Nisa Investment Advisors LLC Sells 22,100 Shares of Tribune Media Company (TRCO)
Nisa Investment Advisors LLC cut its position in Tribune Media Company (NYSE:TRCO) by 61.0% during the second quarter, Holdings Channel reports. The institutional investor owned 14,100 shares of the company’s stock after selling 22,100 shares during the period. Nisa Investment Advisors LLC’s holdings in Tribune Media were worth $570,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in TRCO. BlackRock Inc. increased its position in shares of 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 acquired a new position in shares of Tribune Media during the first quarter worth about $51,808,000. Morgan Stanley increased its position in shares of 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 acquired a new position in shares of Tribune Media during the first quarter worth about $32,630,000. Finally, MARSHALL WACE ASIA Ltd acquired a new position in shares of Tribune Media during the first quarter worth about $25,152,000.
Tribune Media Company (NYSE:TRCO) traded down 0.54% on Thursday, reaching $40.37. The company’s stock had a trading volume of 273,389 shares. The company’s market capitalization is $3.51 billion. Tribune Media Company has a 1-year low of $27.75 and a 1-year high of $43.04. The firm’s 50 day moving average price is $41.17 and its 200-day moving average price is $37.83.
Tribune Media (NYSE:TRCO) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.07. The firm had revenue of $469.50 million for the quarter, compared to analysts’ expectations of $472.56 million. Tribune Media had a negative net margin of 4.09% and a positive return on equity of 4.40%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 EPS. Equities analysts forecast that Tribune Media Company will post $1.39 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, August 17th. This represents a $1.00 annualized dividend and a yield of 2.46%. Tribune Media’s payout ratio is presently -108.70%.
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A number of research analysts have recently issued reports on TRCO shares. Wells Fargo & Company downgraded Tribune Media from an “outperform” rating to a “market perform” rating in a report on Thursday, April 20th. Morgan Stanley raised Tribune Media from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $37.00 to $43.50 in a report on Tuesday, May 9th. Zacks Investment Research downgraded Tribune Media from a “hold” rating to a “strong sell” rating in a report on Thursday, July 13th. Jefferies Group LLC reaffirmed a “hold” rating and set a $47.00 price target (up from $36.00) on shares of Tribune Media in a report on Thursday, May 11th. Finally, Gabelli downgraded Tribune Media from a “buy” rating to a “sell” rating in a report on Tuesday, May 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Tribune Media has a consensus rating of “Hold” and a consensus price target of $44.50.
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