TheStreet upgraded shares of Tribune Publishing (NASDAQ:TPCO) from a d+ rating to a c rating in a research report released on Friday morning, TheStreetRatingsTable reports.
TPCO has been the topic of a number of other research reports. Noble Financial set a $19.00 price objective on Tribune Publishing and gave the company a buy rating in a research note on Tuesday, August 20th. Zacks Investment Research cut Tribune Publishing from a hold rating to a sell rating in a research report on Friday, August 30th.
TPCO stock opened at $12.60 on Friday. Tribune Publishing has a 1 year low of $7.00 and a 1 year high of $15.14. The company has a quick ratio of 0.98, a current ratio of 1.01 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average price is $9.82 and its 200 day moving average price is $8.80.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, November 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.94%.
In other Tribune Publishing news, major shareholder Michael W. Ferro, Jr. sold 23,741 shares of Tribune Publishing stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $13.00, for a total value of $308,633.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Alden Global Capital Llc bought 184,500 shares of the stock in a transaction on Wednesday, November 20th. The stock was purchased at an average cost of $10.94 per share, with a total value of $2,018,430.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 1,176,859 shares of company stock valued at $14,581,729. Company insiders own 2.20% of the company’s stock.
Institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA purchased a new position in shares of Tribune Publishing during the 2nd quarter worth $33,000. Nisa Investment Advisors LLC grew its position in shares of Tribune Publishing by 3,134.0% in the second quarter. Nisa Investment Advisors LLC now owns 7,600 shares of the company’s stock valued at $61,000 after purchasing an additional 7,365 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Tribune Publishing in the third quarter valued at $63,000. Prudential Financial Inc. purchased a new stake in shares of Tribune Publishing in the second quarter valued at $98,000. Finally, A.R.T. Advisors LLC acquired a new position in Tribune Publishing in the second quarter valued at $106,000. 35.20% of the stock is currently owned by institutional investors.
About Tribune Publishing
Tribune Publishing Company, a media company, publishes newspapers worldwide. The company operates in two segments, M and X. It publishes daily newspapers; weekly newspapers; and digital platforms, such as Websites and mobile applications. The company also provides various digital marketing services, which include the development of mobile Websites, search engine marketing and optimization, social media account management, and content marketing for its customers' Web presence for small to medium size businesses.
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