tronc (NASDAQ:TRNC) Downgraded by Noble Financial

Noble Financial cut shares of tronc (NASDAQ:TRNC) from a buy rating to a hold rating in a research note issued to investors on Monday, February 5th, Marketbeat Ratings reports. The analysts noted that the move was a valuation call.

Other equities research analysts have also recently issued reports about the company. ValuEngine raised tronc from a hold rating to a buy rating in a research note on Friday, October 27th. Zacks Investment Research upgraded tronc from a hold rating to a buy rating and set a $18.00 target price for the company in a research report on Wednesday, November 15th. BidaskClub lowered tronc from a strong-buy rating to a buy rating in a report on Thursday, January 18th. Finally, Sidoti began coverage on tronc in a report on Wednesday, January 17th. They issued a buy rating and a $25.00 price target for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. tronc presently has an average rating of Hold and a consensus price target of $21.50.

tronc (TRNC) traded up $0.12 during trading hours on Monday, reaching $20.40. The company’s stock had a trading volume of 112,300 shares, compared to its average volume of 143,509. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 4.98. tronc has a twelve month low of $10.80 and a twelve month high of $24.74. The company has a market capitalization of $681.38, a PE ratio of 14.70 and a beta of 1.94.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRNC. Citigroup Inc. increased its position in shares of tronc by 20,605.2% in the 2nd quarter. Citigroup Inc. now owns 12,009 shares of the company’s stock valued at $155,000 after acquiring an additional 11,951 shares during the period. Citadel Advisors LLC acquired a new stake in tronc during the 3rd quarter worth about $159,000. SG Americas Securities LLC acquired a new stake in tronc during the 3rd quarter worth about $160,000. Voya Investment Management LLC grew its position in tronc by 21.7% during the 2nd quarter. Voya Investment Management LLC now owns 13,748 shares of the company’s stock worth $177,000 after purchasing an additional 2,451 shares during the period. Finally, Russell Investments Group Ltd. grew its position in tronc by 81.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 12,732 shares of the company’s stock worth $184,000 after purchasing an additional 5,732 shares during the period. 36.67% of the stock is currently owned by hedge funds and other institutional investors.

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tronc Company Profile

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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