Dimensional Fund Advisors LP Sells 56,667 Shares of Tribune Media Co (TRCO)
Dimensional Fund Advisors LP decreased its holdings in Tribune Media Co (NYSE:TRCO) by 4.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,233,212 shares of the company’s stock after selling 56,667 shares during the period. Dimensional Fund Advisors LP owned about 1.41% of Tribune Media worth $50,389,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Janus Henderson Group PLC bought a new position in Tribune Media in the second quarter worth approximately $1,981,000. Alliancebernstein L.P. raised its stake in Tribune Media by 68.6% in the second quarter. Alliancebernstein L.P. now owns 79,490 shares of the company’s stock worth $3,241,000 after buying an additional 32,356 shares in the last quarter. Alpine Associates Management Inc. bought a new position in Tribune Media in the second quarter worth approximately $108,957,000. Bank of New York Mellon Corp raised its stake in Tribune Media by 5.9% in the third quarter. Bank of New York Mellon Corp now owns 483,518 shares of the company’s stock worth $19,756,000 after buying an additional 27,048 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Tribune Media by 57.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 339,835 shares of the company’s stock worth $13,886,000 after buying an additional 124,419 shares in the last quarter. 90.77% of the stock is owned by institutional investors.
Tribune Media Co (TRCO) opened at $41.87 on Friday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 1.01. Tribune Media Co has a 1-year low of $27.75 and a 1-year high of $43.04. The stock has a market cap of $3,660.00, a price-to-earnings ratio of -60.68, a price-to-earnings-growth ratio of 8.24 and a beta of 1.73.
In other Tribune Media news, insider Tribune L.P. Oaktree sold 7,000,000 shares of Tribune Media stock in a transaction on Monday, December 4th. The shares were sold at an average price of $40.36, for a total value of $282,520,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.55% of the stock is currently owned by insiders.
A number of equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of Tribune Media from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 21st. Deutsche Bank assumed coverage on shares of Tribune Media in a research note on Friday, October 20th. They issued a “hold” rating and a $42.00 price objective for the company. Finally, BidaskClub raised shares of Tribune Media from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $44.70.
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Tribune Media 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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