tronc Inc (NASDAQ:TRNC) major shareholder Tribune L.P. Oaktree sold 3,741,371 shares of the company’s stock in a transaction that occurred on Thursday, March 23rd. The shares were sold at an average price of $15.00, for a total value of $56,120,565.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Tribune L.P. Oaktree also recently made the following trade(s):
- On Monday, March 20th, Tribune L.P. Oaktree sold 950,000 shares of tronc stock. The shares were sold at an average price of $14.60, for a total value of $13,870,000.00.
Shares of tronc Inc (NASDAQ:TRNC) opened at 13.71 on Monday. The firm’s 50 day moving average price is $13.83 and its 200 day moving average price is $14.23. The stock has a market cap of $499.61 million, a P/E ratio of 72.16 and a beta of 1.79. tronc Inc has a 52-week low of $6.74 and a 52-week high of $17.93.
tronc (NASDAQ:TRNC) last announced its quarterly earnings results on Wednesday, February 22nd. The company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.23. The company earned $425.42 million during the quarter, compared to the consensus estimate of $432 million. tronc had a negative net margin of 0.79% and a positive return on equity of 124.45%. The business’s revenue for the quarter was down 6.9% compared to the same quarter last year. On average, analysts expect that tronc Inc will post $0.22 EPS for the current year.
Several research firms recently commented on TRNC. TheStreet upgraded tronc from a “d” rating to a “c-” rating in a research note on Monday, March 13th. Noble Financial reiterated a “buy” rating on shares of tronc in a research note on Monday, March 13th. Finally, Zacks Investment Research downgraded tronc from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 11th.
Large investors have recently made changes to their positions in the stock. Wells Fargo & Company MN increased its stake in shares of tronc by 3.8% in the third quarter. Wells Fargo & Company MN now owns 19,722 shares of the company’s stock valued at $332,000 after buying an additional 722 shares during the period. Hosking Partners LLP increased its stake in shares of tronc by 13.9% in the third quarter. Hosking Partners LLP now owns 43,136 shares of the company’s stock valued at $728,000 after buying an additional 5,269 shares during the period. Horizon Kinetics LLC increased its stake in shares of tronc by 25.8% in the fourth quarter. Horizon Kinetics LLC now owns 31,102 shares of the company’s stock valued at $431,000 after buying an additional 6,369 shares during the period. AQR Capital Management LLC purchased a new stake in shares of tronc during the fourth quarter valued at $144,000. Finally, A.R.T. Advisors LLC purchased a new stake in shares of tronc during the fourth quarter valued at $181,000. 64.78% of the stock is owned by institutional investors.
tronc Company Profile
tronc, Inc, formerly Tribune Publishing Company, is a content curation and monetization company focused on creating and distributing content across all channels. The Company’s portfolio of news and information brands includes daily and weekly titles, digital properties and verticals in markets across the country.
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