P Schoenfeld Asset Management LP Has $30.15 Million Holdings in Tribune (TRCO)

P Schoenfeld Asset Management LP raised its holdings in Tribune (NYSE:TRCO) by 61.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 664,381 shares of the company’s stock after purchasing an additional 252,381 shares during the period. Tribune comprises 3.3% of P Schoenfeld Asset Management LP’s holdings, making the stock its 9th largest position. P Schoenfeld Asset Management LP’s holdings in Tribune were worth $30,150,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of TRCO. Barclays PLC grew its stake in shares of Tribune by 892.0% in the fourth quarter. Barclays PLC now owns 301,180 shares of the company’s stock valued at $13,667,000 after buying an additional 270,818 shares in the last quarter. Telemetry Investments L.L.C. grew its stake in shares of Tribune by 67.9% in the fourth quarter. Telemetry Investments L.L.C. now owns 23,500 shares of the company’s stock valued at $1,066,000 after buying an additional 9,500 shares in the last quarter. Gardner Lewis Asset Management L P grew its stake in shares of Tribune by 940.0% in the fourth quarter. Gardner Lewis Asset Management L P now owns 750,113 shares of the company’s stock valued at $34,040,000 after buying an additional 677,988 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of Tribune in the fourth quarter valued at $14,703,000. Finally, LMR Partners LLP acquired a new stake in shares of Tribune in the fourth quarter valued at $7,715,000. 94.48% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently weighed in on the company. Gabelli assumed coverage on Tribune in a research note on Tuesday, November 27th. They issued a “buy” rating for the company. Zacks Investment Research raised Tribune from a “sell” rating to a “hold” rating in a research note on Wednesday, February 27th. FinnCap assumed coverage on Tribune in a research note on Tuesday, November 27th. They issued a “buy” rating for the company. ValuEngine raised Tribune from a “sell” rating to a “hold” rating in a research note on Saturday, December 1st. Finally, Wolfe Research assumed coverage on Tribune in a research note on Friday, December 7th. They issued an “underperform” rating and a $44.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Tribune currently has a consensus rating of “Hold” and a consensus target price of $42.17.

TRCO opened at $46.12 on Friday. Tribune has a 12 month low of $31.61 and a 12 month high of $46.46. The firm has a market cap of $4.05 billion, a P/E ratio of 12.53, a P/E/G ratio of 2.58 and a beta of 0.57. The company has a quick ratio of 3.64, a current ratio of 3.64 and a debt-to-equity ratio of 0.83.

Tribune (NYSE:TRCO) last released its earnings results on Friday, March 1st. The company reported $1.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.02. Tribune had a return on equity of 9.50% and a net margin of 20.53%. The firm had revenue of $578.73 million during the quarter, compared to analysts’ expectations of $577.59 million. During the same period in the previous year, the firm posted $0.81 EPS. Tribune’s revenue for the quarter was up 18.3% on a year-over-year basis. As a group, research analysts forecast that Tribune will post 1.92 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 25th. Investors of record on Monday, March 11th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, March 8th. This represents a $1.00 annualized dividend and a yield of 2.17%. Tribune’s payout ratio is 27.17%.

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Tribune Profile

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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Institutional Ownership by Quarter for Tribune (NYSE:TRCO)

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