Tribune Publishing (NASDAQ:TPCO) Shares Gap Up to $12.79

Tribune Publishing (NASDAQ:TPCO)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $12.79, but opened at $14.00. Tribune Publishing shares last traded at $13.92, with a volume of 2,697 shares.

A number of research analysts have issued reports on the company. BidaskClub raised Tribune Publishing from a “sell” rating to a “hold” rating in a research note on Friday, December 25th. Zacks Investment Research lowered Tribune Publishing from a “buy” rating to a “hold” rating in a research report on Friday, October 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Tribune Publishing presently has a consensus rating of “Hold” and a consensus price target of $12.00.

The stock has a fifty day simple moving average of $12.38 and a 200-day simple moving average of $11.38. The stock has a market cap of $500.50 million, a P/E ratio of -8.01 and a beta of 1.36.

Tribune Publishing (NASDAQ:TPCO) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.06. Tribune Publishing had a negative return on equity of 12.81% and a negative net margin of 7.20%. The company had revenue of $188.67 million during the quarter, compared to analysts’ expectations of $188.00 million. Analysts expect that Tribune Publishing will post -0.59 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its holdings in Tribune Publishing by 65.1% during the second quarter. Public Employees Retirement System of Ohio now owns 15,449 shares of the company’s stock worth $154,000 after purchasing an additional 6,093 shares during the last quarter. Morgan Stanley lifted its position in Tribune Publishing by 876.1% during the 1st quarter. Morgan Stanley now owns 935,274 shares of the company’s stock worth $7,585,000 after buying an additional 839,452 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Tribune Publishing by 97.1% during the 2nd quarter. Bank of America Corp DE now owns 21,544 shares of the company’s stock worth $215,000 after buying an additional 10,614 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Tribune Publishing by 3.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 113,230 shares of the company’s stock valued at $1,132,000 after acquiring an additional 3,988 shares in the last quarter. Finally, Mackay Shields LLC acquired a new stake in shares of Tribune Publishing in the third quarter valued at about $126,000. Institutional investors own 60.85% of the company’s stock.

Tribune Publishing Company Profile (NASDAQ:TPCO)

Tribune Publishing Company, together with subsidiaries, publishes newspapers worldwide. The company operates in two segments, M and X. It publishes daily newspapers, weekly newspapers, and niche publications and direct mails; and operates local 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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