Tribune (TRCO) Stake Lifted by Millennium Management LLC
Millennium Management LLC grew its position in shares of Tribune (NYSE:TRCO) by 188.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 524,996 shares of the company’s stock after purchasing an additional 342,800 shares during the period. Millennium Management LLC owned approximately 0.60% of Tribune worth $20,092,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank grew its position in shares of Tribune by 10.1% during the 2nd quarter. Amalgamated Bank now owns 16,639 shares of the company’s stock valued at $637,000 after purchasing an additional 1,524 shares in the last quarter. BTG Pactual Global Asset Management Ltd grew its position in shares of Tribune by 1.1% during the 2nd quarter. BTG Pactual Global Asset Management Ltd now owns 139,246 shares of the company’s stock valued at $5,329,000 after purchasing an additional 1,539 shares in the last quarter. Sei Investments Co. grew its position in shares of Tribune by 42.0% during the 1st quarter. Sei Investments Co. now owns 5,786 shares of the company’s stock valued at $235,000 after purchasing an additional 1,712 shares in the last quarter. Rhumbline Advisers grew its position in shares of Tribune by 3.2% during the 1st quarter. Rhumbline Advisers now owns 70,148 shares of the company’s stock valued at $2,842,000 after purchasing an additional 2,145 shares in the last quarter. Finally, NumerixS Investment Technologies Inc grew its position in shares of Tribune by 170.1% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,782 shares of the company’s stock valued at $144,000 after purchasing an additional 2,382 shares in the last quarter. Hedge funds and other institutional investors own 94.18% of the company’s stock.
Shares of NYSE:TRCO opened at $37.88 on Friday. Tribune has a 52-week low of $31.61 and a 52-week high of $43.71. The firm has a market capitalization of $3.33 billion, a P/E ratio of 26.87 and a beta of 1.22. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.86.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Monday, August 20th were given a $0.25 dividend. The ex-dividend date was Friday, August 17th. This represents a $1.00 annualized dividend and a yield of 2.64%. Tribune’s dividend payout ratio (DPR) is presently 70.92%.
TRCO has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Tribune from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 12th. ValuEngine lowered shares of Tribune from a “sell” rating to a “strong sell” rating in a research report on Monday, July 16th. Stephens upgraded shares of Tribune from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $45.00 to $41.00 in a research report on Tuesday, July 17th. Wells Fargo & Co cut their target price on shares of Tribune from $42.00 to $36.00 and set a “market perform” rating for the company in a research report on Wednesday, July 18th. Finally, Evercore ISI initiated coverage on shares of Tribune in a research report on Tuesday, July 31st. They issued a “buy” rating and a $40.00 target price for the company. Two analysts have rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $40.20.
Tribune Media Company, through its subsidiaries, operates as a media and entertainment company in the United States. It offers news, entertainment, and sports programming through Tribune Broadcasting local television stations, including FOX television affiliates, CW Network, LLC television affiliates, CBS television affiliates, ABC television affiliates, MY television affiliates, NBC television affiliates, and independent television stations; and television series and movies on WGN America, a national general entertainment cable network.
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