Prudential Financial Inc. boosted its holdings in shares of tronc, Inc. (NASDAQ:TRNC) by 56.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,510 shares of the company’s stock after purchasing an additional 23,290 shares during the quarter. Prudential Financial Inc. owned approximately 0.20% of tronc worth $832,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in tronc by 51.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 143,273 shares of the company’s stock worth $1,994,000 after purchasing an additional 48,400 shares during the last quarter. Vanguard Group Inc. grew its position in shares of tronc by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 1,015,745 shares of the company’s stock worth $14,140,000 after acquiring an additional 38,463 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in shares of tronc in the 2nd quarter worth approximately $837,000. American International Group Inc. grew its position in shares of tronc by 7.1% in the 1st quarter. American International Group Inc. now owns 16,420 shares of the company’s stock worth $229,000 after acquiring an additional 1,082 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in shares of tronc by 13.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 195,320 shares of the company’s stock worth $2,719,000 after acquiring an additional 23,377 shares in the last quarter. Institutional investors own 36.05% of the company’s stock.
A number of research firms recently issued reports on TRNC. Zacks Investment Research upgraded tronc from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Wednesday, July 5th. Noble Financial restated a “buy” rating on shares of tronc in a research report on Thursday, August 3rd.
tronc, Inc. (TRNC) opened at 14.99 on Tuesday. The firm’s 50-day moving average price is $14.33 and its 200-day moving average price is $13.32. The firm has a market cap of $493.07 million, a price-to-earnings ratio of 41.99 and a beta of 1.74. tronc, Inc. has a 12 month low of $8.76 and a 12 month high of $17.29.
tronc (NASDAQ:TRNC) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.01 by $0.35. tronc had a net margin of 0.83% and a return on equity of 63.98%. The business had revenue of $369.79 million during the quarter, compared to the consensus estimate of $375.05 million. Equities research analysts predict that tronc, Inc. will post $0.37 earnings per share for the current year.
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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