Prudential Financial Inc. decreased its position in shares of Tribune Media Co. (NYSE:TRCO) by 66.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,150 shares of the company’s stock after selling 90,900 shares during the period. Prudential Financial Inc. owned approximately 0.05% of Tribune Media worth $1,808,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. M&T Bank Corp purchased a new stake in Tribune Media during the second quarter worth approximately $213,000. Bayesian Capital Management LP purchased a new stake in Tribune Media during the first quarter worth approximately $217,000. BNP Paribas Arbitrage SA boosted its stake in Tribune Media by 38.0% in the second quarter. BNP Paribas Arbitrage SA now owns 6,969 shares of the company’s stock worth $273,000 after buying an additional 1,918 shares during the last quarter. Parametrica Management Ltd purchased a new stake in Tribune Media during the second quarter worth approximately $331,000. Finally, Aperio Group LLC purchased a new stake in Tribune Media during the first quarter worth approximately $380,000.
Shares of Tribune Media Co. (NYSE:TRCO) opened at 32.45 on Friday. The company’s 50-day moving average is $35.29 and its 200 day moving average is $37.78. The firm’s market cap is $2.94 billion. Tribune Media Co. has a 52-week low of $26.10 and a 52-week high of $42.23.
Tribune Media (NYSE:TRCO) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. Tribune Media had a negative net margin of 24.18% and a positive return on equity of 3.67%. The company earned $526.10 million during the quarter, compared to analysts’ expectations of $539.10 million. During the same quarter in the previous year, the business posted ($0.04) EPS. The firm’s revenue was up 4.9% on a year-over-year basis. On average, analysts expect that Tribune Media Co. will post $2.19 earnings per share for the current fiscal year.
A number of research analysts have issued reports on the stock. Jefferies Group reaffirmed a “hold” rating on shares of Tribune Media in a report on Thursday, August 25th. Zacks Investment Research upgraded shares of Tribune Media from a “sell” rating to a “hold” rating in a research note on Saturday, August 20th. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Tribune Media in a research note on Monday, September 26th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $44.17.
In other Tribune Media news, insider Matthew Cherniss sold 11,705 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $38.92, for a total transaction of $455,558.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.74% of the company’s stock.