Northern Trust Corp acquired a new stake in Tribune Publishing Co (NASDAQ:TPCO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 225,169 shares of the company’s stock, valued at approximately $2,554,000. Northern Trust Corp owned about 0.63% of Tribune Publishing as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also added to or reduced their stakes in TPCO. BlackRock Inc. acquired a new position in Tribune Publishing in the fourth quarter valued at approximately $14,563,000. Acadian Asset Management LLC acquired a new position in Tribune Publishing in the fourth quarter valued at approximately $12,095,000. Peregrine Capital Management LLC lifted its holdings in Tribune Publishing by 48.3% in the fourth quarter. Peregrine Capital Management LLC now owns 631,268 shares of the company’s stock valued at $7,159,000 after acquiring an additional 205,585 shares during the last quarter. Raymond James & Associates acquired a new position in Tribune Publishing in the fourth quarter valued at approximately $1,715,000. Finally, ACT II Management LP acquired a new position in Tribune Publishing during the fourth quarter worth $1,134,000. Hedge funds and other institutional investors own 42.77% of the company’s stock.
NASDAQ:TPCO opened at $10.62 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.24 and a current ratio of 1.29. Tribune Publishing Co has a 52 week low of $10.26 and a 52 week high of $18.90. The firm has a market cap of $380.26 million, a price-to-earnings ratio of 20.82 and a beta of 1.67.
A number of research analysts have commented on the company. Zacks Investment Research upgraded Tribune Publishing from a “hold” rating to a “strong-buy” rating and set a $13.00 price target on the stock in a research note on Friday, March 22nd. Noble Financial set a $19.00 price target on Tribune Publishing and gave the stock a “buy” rating in a research note on Monday, March 18th.
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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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