tronc, Inc. (NASDAQ:TRNC) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of tronc, Inc. (NASDAQ:TRNC) from a hold rating to a buy rating in a research report released on Wednesday. Zacks Investment Research currently has $14.00 price objective on the stock.

According to Zacks, “Tronc, Inc. is a media company. The Company offers sports, entertainment, business, real estate and travel news and information primarily in the United States. Its portfolio of news and information brands includes daily and weekly titles, digital properties and verticals in markets. Tronc, Inc., formerly known as Tribune Publishing Company, is based in CHICAGO, United States. “

A number of other equities analysts have also weighed in on TRNC. Noble Financial reissued a buy rating on shares of tronc in a research report on Saturday, May 6th. ValuEngine lowered tronc from a buy rating to a hold rating in a research report on Friday, June 9th. Finally, TheStreet raised tronc from a d rating to a c- rating in a research report on Monday, March 13th.

tronc (TRNC) traded down 1.33% during mid-day trading on Wednesday, reaching $12.62. 4,661 shares of the company were exchanged. tronc has a one year low of $8.76 and a one year high of $17.93. The company has a market capitalization of $414.15 million, a PE ratio of 45.07 and a beta of 1.79. The stock has a 50-day moving average price of $11.93 and a 200 day moving average price of $13.36.

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A number of institutional investors have recently modified their holdings of TRNC. AQR Capital Management LLC acquired a new position in shares of tronc during the fourth quarter worth $144,000. Trexquant Investment LP acquired a new position in shares of tronc during the first quarter worth $179,000. A.R.T. Advisors LLC acquired a new position in shares of tronc during the fourth quarter worth $181,000. KCG Holdings Inc. acquired a new position in shares of tronc during the first quarter worth $189,000. Finally, American International Group Inc. raised its position in shares of tronc by 7.1% in the first quarter. American International Group Inc. now owns 16,420 shares of the company’s stock worth $229,000 after buying an additional 1,082 shares during the period. 37.12% of the stock is owned by institutional investors and hedge funds.

tronc Company Profile

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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