Insider Buying: Tronc Inc. (TRNC) Director Purchases 84,675 Shares of Stock
Tronc Inc. (NASDAQ:TRNC) Director Patrick Soon-Shiong purchased 84,675 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The shares were acquired at an average price of $12.92 per share, for a total transaction of $1,094,001.00. Following the acquisition, the director now directly owns 900,666 shares in the company, valued at approximately $11,636,604.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Patrick Soon-Shiong also recently made the following trade(s):
- On Friday, November 18th, Patrick Soon-Shiong purchased 64,585 shares of Tronc stock. The shares were acquired at an average price of $12.79 per share, for a total transaction of $826,042.15.
- On Thursday, November 10th, Patrick Soon-Shiong purchased 269,076 shares of Tronc stock. The shares were acquired at an average price of $11.29 per share, for a total transaction of $3,037,868.04.
- On Monday, November 7th, Patrick Soon-Shiong purchased 31,349 shares of Tronc stock. The shares were acquired at an average price of $9.52 per share, for a total transaction of $298,442.48.
Shares of Tronc Inc. (NASDAQ:TRNC) remained flat at $12.88 on Monday. The company’s stock had a trading volume of 260,237 shares. The company’s 50-day moving average is $13.73 and its 200 day moving average is $14.60. Tronc Inc. has a 12 month low of $5.45 and a 12 month high of $17.93. The firm’s market cap is $469.19 million.
Tronc (NASDAQ:TRNC) last issued its earnings results on Tuesday, November 1st. The company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ 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 earned $378.24 million during the quarter. During the same period in the previous year, the company posted ($0.07) EPS. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. On average, equities analysts anticipate that Tronc Inc. will post ($0.03) earnings per share for the current year.
A number of research analysts have recently weighed in on TRNC shares. Zacks Investment Research upgraded shares of Tronc from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Thursday, November 3rd. Noble Financial started coverage on shares of Tronc in a report on Tuesday, August 23rd. They set a “buy” rating and a $21.00 price target on the stock. Finally, TheStreet downgraded shares of Tronc from a “hold” rating to a “sell” rating in a report on Wednesday, November 9th.
Large investors have recently modified their holdings of the stock. BlackRock Fund Advisors boosted its position in Tronc by 5.0% in the third quarter. BlackRock Fund Advisors now owns 740,783 shares of the company’s stock valued at $12,504,000 after buying an additional 35,013 shares during the period. Acadian Asset Management LLC bought a new position in Tronc during the third quarter valued at $10,943,000. Northern Trust Corp boosted its position in Tronc by 4.6% in the third quarter. Northern Trust Corp now owns 293,032 shares of the company’s stock valued at $4,946,000 after buying an additional 12,965 shares during the period. Credit Suisse AG boosted its position in Tronc by 10.8% in the third quarter. Credit Suisse AG now owns 256,586 shares of the company’s stock valued at $4,331,000 after buying an additional 25,087 shares during the period. Finally, Seizert Capital Partners LLC bought a new position in Tronc during the second quarter valued at $1,742,000. 66.25% of the stock is owned by hedge funds and other institutional investors.
Tronc Company Profile
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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