Peregrine Capital Management LLC increased its holdings in shares of Tribune Publishing Co (NASDAQ:TPCO) by 48.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 631,268 shares of the company’s stock after purchasing an additional 205,585 shares during the period. Peregrine Capital Management LLC owned approximately 1.77% of Tribune Publishing worth $7,159,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Meeder Asset Management Inc. bought a new position in Tribune Publishing during the fourth quarter valued at about $84,000. Matarin Capital Management LLC bought a new stake in shares of Tribune Publishing in the 3rd quarter valued at approximately $685,000. Bridgeway Capital Management Inc. bought a new stake in shares of Tribune Publishing in the 3rd quarter valued at approximately $852,000. Finally, Panagora Asset Management Inc. bought a new stake in shares of Tribune Publishing in the 3rd quarter valued at approximately $2,344,000. 38.42% of the stock is owned by institutional investors and hedge funds.
NASDAQ TPCO opened at $11.65 on Friday. The company has a market cap of $414.75 million, a P/E ratio of 22.84 and a beta of 1.78. Tribune Publishing Co has a one year low of $10.82 and a one year high of $24.74. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.17 and a current ratio of 1.22.
Tribune Publishing (NASDAQ:TPCO) last posted its quarterly earnings data on Wednesday, November 7th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.06). The firm had revenue of $255.77 million for the quarter, compared to analyst estimates of $233.80 million. Tribune Publishing had a return on equity of 6.90% and a net margin of 18.92%. Analysts forecast that Tribune Publishing Co will post -0.39 earnings per share for the current fiscal year.
Several research firms have recently weighed in on TPCO. Zacks Investment Research upgraded Tribune Publishing from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective on the stock in a research note on Saturday, November 17th. Noble Financial restated a “buy” rating on shares of Tribune Publishing in a research report on Sunday, January 20th.
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Tribune Publishing Profile
Tribune Publishing Company, a media company, publishes newspapers worldwide. The company operates in two segments, troncM and troncX. 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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