Tribune Media Company (TRCO) has been under a strong bear grip, hence the stock is down -1.92% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.99% in the past 1 week. The stock has risen by 2.05% in the past week indicating that the buyers are active at lower levels, but the stock is down -0.9% in the past 4 weeks.
The stock has recorded a 20-day Moving Average of 0.98% and the 50-Day Moving Average is 0.37%. Tribune Media Company (NYSE:TRCO): On Fridays trading session , Opening price of the stock was $38.96 with an intraday high of $39.2799. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $38.14. However, the stock managed to close at $38.4, a loss of 1.59% for the day. On the previous day, the stock had closed at $39.02. The total traded volume of the day was 848,616 shares.
The company Insiders own 0.74% of Tribune Media Company shares according to the proxy statements. During last six month period, the net percent change held by insiders has seen a change of -43.01%. Also, Morgan Stanley downgrades its rating on Tribune Media Company (NYSE:TRCO). The global brokerage major lowers the current price target from $39 per share to $36 per share. Analysts at the Morgan Stanley have a current rating of Underweight on the shares. The rating by the firm was issued on June 1, 2016.
Tribune Media Company is a diversified media and entertainment business. The Company consists of 42 television stations to which it provides certain services, along with a national general entertainment television network, a radio station, a production studio, a digital and data technology business, a portfolio of real estate assets and investments in a variety of media, Websites and other related assets. The Company operates in the following segments: Television and Entertainment, which provides audiences 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, and Digital and Data, which provides technology and services that collect and distribute video, music and entertainment data primarily through wholesale distribution channels to consumers across the world.