Principal Financial Group Inc. purchased a new position in shares of Tribune Media Co (NYSE:TRCO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,262 shares of the company’s stock, valued at approximately $338,000.
Several other institutional investors have also recently added to or reduced their stakes in the business. Harvest Management LLC boosted its stake in shares of Tribune Media by 20.0% during the 3rd quarter. Harvest Management LLC now owns 30,000 shares of the company’s stock worth $1,226,000 after purchasing an additional 5,000 shares during the last quarter. IndexIQ Advisors LLC boosted its stake in shares of Tribune Media by 18.9% during the 3rd quarter. IndexIQ Advisors LLC now owns 124,403 shares of the company’s stock worth $5,083,000 after purchasing an additional 19,777 shares during the last quarter. Gabelli Funds LLC boosted its stake in shares of Tribune Media by 13.3% during the 3rd quarter. Gabelli Funds LLC now owns 617,550 shares of the company’s stock worth $25,233,000 after purchasing an additional 72,445 shares during the last quarter. State of Wisconsin Investment Board boosted its stake in shares of Tribune Media by 154.6% during the 3rd quarter. State of Wisconsin Investment Board now owns 481,293 shares of the company’s stock worth $19,666,000 after purchasing an additional 292,240 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Tribune Media during the 3rd quarter worth about $409,000. 90.77% of the stock is currently owned by institutional investors.
Several equities research analysts have issued reports on the stock. BidaskClub cut shares of Tribune Media from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Zacks Investment Research lowered shares of Tribune Media from a “hold” rating to a “strong sell” rating in a report on Saturday, October 21st. Finally, Deutsche Bank started coverage on shares of Tribune Media in a report on Friday, October 20th. They set a “hold” rating and a $42.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $43.88.
In other news, insider Tribune L.P. Oaktree sold 7,000,000 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $40.36, for a total transaction of $282,520,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.55% of the company’s stock.
Shares of Tribune Media Co (NYSE TRCO) traded up $0.30 during mid-day trading on Friday, hitting $42.24. 1,111,016 shares of the stock traded hands, compared to its average volume of 1,116,606. The stock has a market cap of $3,661.40, a price-to-earnings ratio of 28.92, a P/E/G ratio of 12.59 and a beta of 1.51. Tribune Media Co has a 1-year low of $27.75 and a 1-year high of $43.04. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.76 and a current ratio of 1.76.
Tribune Media (NYSE:TRCO) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.06). The company had revenue of $450.53 million for the quarter, compared to analysts’ expectations of $459.81 million. Tribune Media had a positive return on equity of 4.11% and a negative net margin of 6.12%. The company’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.56 earnings per share. equities analysts expect that Tribune Media Co will post 1.11 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Monday, November 20th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.37%. Tribune Media’s payout ratio is currently -75.19%.
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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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