Todays Report: Today, Tronc Inc. (TRNC) Director Michael W. Ferro, Jr. Buys 42,126 Shares

Today, Tronc Inc. (TRNC) Director Michael W. Ferro, Jr. Buys 42,126 Shares

Tronc Inc. (NASDAQ:TRNC) Director Michael W. Ferro, Jr. acquired 42,126 shares of the firm’s stock in a transaction on Monday, November 28th. The shares were purchased at an average cost of $12.93 per share, for a total transaction of $544,689.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of Tronc Inc. (NASDAQ:TRNC) remained flat at $12.88 during trading on Monday. The company had a trading volume of 260,237 shares. The company’s market capitalization is $469.19 million. The firm has a 50 day moving average price of $13.73 and a 200 day moving average price of $14.60. Tronc Inc. has a 52 week low of $5.45 and a 52 week high of $17.93.

Tronc (NASDAQ:TRNC) last posted its earnings results on Tuesday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.37. The company earned $378.24 million during the quarter. Tronc had a negative net margin of 0.79% and a positive return on equity of 124.45%. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.07) EPS. On average, equities research analysts forecast that Tronc Inc. will post ($0.03) earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its stake in Tronc by 0.5% in the third quarter. Ameriprise Financial Inc. now owns 33,069 shares of the company’s stock worth $558,000 after buying an additional 180 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Tronc by 4.7% in the third quarter. BlackRock Inc. now owns 6,654 shares of the company’s stock valued at $112,000 after buying an additional 298 shares during the period. California State Teachers Retirement System boosted its stake in shares of Tronc by 1.1% in the third quarter. California State Teachers Retirement System now owns 56,530 shares of the company’s stock valued at $954,000 after buying an additional 600 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Tronc by 3.8% in the third quarter. Wells Fargo & Company MN now owns 19,722 shares of the company’s stock valued at $332,000 after buying an additional 722 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Tronc by 2.8% in the third quarter. Bank of New York Mellon Corp now owns 109,479 shares of the company’s stock valued at $1,848,000 after buying an additional 2,984 shares during the period. Institutional investors own 66.25% of the company’s stock.

Several analysts have weighed in on TRNC shares. TheStreet cut shares of Tronc from a “hold” rating to a “sell” rating in a research note on Wednesday, November 9th. Noble Financial started coverage on shares of Tronc in a research note on Tuesday, August 23rd. They set a “buy” rating and a $21.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Tronc from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Thursday, November 3rd.

Tronc Company Profile

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