Vanguard Group Inc. Buys 39,661 Shares of tronc, Inc. (TRNC)
Vanguard Group Inc. raised its stake in tronc, Inc. (NASDAQ:TRNC) by 3.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,055,406 shares of the company’s stock after purchasing an additional 39,661 shares during the quarter. Vanguard Group Inc. owned 3.22% of tronc worth $13,603,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Citigroup Inc. raised its holdings in shares of tronc by 20,605.2% during the second quarter. Citigroup Inc. now owns 12,009 shares of the company’s stock valued at $155,000 after acquiring an additional 11,951 shares in the last quarter. LMR Partners LLP bought a new position in shares of tronc during the second quarter valued at approximately $172,000. KCG Holdings Inc. bought a new position in shares of tronc during the first quarter valued at approximately $189,000. Alliancebernstein L.P. bought a new position in shares of tronc during the second quarter valued at approximately $197,000. Finally, Trexquant Investment LP raised its holdings in shares of tronc by 21.2% during the second quarter. Trexquant Investment LP now owns 15,600 shares of the company’s stock valued at $201,000 after acquiring an additional 2,724 shares in the last quarter. Hedge funds and other institutional investors own 36.35% of the company’s stock.
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tronc, Inc. (NASDAQ TRNC) opened at $16.17 on Monday. The company has a debt-to-equity ratio of 4.98, a quick ratio of 1.53 and a current ratio of 1.57. The company has a market capitalization of $543.29, a P/E ratio of 11.72 and a beta of 1.73. tronc, Inc. has a twelve month low of $10.80 and a twelve month high of $16.20.
A number of equities analysts recently commented on the company. Zacks Investment Research upgraded tronc from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Wednesday, August 9th. ValuEngine upgraded tronc from a “hold” rating to a “buy” rating in a report on Friday, October 27th. Finally, Noble Financial restated a “buy” rating on shares of tronc in a report on Thursday, September 7th.
tronc Company Profile
tronc, Inc, formerly Tribune Publishing Company, is a media company. As of December 25, 2016, the Company operated over 150 titles in nine markets. Its portfolio of news and information brands are in markets, including Los Angeles and San Diego, California; Chicago, Illinois; Fort Lauderdale and Orlando, Florida; Baltimore, Maryland; Hartford, Connecticut; Allentown, Pennsylvania, and Newport News, Virginia.
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