TheStreet upgraded shares of Tribune Publishing (NASDAQ:TPCO) from a d+ rating to a c rating in a research note released on Friday morning, TheStreetRatingsTable reports.
Other equities research analysts have also issued reports about the company. Noble Financial set a $19.00 target price on Tribune Publishing and gave the stock a buy rating in a research report on Tuesday, August 20th. Zacks Investment Research cut Tribune Publishing from a hold rating to a sell rating in a research note on Friday, August 30th.
Tribune Publishing stock opened at $12.60 on Friday. The firm’s 50-day moving average is $9.82 and its 200-day moving average is $8.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.98 and a current ratio of 1.01. Tribune Publishing has a 1 year low of $7.00 and a 1 year high of $15.14.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.94%. The ex-dividend date is Friday, November 22nd.
In other Tribune Publishing news, major shareholder Alden Global Capital Llc bought 184,500 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were purchased at an average cost of $10.94 per share, for a total transaction of $2,018,430.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Michael W. Ferro, Jr. sold 23,741 shares of Tribune Publishing stock in a transaction on Friday, November 15th. The shares were sold at an average price of $13.00, for a total value of $308,633.00. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 1,176,859 shares of company stock valued at $14,581,729. 2.20% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. Parallax Volatility Advisers L.P. acquired a new position in shares of Tribune Publishing during the second quarter valued at $1,238,000. Vanguard Group Inc. increased its stake in Tribune Publishing by 10.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,212,851 shares of the company’s stock valued at $9,667,000 after buying an additional 116,123 shares during the period. Millennium Management LLC acquired a new position in Tribune Publishing during the 3rd quarter valued at about $820,000. Russell Investments Group Ltd. raised its position in shares of Tribune Publishing by 260.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 115,694 shares of the company’s stock worth $925,000 after buying an additional 83,636 shares in the last quarter. Finally, Cooperman Leon G bought a new stake in shares of Tribune Publishing during the 2nd quarter worth about $415,000. Institutional investors own 35.20% of the company’s stock.
About Tribune Publishing
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.
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