Algert Global LLC boosted its stake in tronc, Inc. (NASDAQ:TRNC) by 4.0% during the second quarter, Holdings Channel reports. The fund owned 101,766 shares of the company’s stock after buying an additional 3,960 shares during the period. Algert Global LLC’s holdings in tronc were worth $1,312,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Spark Investment Management LLC raised its stake in tronc by 405.8% in the second quarter. Spark Investment Management LLC now owns 87,500 shares of the company’s stock valued at $1,127,000 after buying an additional 70,200 shares during the last quarter. Strs Ohio raised its stake in tronc by 6.0% in the second quarter. Strs Ohio now owns 49,500 shares of the company’s stock valued at $638,000 after buying an additional 2,800 shares during the last quarter. HighTower Advisors LLC raised its stake in tronc by 6.9% in the first quarter. HighTower Advisors LLC now owns 49,019 shares of the company’s stock valued at $685,000 after buying an additional 3,173 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in tronc by 13.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 195,320 shares of the company’s stock valued at $2,719,000 after buying an additional 23,377 shares during the last quarter. Finally, KCG Holdings Inc. purchased a new stake in tronc during the first quarter valued at $189,000. 37.37% of the stock is owned by institutional investors.
Shares of tronc, Inc. (TRNC) opened at 13.51 on Thursday. The company has a 50 day moving average of $12.82 and a 200-day moving average of $13.21. The firm has a market cap of $443.47 million, a price-to-earnings ratio of 37.84 and a beta of 1.77. tronc, Inc. has a one year low of $8.76 and a one year high of $17.93.
tronc (NASDAQ:TRNC) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.35. The business had revenue of $369.79 million during the quarter, compared to analysts’ expectations of $375.05 million. tronc had a net margin of 0.83% and a return on equity of 63.98%. On average, analysts expect that tronc, Inc. will post $0.25 EPS for the current year.
Several research firms have recently weighed in on TRNC. Zacks Investment Research raised shares of tronc from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Wednesday. Noble Financial reaffirmed a “buy” rating on shares of tronc in a report on Thursday, August 3rd. ValuEngine lowered shares of tronc from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Finally, TheStreet lowered shares of tronc from a “c-” rating to a “d” rating in a report on Friday, May 26th.
tronc Company Profile
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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