Spark Investment Management LLC increased its stake in tronc, Inc. (NASDAQ:TRNC) by 405.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 87,500 shares of the company’s stock after buying an additional 70,200 shares during the period. Spark Investment Management LLC’s holdings in tronc were worth $1,127,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of TRNC. Russell Investments Group Ltd. bought a new stake in shares of tronc during the fourth quarter valued at $399,000. State Street Corp increased its stake in shares of tronc by 8.2% in the fourth quarter. State Street Corp now owns 461,075 shares of the company’s stock valued at $6,395,000 after buying an additional 35,093 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of tronc by 79.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 94,873 shares of the company’s stock valued at $1,316,000 after buying an additional 41,921 shares during the period. Renaissance Technologies LLC increased its stake in shares of tronc by 69.8% in the fourth quarter. Renaissance Technologies LLC now owns 192,700 shares of the company’s stock valued at $2,673,000 after buying an additional 79,200 shares during the period. Finally, AQR Capital Management LLC bought a new stake in shares of tronc during the fourth quarter valued at $144,000. Institutional investors own 37.37% of the company’s stock.
Shares of tronc, Inc. (NASDAQ:TRNC) opened at 13.51 on Thursday. tronc, Inc. has a one year low of $8.76 and a one year high of $17.93. The firm’s 50-day moving average price is $12.82 and its 200 day moving average price is $13.21. The stock has a market cap of $443.47 million, a P/E ratio of 37.84 and a beta of 1.77.
tronc (NASDAQ:TRNC) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.35. The company had revenue of $369.79 million for the quarter, compared to analysts’ expectations of $375.05 million. tronc had a return on equity of 63.98% and a net margin of 0.83%. Equities research analysts expect that tronc, Inc. will post $0.25 EPS for the current fiscal year.
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TRNC has been the topic of several recent research reports. Zacks Investment Research upgraded tronc from a “strong sell” rating to a “hold” rating in a report on Friday, May 5th. Noble Financial restated a “buy” rating on shares of tronc in a report on Saturday, May 6th. TheStreet downgraded tronc from a “c-” rating to a “d” rating in a report on Friday, May 26th. Finally, ValuEngine downgraded tronc from a “buy” rating to a “hold” rating in a report on Friday, June 9th.
tronc, Inc, formerly Tribune Publishing Company, is a media company. As of December 25, 2016, the Company operated over 150 titles in nine markets. Its portfolio of news and information brands are in markets, including Los Angeles and San Diego, California; Chicago, Illinois; Fort Lauderdale and Orlando, Florida; Baltimore, Maryland; Hartford, Connecticut; Allentown, Pennsylvania, and Newport News, Virginia.
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