Assenagon Asset Management S.A. Takes $2.56 Million Position in tronc Inc (TRNC)

Assenagon Asset Management S.A. bought a new stake in shares of tronc Inc (NASDAQ:TRNC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 156,649 shares of the company’s stock, valued at approximately $2,558,000.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in tronc during the 2nd quarter valued at about $168,000. WINTON GROUP Ltd purchased a new position in tronc during the 2nd quarter valued at about $175,000. Raymond James & Associates purchased a new position in tronc during the 2nd quarter valued at about $594,000. Russell Investments Group Ltd. boosted its holdings in tronc by 128.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 122,390 shares of the company’s stock valued at $2,118,000 after acquiring an additional 68,837 shares during the period. Finally, Mackay Shields LLC boosted its holdings in tronc by 9.7% during the 2nd quarter. Mackay Shields LLC now owns 197,001 shares of the company’s stock valued at $3,404,000 after acquiring an additional 17,500 shares during the period. Institutional investors own 38.71% of the company’s stock.

Shares of TRNC opened at $16.11 on Wednesday. tronc Inc has a 1 year low of $13.86 and a 1 year high of $24.74.

tronc (NASDAQ:TRNC) last announced its quarterly earnings data on Thursday, August 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.51). The firm had revenue of $253.04 million during the quarter.

A number of equities analysts recently commented on TRNC shares. Zacks Investment Research upgraded tronc from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Wednesday, August 1st. Noble Financial set a $21.00 target price on tronc and gave the company a “buy” rating in a report on Friday, August 10th. Finally, BidaskClub cut tronc from a “hold” rating to a “sell” rating in a report on Tuesday, July 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $21.33.

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About tronc

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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Institutional Ownership by Quarter for tronc (NASDAQ:TRNC)

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