tronc (TRNC) Cut to Hold at Zacks Investment Research

tronc (NASDAQ:TRNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “Tronc, Inc. is a media company. The Company offers sports, entertainment, business, real estate and travel news and information primarily in the United States. Its portfolio of news and information brands includes daily and weekly titles, digital properties and verticals in markets. Tronc, Inc., formerly known as Tribune Publishing Company, is based in CHICAGO, United States. “

Several other equities research analysts have also recently issued reports on TRNC. ValuEngine raised tronc from a “hold” rating to a “buy” rating in a report on Friday, October 27th. Noble Financial reaffirmed a “buy” rating on shares of tronc in a report on Thursday, September 7th.

Shares of tronc (NASDAQ TRNC) opened at $17.60 on Friday. tronc has a twelve month low of $10.80 and a twelve month high of $18.24. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.57 and a quick ratio of 1.53. The stock has a market capitalization of $593.01, a PE ratio of 12.79 and a beta of 1.85.

Several hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in shares of tronc in the third quarter worth about $193,000. Algert Global LLC increased its stake in tronc by 77.5% during the third quarter. Algert Global LLC now owns 180,607 shares of the company’s stock worth $2,624,000 after acquiring an additional 78,841 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in tronc by 9.7% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 195,301 shares of the company’s stock worth $2,837,000 after acquiring an additional 17,200 shares during the last quarter. OxFORD Asset Management LLP increased its stake in tronc by 47.7% during the third quarter. OxFORD Asset Management LLP now owns 57,339 shares of the company’s stock worth $832,000 after acquiring an additional 18,520 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in tronc by 27.3% during the third quarter. Dimensional Fund Advisors LP now owns 364,899 shares of the company’s stock worth $5,302,000 after acquiring an additional 78,322 shares during the last quarter. 36.04% of the stock is currently owned by hedge funds and other institutional investors.

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About tronc

tronc, Inc, formerly Tribune Publishing Company, is a media company. As of December 25, 2016, the Company operated over 150 titles in nine markets. Its portfolio of news and information brands are in markets, including Los Angeles and San Diego, California; Chicago, Illinois; Fort Lauderdale and Orlando, Florida; Baltimore, Maryland; Hartford, Connecticut; Allentown, Pennsylvania, and Newport News, Virginia.

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