Todays Report: Today, Tronc Inc. (TRNC) Director Patrick Soon-Shiong Buys 84,675 Shares of Stock

Today, Tronc Inc. (TRNC) Director Patrick Soon-Shiong Buys 84,675 Shares of Stock

Tronc Inc. (NASDAQ:TRNC) Director Patrick Soon-Shiong acquired 84,675 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The stock was acquired at an average cost of $12.92 per share, for a total transaction of $1,094,001.00. Following the completion of the transaction, the director now directly owns 900,666 shares in the company, valued at approximately $11,636,604.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Patrick Soon-Shiong also recently made the following trade(s): On Friday, November 18th, Patrick Soon-Shiong acquired 64,585 shares of Tronc stock. The stock was acquired at an average cost of $12.79 per share, for a total transaction of $826,042.15. On Thursday, November 10th, Patrick Soon-Shiong acquired 269,076 shares of Tronc stock. The stock was acquired at an average cost of $11.29 per share, for a total transaction of $3,037,868.04. On Monday, November 7th, Patrick Soon-Shiong acquired 31,349 shares of Tronc stock. The stock was acquired at an average cost of $9.52 per share, for a total transaction of $298,442.48.

Tronc Inc. (NASDAQ:TRNC) opened at 12.88 on Tuesday. Tronc Inc. has a 12-month low of $5.45 and a 12-month high of $17.93. The stock’s 50 day moving average price is $13.73 and its 200 day moving average price is $14.60. The company’s market capitalization is $469.19 million.

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

TRNC has been the topic of several analyst reports. TheStreet cut Tronc from a “hold” rating to a “sell” rating in a research report on Wednesday, November 9th. Noble Financial initiated coverage on Tronc in a research report on Tuesday, August 23rd. They issued a “buy” rating and a $21.00 price objective on the stock. Finally, Zacks Investment Research cut Tronc from a “buy” rating to a “hold” rating in a research report on Wednesday, November 9th.

A number of institutional investors have recently modified their holdings of the stock. Ameriprise Financial Inc. raised its position in shares of Tronc by 0.5% in the third quarter. Ameriprise Financial Inc. now owns 33,069 shares of the company’s stock valued at $558,000 after buying an additional 180 shares during the last quarter. BlackRock Inc. raised its position 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 last quarter. California State Teachers Retirement System raised its position 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 last quarter. Wells Fargo & Company MN raised its position 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 last quarter. Finally, Bank of New York Mellon Corp raised its position 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 last quarter. 66.25% of the stock is currently owned by institutional investors.

Tronc Company Profile

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