HighTower Advisors LLC increased its stake in shares of tronc, Inc. (NASDAQ:TRNC) by 6.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 49,019 shares of the company’s stock after buying an additional 3,173 shares during the period. HighTower Advisors LLC owned about 0.15% of tronc worth $685,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new stake in tronc during the fourth quarter valued at approximately $399,000. State Street Corp boosted its stake in tronc by 8.2% in the fourth quarter. State Street Corp now owns 461,075 shares of the company’s stock valued at $6,395,000 after buying an additional 35,093 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in tronc by 79.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 94,873 shares of the company’s stock valued at $1,316,000 after buying an additional 41,921 shares in the last quarter. Renaissance Technologies LLC boosted its stake in tronc by 69.8% in the fourth quarter. Renaissance Technologies LLC now owns 192,700 shares of the company’s stock valued at $2,673,000 after buying an additional 79,200 shares in the last quarter. Finally, A.R.T. Advisors LLC bought a new stake in tronc during the fourth quarter valued at approximately $181,000. 37.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of tronc, Inc. (TRNC) traded up 1.37% during midday trading on Friday, reaching $12.58. 76,249 shares of the company’s stock traded hands. The stock has a 50 day moving average of $12.76 and a 200-day moving average of $13.22. tronc, Inc. has a 12 month low of $8.76 and a 12 month high of $17.93. The stock has a market cap of $412.94 million, a P/E ratio of 35.24 and a beta of 1.77.
tronc (NASDAQ:TRNC) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.35. The firm had revenue of $369.79 million during the quarter, compared to analysts’ expectations of $375.05 million. tronc had a net margin of 0.83% and a return on equity of 60.22%. On average, equities research analysts forecast that tronc, Inc. will post $0.25 EPS for the current fiscal year.
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TRNC has been the topic of several research reports. Zacks Investment Research raised shares of tronc from a “strong sell” rating to a “hold” rating in a research report on Friday, May 5th. Noble Financial reaffirmed a “buy” rating on shares of tronc in a research report on Saturday, May 6th. TheStreet cut shares of tronc from a “c-” rating to a “d” rating in a research report on Friday, May 26th. Finally, ValuEngine cut shares of tronc from a “buy” rating to a “hold” rating in a research report on Friday, June 9th.
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.
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