663,197 Shares in Tribune Media Company (TRCO) Acquired by SG Americas Securities LLC
SG Americas Securities LLC bought a new position in Tribune Media Company (NYSE:TRCO) during the second quarter, Holdings Channel reports. The firm bought 663,197 shares of the company’s stock, valued at approximately $27,039,000.
Several other hedge funds have also recently added to or reduced their stakes in TRCO. BlackRock Inc. raised its stake in Tribune Media by 10,758.5% in the first quarter. BlackRock Inc. now owns 3,059,287 shares of the company’s stock worth $114,020,000 after buying an additional 3,031,113 shares during the last quarter. Canyon Capital Advisors LLC purchased a new stake in Tribune Media during the first quarter worth $51,808,000. Morgan Stanley raised its stake in Tribune Media by 59.6% in the first quarter. Morgan Stanley now owns 2,811,082 shares of the company’s stock worth $104,769,000 after buying an additional 1,049,539 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in Tribune Media during the first quarter worth $32,630,000. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in Tribune Media during the first quarter worth $25,152,000.
Tribune Media Company (NYSE TRCO) opened at 40.16 on Tuesday. Tribune Media Company has a one year low of $27.75 and a one year high of $43.04. The firm has a market capitalization of $3.50 billion, a P/E ratio of 72.36 and a beta of 1.52. The company has a 50-day moving average price of $41.14 and a 200-day moving average price of $38.15.
Tribune Media (NYSE:TRCO) last posted its quarterly earnings data on Wednesday, August 9th. The company reported $0.36 earnings per share (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 analysts’ expectations of $472.56 million. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Tribune Media’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that Tribune Media Company will post $1.31 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $1.00 annualized dividend and a yield of 2.49%. Tribune Media’s dividend payout ratio is presently 204.08%.
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A number of analysts recently weighed in on TRCO shares. Gabelli lowered shares of Tribune Media from a “buy” rating to a “sell” rating in a research note on Tuesday, May 9th. Wells Fargo & Company lowered shares of Tribune Media from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 20th. BWS Financial cut their target price on shares of Tribune Media from $54.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, May 1st. Jefferies Group LLC restated a “hold” rating and set a $47.00 target price (up from $36.00) on shares of Tribune Media in a research note on Thursday, May 11th. Finally, Zacks Investment Research lowered shares of Tribune Media from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $44.50.
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