Velanne Asset Management Ltd Acquires 5,775 Shares of Tribune (TRCO)

Velanne Asset Management Ltd boosted its holdings in shares of Tribune (NYSE:TRCO) by 4.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,265 shares of the company’s stock after buying an additional 5,775 shares during the period. Tribune comprises 4.7% of Velanne Asset Management Ltd’s portfolio, making the stock its 11th largest holding. Velanne Asset Management Ltd owned approximately 0.17% of Tribune worth $6,795,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quantamental Technologies LLC bought a new position in shares of Tribune in the fourth quarter valued at about $64,000. PNC Financial Services Group Inc. raised its holdings in shares of Tribune by 23.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,666 shares of the company’s stock valued at $76,000 after buying an additional 321 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Tribune by 7.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,517 shares of the company’s stock valued at $250,000 after buying an additional 402 shares during the last quarter. HRT Financial LLC bought a new position in shares of Tribune in the fourth quarter valued at about $263,000. Finally, Strs Ohio bought a new position in shares of Tribune in the fourth quarter valued at about $308,000. Hedge funds and other institutional investors own 95.34% of the company’s stock.

Separately, Zacks Investment Research raised Tribune from a “sell” rating to a “hold” rating in a report on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $42.17.

NYSE:TRCO traded up $0.01 on Wednesday, hitting $46.19. 7,877 shares of the stock were exchanged, compared to its average volume of 833,791. The stock has a market capitalization of $4.05 billion, a P/E ratio of 12.55, a P/E/G ratio of 2.59 and a beta of 0.57. Tribune has a 52 week low of $31.61 and a 52 week high of $46.46. The company has a current ratio of 3.64, a quick ratio of 3.64 and a debt-to-equity ratio of 0.83.

Tribune (NYSE:TRCO) last announced its quarterly earnings data on Friday, March 1st. The company reported $1.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.02. The firm had revenue of $578.73 million during the quarter, compared to analysts’ expectations of $577.59 million. Tribune had a return on equity of 9.50% and a net margin of 20.53%. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.81 EPS. As a group, equities analysts predict that Tribune will post 1.92 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $1.00 annualized dividend and a yield of 2.16%. Tribune’s dividend payout ratio is currently 27.17%.

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Tribune Profile

Tribune Media Company, through its subsidiaries, operates as a diversified 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, MY 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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Institutional Ownership by Quarter for Tribune (NYSE:TRCO)

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