Short Interest in Tribune Media Co (TRCO) Drops By 43.9%

Short Interest in Tribune Media Co (TRCO) Drops By 43.9%

Tribune Media Co (NYSE:TRCO) was the target of a large decrease in short interest in February. As of February 28th, there was short interest totalling 2,416,371 shares, a decrease of 43.9% from the February 15th total of 4,309,426 shares. Based on an average daily trading volume, of 1,605,934 shares, the days-to-cover ratio is presently 1.5 days.

Tribune Media (NYSE:TRCO) opened at 37.40 on Friday. The stock’s 50 day moving average price is $33.88 and its 200-day moving average price is $34.29. Tribune Media has a 52-week low of $27.75 and a 52-week high of $40.72. The company has a market cap of $3.24 billion, a P/E ratio of 238.22 and a beta of 1.44.

Tribune Media (NYSE:TRCO) last issued its earnings results on Wednesday, March 1st. The company reported $0.85 EPS for the quarter, missing the Zacks’ consensus estimate of $0.92 by $0.07. The business earned $529.60 million during the quarter, compared to analyst estimates of $596.76 million. Tribune Media had a negative net margin of 18.26% and a positive return on equity of 4.27%. Tribune Media’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company earned $0.63 earnings per share. On average, equities analysts predict that Tribune Media will post $1.57 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 27th. Stockholders of record on Monday, March 13th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Thursday, March 9th. Tribune Media’s dividend payout ratio (DPR) is -24.39%.

TRCO has been the topic of a number of recent research reports. Zacks Investment Research raised Tribune Media from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 11th. Jefferies Group LLC increased their price target on Tribune Media from $30.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, March 2nd. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $36.00.

Several large investors have recently modified their holdings of the stock. Morgan Stanley raised its stake in shares of Tribune Media by 181.2% in the third quarter. Morgan Stanley now owns 2,267,633 shares of the company’s stock worth $82,814,000 after buying an additional 1,461,200 shares in the last quarter. OMERS ADMINISTRATION Corp raised its stake in shares of Tribune Media by 887.2% in the third quarter. OMERS ADMINISTRATION Corp now owns 84,900 shares of the company’s stock worth $3,101,000 after buying an additional 76,300 shares in the last quarter. Kirr Marbach & Co. LLC IN raised its stake in shares of Tribune Media by 0.5% in the third quarter. Kirr Marbach & Co. LLC IN now owns 198,225 shares of the company’s stock worth $7,239,000 after buying an additional 1,047 shares in the last quarter. OZ Management LP purchased a new stake in shares of Tribune Media during the third quarter worth about $6,422,000. Finally, Clinton Group Inc. purchased a new stake in shares of Tribune Media during the third quarter worth about $956,000.

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