Wells Fargo & Company MN trimmed its position in shares of Tribune Media Company (NYSE:TRCO) by 2.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,553 shares of the company’s stock after selling 3,524 shares during the quarter. Wells Fargo & Company MN owned approximately 0.14% of Tribune Media worth $4,915,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Nationwide Fund Advisors purchased a new position in shares of Tribune Media during the 1st quarter valued at approximately $103,000. Asset Management One Co. Ltd. purchased a new position in shares of Tribune Media during the 1st quarter valued at approximately $114,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Tribune Media by 9.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,097 shares of the company’s stock valued at $126,000 after purchasing an additional 272 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Tribune Media by 237.1% during the 1st quarter. Sei Investments Co. now owns 5,370 shares of the company’s stock valued at $200,000 after purchasing an additional 3,777 shares in the last quarter. Finally, Mizuho Securities USA LLC purchased a new position in shares of Tribune Media during the 2nd quarter valued at approximately $204,000. 97.12% of the stock is owned by hedge funds and other institutional investors.
Shares of Tribune Media Company (NYSE TRCO) opened at 40.60 on Friday. The firm has a market cap of $3.54 billion, a PE ratio of 73.15 and a beta of 1.53. The company has a 50-day moving average of $40.38 and a 200-day moving average of $39.89. Tribune Media Company has a 1-year low of $27.75 and a 1-year high of $43.04.
Tribune Media (NYSE:TRCO) last released its quarterly earnings data on Wednesday, August 9th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.07). The business had revenue of $469.50 million during the quarter, compared to analysts’ expectations of $472.56 million. Tribune Media had a return on equity of 4.38% and a net margin of 2.49%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. Analysts predict that Tribune Media Company will post $1.29 earnings per share for the current fiscal year.
Several equities analysts have recently weighed in on TRCO shares. Zacks Investment Research raised shares of Tribune Media from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. Jefferies Group LLC reissued a “hold” rating and issued a $42.00 price target on shares of Tribune Media in a research note on Monday, August 14th. Finally, BidaskClub raised shares of Tribune Media from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $44.50.
Tribune Media Company 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, 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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