UBS Asset Management Americas Inc. boosted its holdings in shares of Tribune Media Company (NYSE:TRCO) by 6.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 76,983 shares of the company’s stock after purchasing an additional 4,903 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.09% of Tribune Media worth $3,139,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of TRCO. Nationwide Fund Advisors purchased a new position in Tribune Media during the 1st quarter worth $103,000. Asset Management One Co. Ltd. purchased a new position in Tribune Media during the 1st quarter worth $114,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Tribune Media by 9.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,097 shares of the company’s stock worth $126,000 after purchasing an additional 272 shares during the last quarter. Sei Investments Co. grew its position in Tribune Media by 237.1% during the 1st quarter. Sei Investments Co. now owns 5,370 shares of the company’s stock worth $200,000 after purchasing an additional 3,777 shares during the last quarter. Finally, Mizuho Securities USA LLC purchased a new position in Tribune Media during the 2nd quarter worth $204,000. 97.12% of the stock is currently owned by institutional investors.
Shares of Tribune Media Company (NYSE:TRCO) opened at 40.60 on Friday. The stock has a 50 day moving average of $40.38 and a 200 day moving average of $39.89. Tribune Media Company has a 1-year low of $27.75 and a 1-year high of $43.04. The firm has a market cap of $3.54 billion, a PE ratio of 73.15 and a beta of 1.53.
Tribune Media (NYSE:TRCO) last released its earnings results on Wednesday, August 9th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.07). Tribune Media had a net margin of 2.49% and a return on equity of 4.38%. The business had revenue of $469.50 million for the quarter, compared to the consensus estimate of $472.56 million. During the same quarter in the previous year, the firm earned $0.52 EPS. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. Equities research analysts anticipate that Tribune Media Company will post $1.29 earnings per share for the current fiscal year.
Several brokerages have issued reports on TRCO. BidaskClub raised shares of Tribune Media from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. Zacks Investment Research raised shares of Tribune Media from a “sell” rating to a “hold” rating in a research report on Tuesday, August 15th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $42.00 price objective on shares of Tribune Media in a research report on Monday, August 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Tribune Media currently has an average rating of “Hold” and a consensus target price of $44.50.
Tribune Media Profile
Tribune Media Company, through its subsidiaries, operates as a 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, 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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