Cambridge Investment Research Advisors Inc. Increases Stake in tronc, Inc. (TRNC)

Cambridge Investment Research Advisors Inc. lifted its stake in shares of tronc, Inc. (NASDAQ:TRNC) by 64.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,548 shares of the company’s stock after purchasing an additional 14,339 shares during the period. Cambridge Investment Research Advisors Inc. owned approximately 0.11% of tronc worth $471,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Hosking Partners LLP lifted its position in shares of tronc by 10.2% during the first quarter. Hosking Partners LLP now owns 46,379 shares of the company’s stock worth $646,000 after purchasing an additional 4,294 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of tronc by 66.7% during the first quarter. Prudential Financial Inc. now owns 41,220 shares of the company’s stock worth $574,000 after purchasing an additional 16,500 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of tronc by 3.9% during the first quarter. Vanguard Group Inc. now owns 1,015,745 shares of the company’s stock worth $14,140,000 after purchasing an additional 38,463 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of tronc by 51.0% during the first quarter. Dimensional Fund Advisors LP now owns 143,273 shares of the company’s stock worth $1,994,000 after purchasing an additional 48,400 shares in the last quarter. Finally, American International Group Inc. lifted its position in shares of tronc by 7.1% during the first quarter. American International Group Inc. now owns 16,420 shares of the company’s stock worth $229,000 after purchasing an additional 1,082 shares in the last quarter. Institutional investors own 36.05% of the company’s stock.

tronc, Inc. (TRNC) opened at 14.02 on Wednesday. The firm has a market capitalization of $461.16 million, a price-to-earnings ratio of 39.27 and a beta of 1.75. The stock’s 50 day moving average is $13.53 and its 200-day moving average is $13.22. tronc, Inc. has a 12 month low of $8.76 and a 12 month high of $17.93.

tronc (NASDAQ:TRNC) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.35. tronc had a net margin of 0.83% and a return on equity of 63.98%. The company had revenue of $369.79 million for the quarter, compared to the consensus estimate of $375.05 million. Equities analysts anticipate that tronc, Inc. will post $0.81 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of tronc from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Wednesday, August 9th. Noble Financial reiterated a “buy” rating on shares of tronc in a research report on Thursday, September 7th. ValuEngine lowered shares of tronc from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Finally, TheStreet lowered shares of tronc from a “c-” rating to a “d” rating in a research report on Friday, May 26th.

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About tronc

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.

Institutional Ownership by Quarter for tronc (NASDAQ:TRNC)

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