Magnetar Financial LLC Has $142.80 Million Stake in Tribune Media Company (TRCO)

Magnetar Financial LLC grew its holdings in Tribune Media Company (NYSE:TRCO) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,494,856 shares of the company’s stock after purchasing an additional 50,070 shares during the quarter. Tribune Media comprises about 3.2% of Magnetar Financial LLC’s portfolio, making the stock its 5th biggest position. Magnetar Financial LLC owned approximately 4.00% of Tribune Media worth $142,800,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TRCO. Pentwater Capital Management LP bought a new stake in Tribune Media in the 2nd quarter valued at about $228,312,000. Alpine Associates Management Inc. bought a new stake in Tribune Media during the 2nd quarter worth approximately $108,957,000. Goldman Sachs Group Inc. increased its holdings in Tribune Media by 484.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,326,656 shares of the company’s stock worth $54,088,000 after purchasing an additional 1,099,513 shares in the last quarter. York Capital Management Global Advisors LLC increased its holdings in Tribune Media by 208.4% during the 2nd quarter. York Capital Management Global Advisors LLC now owns 1,549,379 shares of the company’s stock worth $63,168,000 after purchasing an additional 1,047,037 shares in the last quarter. Finally, Farallon Capital Management LLC bought a new stake in Tribune Media during the 2nd quarter worth approximately $29,966,000. 90.77% of the stock is currently owned by institutional investors.

A number of brokerages have commented on TRCO. Zacks Investment Research raised Tribune Media from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 15th. BidaskClub raised Tribune Media from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Deutsche Bank began coverage on Tribune Media in a report on Friday, October 20th. They set a “hold” rating and a $42.00 price objective for the company. Finally, Jefferies Group reissued a “hold” rating and set a $42.00 price objective on shares of Tribune Media in a report on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $43.88.

Tribune Media Company (TRCO) traded down $0.37 during mid-day trading on Wednesday, hitting $41.17. The stock had a trading volume of 699,600 shares, compared to its average volume of 1,457,045. The company has a market capitalization of $3,626.48, a price-to-earnings ratio of 28.65, a PEG ratio of 12.47 and a beta of 1.51. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 1.01. Tribune Media Company has a 52 week low of $27.75 and a 52 week high of $43.04.

Tribune Media (NYSE:TRCO) last released its earnings results on Wednesday, November 8th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.06). The business had revenue of $450.53 million during the quarter, compared to the consensus estimate of $459.81 million. Tribune Media had a negative net margin of 6.12% and a positive return on equity of 4.11%. The business’s revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.56 earnings per share. equities research analysts anticipate that Tribune Media Company will post 1.11 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Monday, November 20th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Friday, November 17th. Tribune Media’s dividend payout ratio is presently -75.19%.

In other news, insider Tribune L.P. Oaktree sold 7,000,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $40.36, for a total value of $282,520,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.55% of the company’s stock.

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Tribune Media Profile

Tribune Media Company, through its subsidiaries, operates as a 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, 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 Media (NYSE:TRCO)

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