S. Muoio & CO. LLC Increases Stake in Tribune Media Company (TRCO)
S. Muoio & CO. LLC raised its position in Tribune Media Company (NYSE:TRCO) by 392.9% during the second quarter, Holdings Channel reports. The institutional investor owned 138,000 shares of the company’s stock after buying an additional 110,000 shares during the period. Tribune Media makes up approximately 2.7% of S. Muoio & CO. LLC’s investment portfolio, making the stock its 8th largest position. S. Muoio & CO. LLC’s holdings in Tribune Media were worth $5,626,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Creative Planning raised its position in shares of Tribune Media by 150.0% in the first quarter. Creative Planning now owns 3,000 shares of the company’s stock worth $112,000 after buying an additional 1,800 shares in the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of Tribune Media during the first quarter worth $1,349,000. Murphy Pohlad Asset Management LLC raised its position in shares of Tribune Media by 66.4% in the first quarter. Murphy Pohlad Asset Management LLC now owns 66,790 shares of the company’s stock worth $2,489,000 after buying an additional 26,655 shares in the last quarter. Nationwide Fund Advisors acquired a new position in shares of Tribune Media during the first quarter worth $103,000. Finally, First Manhattan Co. raised its position in shares of Tribune Media by 12.6% in the first quarter. First Manhattan Co. now owns 220,715 shares of the company’s stock worth $8,060,000 after buying an additional 24,675 shares in the last quarter.
Tribune Media Company (NYSE TRCO) opened at 40.09 on Tuesday. The company has a 50 day moving average price of $41.14 and a 200 day moving average price of $38.15. Tribune Media Company has a 12 month low of $27.75 and a 12 month high of $43.04. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 72.23 and a beta of 1.52.
Tribune Media (NYSE:TRCO) last posted its quarterly earnings data on Wednesday, August 9th. The company reported $0.36 earnings per share for the quarter, missing the 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 return on equity of 4.38% and a net margin of 2.49%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Equities research analysts predict that Tribune Media Company will post $1.31 earnings per share for the current year.
The business also recently announced 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, August 17th. Tribune Media’s dividend payout ratio (DPR) is currently 204.08%.
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TRCO has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered Tribune Media from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 20th. BWS Financial reduced their price target on Tribune Media from $54.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, May 1st. Gabelli lowered Tribune Media from a “buy” rating to a “sell” rating in a research note on Tuesday, May 9th. Morgan Stanley raised Tribune Media from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $37.00 to $43.50 in a research note on Tuesday, May 9th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $47.00 target price (up from $36.00) on shares of Tribune Media in a research report on Thursday, May 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Tribune Media presently has an average rating of “Hold” and a consensus target price of $44.50.
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