Prudential Financial Inc. increased its holdings in tronc Inc (NASDAQ:TRNC) by 11.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,350 shares of the company’s stock after buying an additional 3,740 shares during the period. Prudential Financial Inc.’s holdings in tronc were worth $610,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in TRNC. SG Americas Securities LLC acquired a new position in tronc in the 2nd quarter valued at about $168,000. WINTON GROUP Ltd acquired a new position in tronc in the 2nd quarter valued at about $175,000. Raymond James & Associates acquired a new position in tronc in the 2nd quarter valued at about $594,000. Renaissance Technologies LLC raised its stake in tronc by 6.0% in the 2nd quarter. Renaissance Technologies LLC now owns 641,700 shares of the company’s stock valued at $11,089,000 after purchasing an additional 36,400 shares during the last quarter. Finally, Chicago Equity Partners LLC acquired a new position in tronc in the 3rd quarter valued at about $876,000. Institutional investors and hedge funds own 38.71% of the company’s stock.
TRNC has been the subject of several analyst reports. Zacks Investment Research raised shares of tronc from a “sell” rating to a “hold” rating in a research note on Saturday, September 15th. BidaskClub downgraded shares of tronc from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. tronc presently has an average rating of “Hold” and an average target price of $21.33.
NASDAQ TRNC opened at $16.11 on Tuesday. tronc Inc has a 12 month low of $13.86 and a 12 month high of $24.74.
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tronc Company Profile
tronc, Inc, 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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