Alliancebernstein L.P. Purchases New Position in tronc, Inc. (TRNC)
Alliancebernstein L.P. purchased a new stake in tronc, Inc. (NASDAQ:TRNC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 15,300 shares of the company’s stock, valued at approximately $197,000.
Several other large investors have also recently made changes to their positions in TRNC. Spark Investment Management LLC increased its stake in shares of tronc by 405.8% in the second quarter. Spark Investment Management LLC now owns 87,500 shares of the company’s stock valued at $1,127,000 after purchasing an additional 70,200 shares during the period. Marshall Wace North America L.P. acquired a new stake in shares of tronc in the second quarter valued at approximately $837,000. Renaissance Technologies LLC increased its stake in shares of tronc by 28.2% in the first quarter. Renaissance Technologies LLC now owns 247,100 shares of the company’s stock valued at $3,440,000 after purchasing an additional 54,400 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of tronc by 51.0% in the first quarter. Dimensional Fund Advisors LP now owns 143,273 shares of the company’s stock valued at $1,994,000 after purchasing an additional 48,400 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of tronc by 3.9% in the first quarter. Vanguard Group Inc. now owns 1,015,745 shares of the company’s stock valued at $14,140,000 after purchasing an additional 38,463 shares during the period. Institutional investors own 35.29% of the company’s stock.
Several brokerages have commented on TRNC. Zacks Investment Research upgraded shares of tronc from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Wednesday, August 9th. ValuEngine upgraded shares of tronc from a “hold” rating to a “buy” rating in a research note on Friday, October 27th. Finally, Noble Financial restated a “buy” rating on shares of tronc in a research note on Thursday, September 7th.
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Shares of tronc, Inc. (NASDAQ TRNC) opened at $15.71 on Tuesday. tronc, Inc. has a 12 month low of $10.80 and a 12 month high of $15.90. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 4.98. The company has a market cap of $519.43, a P/E ratio of 11.20 and a beta of 1.73.
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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