Tronc (TRNC) Stock Price Up 1.5%

Tronc (NASDAQ:TRNC) rose 1.5% during trading on Tuesday . The stock traded as high as $19.39 and last traded at $19.28. Approximately 90,417 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 189,301 shares. The stock had previously closed at $19.00.

Several research analysts have weighed in on TRNC shares. Noble Financial upgraded shares of Tronc to a “buy” rating and set a $19.00 price objective on the stock in a research note on Monday, March 12th. BidaskClub lowered shares of Tronc from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 18th. Sidoti started coverage on shares of Tronc in a research note on Wednesday, January 17th. They issued a “buy” rating and a $25.00 price objective on the stock. ValuEngine upgraded shares of Tronc from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Zacks Investment Research lowered shares of Tronc from a “hold” rating to a “sell” rating in a research note on Friday, March 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $20.67.

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The company has a market cap of $604.99, a price-to-earnings ratio of 17.74 and a beta of 2.00. The company has a debt-to-equity ratio of 4.80, a quick ratio of 1.52 and a current ratio of 1.56.

Tronc (NASDAQ:TRNC) last released its quarterly earnings data on Wednesday, March 7th. The company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.35). Tronc had a net margin of 0.36% and a return on equity of 53.46%. The company had revenue of $435.02 million during the quarter, compared to analyst estimates of $424.20 million. equities research analysts expect that Tronc will post 0.39 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC increased its stake in shares of Tronc by 67.4% during the 4th quarter. Acadian Asset Management LLC now owns 715,384 shares of the company’s stock worth $12,584,000 after purchasing an additional 287,998 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Tronc by 37.5% during the 4th quarter. Renaissance Technologies LLC now owns 501,700 shares of the company’s stock worth $8,825,000 after buying an additional 136,700 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Tronc by 27.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 364,899 shares of the company’s stock worth $5,302,000 after buying an additional 78,322 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Tronc by 38.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 280,094 shares of the company’s stock worth $4,070,000 after buying an additional 77,799 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Tronc by 12.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 233,099 shares of the company’s stock worth $3,382,000 after buying an additional 26,299 shares during the period. Institutional investors own 38.53% of the company’s stock.

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About Tronc

tronc, Inc, a media company, publishes newspapers worldwide. The company operates in two segments, troncM and troncX. 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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