Vanguard Group Inc. increased its position in Tribune Media Company (NYSE:TRCO) by 0.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,066,444 shares of the company’s stock after acquiring an additional 16,849 shares during the period. Vanguard Group Inc. owned approximately 6.98% of Tribune Media worth $247,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of TRCO. Nationwide Fund Advisors purchased a new position in shares of Tribune Media during the 1st quarter valued at about $103,000. Asset Management One Co. Ltd. purchased a new position in shares of Tribune Media during the 1st quarter valued at about $114,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Tribune Media by 9.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,097 shares of the company’s stock valued at $126,000 after buying an additional 272 shares during the last quarter. Mizuho Securities USA LLC purchased a new position in shares of Tribune Media during the 2nd quarter valued at about $204,000. Finally, Sei Investments Co. raised its stake in shares of Tribune Media by 237.1% during the 1st quarter. Sei Investments Co. now owns 5,370 shares of the company’s stock valued at $200,000 after buying an additional 3,777 shares during the last quarter. Institutional investors own 97.12% of the company’s stock.
Tribune Media Company (NYSE:TRCO) opened at 40.60 on Friday. The firm’s 50 day moving average price is $40.38 and its 200-day moving average price is $39.89. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 73.15 and a beta of 1.53. Tribune Media Company has a 1-year low of $27.75 and a 1-year high of $43.04.
Tribune Media (NYSE:TRCO) last announced its earnings results on Wednesday, August 9th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $472.56 million. During the same period in the previous year, the company posted $0.52 earnings per share. Tribune Media’s quarterly revenue was down 2.1% on a year-over-year basis. On average, equities analysts anticipate that Tribune Media Company will post $1.29 earnings per share for the current year.
A number of equities analysts have weighed in on the company. BidaskClub upgraded Tribune Media from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. Zacks Investment Research upgraded Tribune Media from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $42.00 price objective on shares of Tribune Media in a research note on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $44.50.
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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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