tronc, Inc. (TRNC) Stake Lowered by Parametric Portfolio Associates LLC
Parametric Portfolio Associates LLC decreased its position in shares of tronc, Inc. (NASDAQ:TRNC) by 9.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 113,157 shares of the company’s stock after selling 11,229 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.34% of tronc worth $1,459,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Citigroup Inc. lifted its holdings in tronc by 20,605.2% during the 2nd quarter. Citigroup Inc. now owns 12,009 shares of the company’s stock worth $155,000 after buying an additional 11,951 shares in the last quarter. LMR Partners LLP acquired a new position in tronc during the 2nd quarter worth $172,000. KCG Holdings Inc. acquired a new position in tronc during the 1st quarter worth $189,000. Alliancebernstein L.P. acquired a new position in tronc during the 2nd quarter worth $197,000. Finally, Trexquant Investment LP lifted its holdings in tronc by 21.2% during the 2nd quarter. Trexquant Investment LP now owns 15,600 shares of the company’s stock worth $201,000 after buying an additional 2,724 shares in the last quarter. 35.29% of the stock is currently owned by hedge funds and other institutional investors.
tronc, Inc. (TRNC) opened at $15.71 on Tuesday. tronc, Inc. has a 1-year low of $10.80 and a 1-year high of $15.90. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 4.98. The stock has a market capitalization of $519.43, a price-to-earnings ratio of 11.20 and a beta of 1.73.
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Several research firms have issued reports on TRNC. Zacks Investment Research raised tronc from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Wednesday, August 9th. ValuEngine raised tronc from a “hold” rating to a “buy” rating in a report on Friday, October 27th. Finally, Noble Financial reaffirmed a “buy” rating on shares of tronc in a report on Thursday, September 7th.
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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