Quinn Opportunity Partners LLC raised its stake in Tribune Publishing Co (NASDAQ:TPCO) by 10.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 362,164 shares of the company’s stock after acquiring an additional 35,461 shares during the period. Tribune Publishing makes up 0.6% of Quinn Opportunity Partners LLC’s portfolio, making the stock its 28th biggest position. Quinn Opportunity Partners LLC’s holdings in Tribune Publishing were worth $4,270,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new stake in shares of Tribune Publishing in the fourth quarter worth $758,000. Strs Ohio purchased a new stake in shares of Tribune Publishing in the fourth quarter worth $478,000. Meeder Asset Management Inc. purchased a new stake in shares of Tribune Publishing in the fourth quarter worth $84,000. Acadian Asset Management LLC purchased a new stake in shares of Tribune Publishing in the fourth quarter worth $12,095,000. Finally, Peregrine Capital Management LLC grew its stake in shares of Tribune Publishing by 48.3% in the fourth quarter. Peregrine Capital Management LLC now owns 631,268 shares of the company’s stock worth $7,159,000 after acquiring an additional 205,585 shares during the last quarter. 42.48% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:TPCO traded down $0.25 on Thursday, hitting $10.96. The stock had a trading volume of 4,430 shares, compared to its average volume of 107,532. The stock has a market capitalization of $385.47 million, a price-to-earnings ratio of 21.18 and a beta of 1.59. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.16 and a current ratio of 1.21. Tribune Publishing Co has a 52-week low of $10.26 and a 52-week high of $18.75.
A number of equities research analysts have recently commented on TPCO shares. Noble Financial set a $19.00 target price on Tribune Publishing and gave the stock a “buy” rating in a research note on Monday, March 18th. Zacks Investment Research raised Tribune Publishing from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Tuesday, January 29th.
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About Tribune Publishing
Tribune Publishing Company, a media company, publishes newspapers worldwide. The company operates in two segments, M and X. It publishes daily newspapers; weekly newspapers; and digital platforms, such as Websites and mobile applications. The company also provides various digital marketing services, which include the development of mobile Websites, search engine marketing and optimization, social media account management, and content marketing for its customers' Web presence for small to medium size businesses.
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