tronc (TRNC) Sees Strong Trading Volume

Shares of tronc Inc (NASDAQ:TRNC) saw an uptick in trading volume on Thursday . 105,400 shares were traded during trading, a decline of 28% from the previous session’s volume of 147,091 shares.The stock last traded at $20.29 and had previously closed at $21.55.

TRNC has been the subject of a number of research reports. Noble Financial cut shares of tronc from a “buy” rating to a “hold” rating in a report on Monday, February 5th. They noted that the move was a valuation call. ValuEngine upgraded shares of tronc from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded shares of tronc from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. BidaskClub cut shares of tronc from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, Sidoti initiated coverage on shares of tronc in a report on Wednesday, January 17th. They issued a “buy” rating and a $25.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. tronc has a consensus rating of “Buy” and an average target price of $21.50.

The company has a debt-to-equity ratio of 4.98, a current ratio of 1.57 and a quick ratio of 1.53. The stock has a market capitalization of $699.18, a price-to-earnings ratio of 29.31 and a beta of 1.74.

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of tronc by 12.7% during the third quarter. JPMorgan Chase & Co. now owns 233,099 shares of the company’s stock valued at $3,382,000 after buying an additional 26,299 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of tronc by 43.0% during the third quarter. Prudential Financial Inc. now owns 92,220 shares of the company’s stock valued at $1,340,000 after buying an additional 27,710 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of tronc by 3.9% during the second quarter. Vanguard Group Inc. now owns 1,055,406 shares of the company’s stock valued at $13,603,000 after buying an additional 39,661 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of tronc by 38.2% during the second quarter. TIAA CREF Investment Management LLC now owns 95,596 shares of the company’s stock valued at $1,232,000 after buying an additional 26,445 shares during the last quarter. Finally, Nationwide Fund Advisors grew its holdings in shares of tronc by 24.5% during the second quarter. Nationwide Fund Advisors now owns 79,476 shares of the company’s stock valued at $1,024,000 after buying an additional 15,655 shares during the last quarter. Hedge funds and other institutional investors own 36.75% of the company’s stock.

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About tronc

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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