Tower Research Capital LLC TRC Takes Position in Tribune (NYSE:TRCO)

Tower Research Capital LLC TRC purchased a new stake in shares of Tribune (NYSE:TRCO) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,259 shares of the company’s stock, valued at approximately $197,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Tribune by 1.1% during the second quarter. BlackRock Inc. now owns 3,698,478 shares of the company’s stock valued at $170,943,000 after buying an additional 40,958 shares during the last quarter. HighTower Advisors LLC raised its holdings in Tribune by 5.0% during the second quarter. HighTower Advisors LLC now owns 46,191 shares of the company’s stock worth $2,134,000 after purchasing an additional 2,200 shares in the last quarter. Banco de Sabadell S.A bought a new stake in Tribune during the second quarter worth approximately $1,038,000. Parametric Portfolio Associates LLC raised its holdings in Tribune by 26.7% during the second quarter. Parametric Portfolio Associates LLC now owns 410,175 shares of the company’s stock worth $18,958,000 after purchasing an additional 86,542 shares in the last quarter. Finally, MUFG Securities EMEA plc raised its holdings in Tribune by 375.9% during the second quarter. MUFG Securities EMEA plc now owns 187,042 shares of the company’s stock worth $8,645,000 after purchasing an additional 147,742 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors.

NYSE:TRCO remained flat at $$46.66 during midday trading on Monday. Tribune has a 12 month low of $36.66 and a 12 month high of $46.68. The firm has a market capitalization of $4.13 billion, a PE ratio of 12.68, a PEG ratio of 2.00 and a beta of 0.51. The company has a 50 day moving average of $46.56 and a 200-day moving average of $46.31. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.87 and a quick ratio of 3.87.

Tribune (NYSE:TRCO) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.08. The firm had revenue of $484.00 million for the quarter, compared to analyst estimates of $484.33 million. Tribune had a net margin of 18.05% and a return on equity of 8.92%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.99 earnings per share. Equities research analysts anticipate that Tribune will post 2.51 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were given a $0.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.00 annualized dividend and a yield of 2.14%. Tribune’s dividend payout ratio (DPR) is 27.17%.

Tribune Company Profile

Tribune Media Company, through its subsidiaries, operates as a diversified 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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