tronc, Inc. (TRNC) Stake Lowered by Morgan Stanley
Morgan Stanley decreased its position in tronc, Inc. (NASDAQ:TRNC) by 26.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 134,357 shares of the company’s stock after selling 48,891 shares during the period. Morgan Stanley owned approximately 0.37% of tronc worth $1,869,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in tronc by 3.9% in the first quarter. Vanguard Group Inc. now owns 1,015,745 shares of the company’s stock worth $14,140,000 after buying an additional 38,463 shares during the period. Geode Capital Management LLC boosted its position in tronc by 8.5% in the first quarter. Geode Capital Management LLC now owns 217,356 shares of the company’s stock worth $3,025,000 after buying an additional 17,112 shares during the period. Norges Bank bought a new position in tronc during the fourth quarter worth $2,359,000. California Public Employees Retirement System boosted its position in tronc by 18.2% in the first quarter. California Public Employees Retirement System now owns 159,400 shares of the company’s stock worth $2,219,000 after buying an additional 24,600 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in tronc by 51.0% in the first quarter. Dimensional Fund Advisors LP now owns 143,273 shares of the company’s stock worth $1,994,000 after buying an additional 48,400 shares during the period. 36.05% of the stock is currently owned by institutional investors and hedge funds.
tronc, Inc. (NASDAQ TRNC) traded up 1.98% during trading on Wednesday, hitting $14.43. 27,806 shares of the stock were exchanged. The company has a market cap of $474.65 million, a price-to-earnings ratio of 40.42 and a beta of 1.77. The stock’s 50 day moving average is $13.01 and its 200-day moving average is $13.21. tronc, Inc. has a one year low of $8.76 and a one year high of $17.93.
tronc (NASDAQ:TRNC) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.35. tronc had a return on equity of 63.98% and a net margin of 0.83%. The business had revenue of $369.79 million for the quarter, compared to analyst estimates of $375.05 million. On average, equities research analysts expect that tronc, Inc. will post $0.81 earnings per share for the current fiscal year.
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TRNC has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of tronc from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. ValuEngine cut shares of tronc from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Noble Financial reaffirmed a “buy” rating on shares of tronc in a research note on Thursday, August 3rd. Finally, TheStreet cut shares of tronc from a “c-” rating to a “d” rating in a research note on Friday, May 26th.
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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