Tronc Inc. (TRNC) Director Patrick Soon-Shiong Acquires 64,585 Shares of Stock
Tronc Inc. (NASDAQ:TRNC) Director Patrick Soon-Shiong bought 64,585 shares of the stock in a transaction on Friday, November 18th. The stock was purchased at an average cost of $12.79 per share, with a total value of $826,042.15. Following the acquisition, the director now owns 771,186 shares in the company, valued at $9,863,468.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Patrick Soon-Shiong also recently made the following trade(s):
- On Thursday, November 10th, Patrick Soon-Shiong bought 269,076 shares of Tronc stock. The stock was purchased at an average cost of $11.29 per share, with a total value of $3,037,868.04.
- On Monday, November 7th, Patrick Soon-Shiong bought 31,349 shares of Tronc stock. The stock was purchased at an average cost of $9.52 per share, with a total value of $298,442.48.
Shares of Tronc Inc. (NASDAQ:TRNC) traded down 0.62% during midday trading on Monday, hitting $12.72. The stock had a trading volume of 66,906 shares. The stock’s market cap is $463.36 million. The firm’s 50-day moving average price is $14.43 and its 200-day moving average price is $14.48. Tronc Inc. has a 1-year low of $5.45 and a 1-year high of $17.93.
Tronc (NASDAQ:TRNC) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.37. The company earned $378.24 million during the quarter. Tronc had a positive return on equity of 124.45% and a negative net margin of 0.79%. Tronc’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.07) EPS. Analysts forecast that Tronc Inc. will post ($0.03) earnings per share for the current year.
A number of brokerages have issued reports on TRNC. Zacks Investment Research cut Tronc from a “buy” rating to a “hold” rating in a report on Wednesday, November 9th. TheStreet cut Tronc from a “hold” rating to a “sell” rating in a report on Wednesday, November 9th. Finally, Noble Financial began coverage on Tronc in a report on Tuesday, August 23rd. They issued a “buy” rating and a $21.00 target price for the company.
Large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new stake in Tronc during the third quarter valued at about $10,943,000. Seizert Capital Partners LLC acquired a new stake in Tronc during the second quarter valued at about $1,742,000. Ardsley Advisory Partners acquired a new stake in Tronc during the third quarter valued at about $1,507,000. HighVista Strategies LLC acquired a new stake in Tronc during the third quarter valued at about $1,460,000. Finally, Nationwide Fund Advisors raised its stake in Tronc by 305.7% in the third quarter. Nationwide Fund Advisors now owns 67,419 shares of the company’s stock valued at $1,138,000 after buying an additional 50,800 shares in the last quarter. 61.33% of the stock is owned by institutional investors.
tronc, Inc, formerly Tribune Publishing Company, is a content curation and monetization company focused on creating and distributing content across all channels. The Company’s portfolio of news and information brands includes daily and weekly titles, digital properties and verticals in markets across the country.
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