Insider Buying: Tribune Publishing Co (NASDAQ:TPCO) Major Shareholder Acquires 184,500 Shares of Stock

Tribune Publishing Co (NASDAQ:TPCO) major shareholder Alden Global Capital Llc purchased 184,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was purchased at an average price of $10.94 per share, with a total value of $2,018,430.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Shares of NASDAQ:TPCO traded up $1.51 during trading on Friday, hitting $13.01. 1,033,100 shares of the company were exchanged, compared to its average volume of 105,276. The stock has a market capitalization of $350.51 million, a P/E ratio of 19.08 and a beta of 1.48. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.01 and a quick ratio of 0.98. Tribune Publishing Co has a 12-month low of $7.00 and a 12-month high of $15.14. The firm’s 50 day moving average price is $8.94 and its 200-day moving average price is $8.71.

Tribune Publishing (NASDAQ:TPCO) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.42). The company had revenue of $236.03 million for the quarter, compared to analysts’ expectations of $227.90 million. Tribune Publishing had a positive return on equity of 1.03% and a negative net margin of 2.12%. As a group, equities research analysts anticipate that Tribune Publishing Co will post 0.21 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 22nd. This represents a $1.00 annualized dividend and a dividend yield of 7.69%.

TPCO has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Tribune Publishing from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. Noble Financial set a $19.00 price objective on shares of Tribune Publishing and gave the stock a “buy” rating in a research report on Tuesday, August 20th.

Several large investors have recently modified their holdings of TPCO. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Tribune Publishing during the 2nd quarter worth approximately $104,000. Nisa Investment Advisors LLC lifted its position in shares of Tribune Publishing by 3,134.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,600 shares of the company’s stock worth $61,000 after buying an additional 7,365 shares during the last quarter. Strs Ohio lifted its position in shares of Tribune Publishing by 7.6% during the 2nd quarter. Strs Ohio now owns 45,400 shares of the company’s stock worth $361,000 after buying an additional 3,200 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Tribune Publishing during the 2nd quarter worth approximately $186,000. Finally, BNP Paribas Arbitrage SA purchased a new stake in shares of Tribune Publishing during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 34.60% of the company’s stock.

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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