “hold” rating and issued a $38.00 price target on shares of Tribune Media in a research note on Thursday, September 29th. Finally, Zacks Investment Research raised Tribune Media from a “sell” rating to a “hold” rating in a research note on Saturday, August 20th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $44.17.
In related news, insider Matthew Cherniss sold 11,705 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $38.92, for a total value of $455,558.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.74% of the stock is owned by corporate insiders.
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