Tronc Inc. (TRNC) Director Acquires $950,390.25 in Stock
Tronc Inc. (NASDAQ:TRNC) Director Michael W. Ferro, Jr. bought 74,775 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was purchased at an average price of $12.71 per share, with a total value of $950,390.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Tronc Inc. (NASDAQ:TRNC) traded up 0.87% during trading on Tuesday, reaching $12.80. 165,310 shares of the company’s stock were exchanged. Tronc Inc. has a 52 week low of $5.45 and a 52 week high of $17.93. The firm’s market capitalization is $466.28 million. The stock has a 50-day moving average price of $14.19 and a 200 day moving average price of $14.55.
Tronc (NASDAQ:TRNC) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $378.24 million for the quarter. During the same period in the previous year, the business posted ($0.07) EPS. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. Equities research analysts forecast that Tronc Inc. will post ($0.03) earnings per share for the current fiscal year.
Several equities analysts recently issued reports on TRNC shares. Noble Financial started coverage on shares of Tronc in a research note on Tuesday, August 23rd. They issued a “buy” rating and a $21.00 target price for the company. Zacks Investment Research upgraded shares of Tronc from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Thursday, November 3rd. Finally, TheStreet cut shares of Tronc from a “hold” rating to a “sell” rating in a research note on Wednesday, November 9th.
Several institutional investors have recently made changes to their positions in TRNC. BlackRock Inc. boosted its position in shares of Tronc by 4.7% in the third quarter. BlackRock Inc. now owns 6,654 shares of the company’s stock worth $112,000 after buying an additional 298 shares during the last quarter. HighTower Advisors LLC acquired a new position in shares of Tronc during the third quarter worth approximately $210,000. First Trust Advisors LP acquired a new position in shares of Tronc during the third quarter worth approximately $224,000. Algert Global LLC acquired a new position in shares of Tronc during the third quarter worth approximately $294,000. Finally, Gabelli Funds LLC acquired a new position in shares of Tronc during the second quarter worth approximately $298,000. Institutional investors and hedge funds own 61.33% of the company’s stock.
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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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