Short Interest of The Day: Could Tribune Media Company Class A (NYSE:TRCO) See a Reversal After More Sellers Came In?

November 18, 2016 - By Winifred Garcia   ·   0 Comments

Short Interest of The Day: Could Tribune Media Company Class A (NYSE:TRCO) See a Reversal After More Sellers Came In?

The stock of Tribune Media Company Class A (NYSE:TRCO) registered an increase of 28.27% in short interest. TRCO’s total short interest was 3.67M shares in November as published by FINRA. Its up 28.27% from 2.86 million shares, reported previously. With 499,200 shares average volume, it will take short sellers 7 days to cover their TRCO’s short positions. The short interest to Tribune Media Company Class A’s float is 5.25%. The stock increased 0.20% or $0.07 during the last trading session, hitting $35.85. Tribune Media Co (NYSE:TRCO) has declined 9.67% since April 18, 2016 and is downtrending. It has underperformed by 14.11% the S&P500.

Tribune Media Company is a diversified media and entertainment business. The company has a market cap of $3.17 billion. The Firm consists of approximately 40 television stations to which it provides certain services, along with a national general entertainment television network, a radio station, a production studio, its digital and data business, a portfolio of real estate assets and investments in a range of media, Websites and other related assets. It currently has negative earnings.

Tribune Media Co (NYSE:TRCO) Ratings Coverage

Out of 5 analysts covering Tribune Media (NYSE:TRCO), 2 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 40% are positive. Tribune Media has been the topic of 9 analyst reports since August 14, 2015 according to StockzIntelligence Inc. Evercore initiated the stock with “Buy” rating in Tuesday, October 13 report. Stephens initiated Tribune Media Co (NYSE:TRCO) on Wednesday, November 18 with “Equal-Weight” rating. Morgan Stanley initiated Tribune Media Co (NYSE:TRCO) on Wednesday, August 19 with “Equal Weight” rating. The company was maintained on Friday, August 14 by Jefferies. The rating was upgraded by Gabelli on Monday, December 14 to “Buy”. Morgan Stanley downgraded the stock to “Underweight” rating in Wednesday, June 1 report.

TRCO Company Profile

Tribune Media Company, incorporated on March 19, 1968, is a diversified media and entertainment business. The Firm consists of approximately 40 television stations to which it provides certain services, along with a national general entertainment television network, a radio station, a production studio, its digital and data business, a portfolio of real estate assets and investments in a range of media, Websites and other related assets. The Firm operates through two divisions: Television and Entertainment, and Digital and Data. The Television and Entertainment segment provides audiences across the country with news, entertainment and sports programming on Tribune Broadcasting local television stations, and television series and movies on WGN America, including through content produced by Tribune Studios and its production partners, as well as news, entertainment and sports information through its Websites and other digital assets. The Digital and Data segment provides technology and services that collect and distribute video, music, sports and entertainment data primarily through wholesale distribution channels to clients across the world. The Company’s Corporate and Other segment includes the management of certain of its real estate assets, including revenues from leasing office and production facilities and any gains or losses from the sales of its owned real estate, as well as certain administrative activities associated with operating its corporate office functions and managing its frozen company-sponsored defined benefit pension plans. The Firm also holds a range of investments in cable and digital assets, including equity investments in Television Food Network, G.P. (TV Food Network) and CareerBuilder, LLC (CareerBuilder).

More notable recent Tribune Media Co (NYSE:TRCO) news were published by: Wsj.com which released: “Tribune Media Earnings Hurt by Small Donald Trump Ad Spend” on November 09, 2016, also Prnewswire.com with their article: “Tribune Media and ATTN: Announce Strategic Partnership and Investment” published on November 16, 2016, Chicagotribune.com published: “Tribune Media inks deal to sell Tribune Tower to developer” on August 30, 2016. More interesting news about Tribune Media Co (NYSE:TRCO) were released by: Prnewswire.com and their article: “Tribune Media Company Reports Second Quarter 2016 Results” published on August 09, 2016 as well as Reuters.com‘s news article titled: “BRIEF-Tribune Media Company appoints Peter M. Kern to board” with publication date: October 13, 2016.

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By Winifred Garcia


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