Michael W. Ferro, Jr. Buys 94,449 Shares of Tronc Inc. (TRNC) Stock
Tronc Inc. (NASDAQ:TRNC) Director Michael W. Ferro, Jr. purchased 94,449 shares of the firm’s stock in a transaction on Thursday, November 17th. The shares were purchased at an average cost of $12.73 per share, for a total transaction of $1,202,335.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Tronc Inc. (NASDAQ:TRNC) opened at 12.69 on Tuesday. The stock’s market capitalization is $462.27 million. Tronc Inc. has a one year low of $5.45 and a one year high of $17.93. The stock’s 50 day moving average is $14.32 and its 200 day moving average is $14.55.
Tronc (NASDAQ:TRNC) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $0.22 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.37. Tronc had a negative net margin of 0.79% and a positive return on equity of 124.45%. The firm had revenue of $378.24 million for the quarter. During the same quarter last year, the firm posted ($0.07) earnings per share. Tronc’s revenue was down 6.8% compared to the same quarter last year. On average, equities analysts forecast that Tronc Inc. will post ($0.03) EPS for the current year.
A number of large investors have recently modified their holdings of TRNC. Gabelli Funds LLC acquired a new stake in shares of Tronc during the second quarter valued at approximately $298,000. Gabelli Securities Inc. acquired a new stake in shares of Tronc during the second quarter valued at approximately $400,000. Hosking Partners LLP boosted its stake in shares of Tronc by 13.9% in the third quarter. Hosking Partners LLP now owns 43,136 shares of the company’s stock valued at $728,000 after buying an additional 5,269 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Tronc by 2.8% in the third quarter. Bank of New York Mellon Corp now owns 109,479 shares of the company’s stock valued at $1,848,000 after buying an additional 2,984 shares during the period. Finally, First Trust Advisors LP acquired a new stake in shares of Tronc during the third quarter valued at approximately $224,000. Hedge funds and other institutional investors own 61.33% of the company’s stock.
Several research firms have issued reports on TRNC. Zacks Investment Research upgraded shares of Tronc from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Thursday, November 3rd. Noble Financial began coverage on shares of Tronc in a report on Tuesday, August 23rd. They set a “buy” rating and a $21.00 price objective on the stock. Finally, TheStreet lowered shares of Tronc from a “hold” rating to a “sell” rating in a report on Wednesday, November 9th.
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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