Tribune Publishing Co (NASDAQ:TPCO) major shareholder Michael W. Ferro, Jr. sold 23,741 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $13.00, for a total transaction of $308,633.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
NASDAQ:TPCO traded up $1.10 during mid-day trading on Wednesday, reaching $10.83. 651 shares of the company were exchanged, compared to its average volume of 103,939. Tribune Publishing Co has a 12 month low of $7.00 and a 12 month high of $15.14. The company has a fifty day moving average of $8.75 and a 200 day moving average of $8.69. The company has a quick ratio of 0.98, a current ratio of 1.01 and a debt-to-equity ratio of 0.31.
Tribune Publishing (NASDAQ:TPCO) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.42). Tribune Publishing had a positive return on equity of 1.03% and a negative net margin of 2.12%. The company had revenue of $236.03 million for the quarter, compared to the consensus estimate of $227.90 million. As a group, research analysts forecast that Tribune Publishing Co will post 0.21 EPS for the current fiscal year.
TPCO has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Tribune Publishing from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. Noble Financial set a $19.00 target price on shares of Tribune Publishing and gave the stock a “buy” rating in a research report on Tuesday, August 20th.
A number of large investors have recently modified their holdings of TPCO. Campbell & CO Investment Adviser LLC bought a new stake in Tribune Publishing during the 2nd quarter worth about $104,000. Nisa Investment Advisors LLC boosted its stake in shares of Tribune Publishing by 3,134.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,600 shares of the company’s stock valued at $61,000 after purchasing an additional 7,365 shares during the last quarter. Strs Ohio boosted its stake in shares of Tribune Publishing by 7.6% in the 2nd quarter. Strs Ohio now owns 45,400 shares of the company’s stock valued at $361,000 after purchasing an additional 3,200 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Tribune Publishing in the 2nd quarter valued at about $186,000. Finally, BNP Paribas Arbitrage SA bought a new position in shares of Tribune Publishing in the 2nd quarter valued at about $33,000. 34.60% of the stock is currently owned by hedge funds and other institutional investors.
Tribune Publishing Company Profile
Tribune Publishing Company, a media company, publishes newspapers worldwide. The company operates in two segments, M and X. It publishes daily newspapers; weekly newspapers; and digital platforms, such as Websites and mobile applications. The company also provides various digital marketing services, which include the development of mobile Websites, search engine marketing and optimization, social media account management, and content marketing for its customers' Web presence for small to medium size businesses.
Further Reading: What is diluted earnings per share (Diluted EPS)?
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