K2 Principal Fund L.P. Invests $1.22 Million in Tribune Media Company (TRCO)
K2 Principal Fund L.P. acquired a new stake in Tribune Media Company (NYSE:TRCO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 30,000 shares of the company’s stock, valued at approximately $1,223,000.
Several other institutional investors also recently bought and sold shares of TRCO. Nationwide Fund Advisors acquired a new stake in Tribune Media during the first quarter valued at approximately $103,000. Asset Management One Co. Ltd. acquired a new stake in Tribune Media during the first quarter valued at approximately $114,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Tribune Media by 9.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,097 shares of the company’s stock valued at $126,000 after purchasing an additional 272 shares during the last quarter. Mizuho Securities USA LLC acquired a new stake in Tribune Media during the second quarter valued at approximately $204,000. Finally, Sei Investments Co. lifted its stake in Tribune Media by 237.1% during the first quarter. Sei Investments Co. now owns 5,370 shares of the company’s stock valued at $200,000 after purchasing an additional 3,777 shares during the last quarter. Institutional investors and hedge funds own 97.13% of the company’s stock.
Several research firms recently commented on TRCO. BidaskClub raised shares of Tribune Media from a “sell” rating to a “hold” rating in a research note on Wednesday. Jefferies Group LLC reissued a “hold” rating and set a $42.00 target price on shares of Tribune Media in a research note on Monday, August 14th. Finally, Zacks Investment Research raised shares of Tribune Media from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Tribune Media has a consensus rating of “Hold” and an average target price of $44.50.
Tribune Media Company (NYSE:TRCO) traded up 0.12% during mid-day trading on Friday, reaching $40.38. 102,511 shares of the company traded hands. The stock’s 50-day moving average price is $40.26 and its 200-day moving average price is $39.59. Tribune Media Company has a one year low of $27.75 and a one year high of $43.04. The firm has a market cap of $3.52 billion, a PE ratio of 72.76 and a beta of 1.53.
Tribune Media (NYSE:TRCO) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.07). Tribune Media had a return on equity of 4.38% and a net margin of 2.49%. The business had revenue of $469.50 million for the quarter, compared to analyst estimates of $472.56 million. During the same quarter in the prior year, the firm earned $0.52 EPS. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. Analysts forecast that Tribune Media Company will post $1.29 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Thursday, August 17th. Tribune Media’s dividend payout ratio is 204.08%.
Tribune Media Company Profile
Tribune Media Company, through its subsidiaries, operates as a media and entertainment company in the United States. It offers news, entertainment, and sports programming through Tribune Broadcasting local television stations, including FOX television affiliates, CW Network, LLC television affiliates, CBS television affiliates, ABC television affiliates, NBC television affiliates, and independent television stations; and television series and movies on WGN America, a national general entertainment cable network.
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