Water Island Capital LLC increased its position in shares of Tribune Publishing Co (NASDAQ:TPCO) by 19.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,034 shares of the company’s stock after buying an additional 5,244 shares during the period. Water Island Capital LLC’s holdings in Tribune Publishing were worth $378,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in TPCO. FMR LLC bought a new stake in shares of Tribune Publishing during the fourth quarter worth about $39,000. Legal & General Group Plc bought a new stake in shares of Tribune Publishing during the fourth quarter worth about $43,000. Great West Life Assurance Co. Can bought a new stake in shares of Tribune Publishing during the fourth quarter worth about $42,000. Metropolitan Life Insurance Co. NY bought a new stake in shares of Tribune Publishing during the fourth quarter worth about $48,000. Finally, MetLife Investment Advisors LLC bought a new stake in shares of Tribune Publishing during the fourth quarter worth about $79,000. 42.48% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on TPCO shares. Noble Financial reissued a “buy” rating on shares of Tribune Publishing in a research report on Sunday, January 20th. Zacks Investment Research downgraded shares of Tribune Publishing from a “buy” rating to a “hold” rating in a research report on Tuesday, January 22nd.
Tribune Publishing (NASDAQ:TPCO) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). Tribune Publishing had a return on equity of 2.63% and a net margin of 24.95%. The firm had revenue of $244.53 million for the quarter, compared to analysts’ expectations of $235.40 million. As a group, analysts predict that Tribune Publishing Co will post 0.25 EPS for the current fiscal year.
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Tribune Publishing Company Profile
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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