Gotham Asset Management LLC lowered its position in Tribune (NYSE:TRCO) by 46.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,498 shares of the company’s stock after selling 136,347 shares during the period. Gotham Asset Management LLC owned about 0.18% of Tribune worth $7,147,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in TRCO. Baupost Group LLC MA raised its holdings in shares of Tribune by 100.1% in the third quarter. Baupost Group LLC MA now owns 5,996,042 shares of the company’s stock valued at $230,428,000 after purchasing an additional 3,000,000 shares during the last quarter. Water Island Capital LLC grew its position in Tribune by 1,091.3% during the fourth quarter. Water Island Capital LLC now owns 1,979,797 shares of the company’s stock valued at $89,843,000 after buying an additional 1,813,607 shares during the period. Soros Fund Management LLC bought a new position in Tribune during the third quarter valued at about $61,488,000. Citadel Advisors LLC bought a new position in Tribune during the third quarter valued at about $42,445,000. Finally, Gamco Investors INC. ET AL grew its position in Tribune by 46.0% during the fourth quarter. Gamco Investors INC. ET AL now owns 3,000,304 shares of the company’s stock valued at $136,154,000 after buying an additional 945,058 shares during the period. Institutional investors own 95.34% of the company’s stock.
TRCO traded down $0.03 during trading on Monday, hitting $46.16. 1,152,000 shares of the company traded hands, compared to its average volume of 1,138,246. The firm has a market cap of $4.05 billion, a P/E ratio of 12.54, a PEG ratio of 2.84 and a beta of 0.57. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.64 and a current ratio of 3.64. Tribune has a one year low of $31.61 and a one year high of $46.46.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, March 8th. This represents a $1.00 dividend on an annualized basis and a yield of 2.17%. Tribune’s dividend payout ratio is presently 27.17%.
Separately, Zacks Investment Research upgraded shares of Tribune from a “sell” rating to a “hold” rating in a research report on Wednesday, February 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $42.17.
Tribune Company 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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