California Capital Equity, Llc. is Buying Tronc Inc. (NASDAQ:TRNC) Shares

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Tronc Inc. (NASDAQ:TRNC) reported that California Capital Equity, Llc. has picked up 7,650,000 of common stock as of 2017-04-07.

The acquisition brings the aggregate amount owned by California Capital Equity, Llc. to a total of 7,650,000 representing a 23.4% stake in the company.

For those not familiar with the company, tronc, Inc., formerly Tribune Publishing Company, is a media company. As of December 25, 2016, the Company operated over 150 titles in nine markets. Its portfolio of news and information brands are in markets, including Los Angeles and San Diego, California; Chicago, Illinois; Fort Lauderdale and Orlando, Florida; Baltimore, Maryland; Hartford, Connecticut; Allentown, Pennsylvania, and Newport News, Virginia. The Company also offers an array of customized marketing solutions, and publishes a number of niche products, including Hoy and El Sentinel. troncM’s media groups include the Chicago Tribune Media Group, the Los Angeles Times Media Group, the San Diego Media Group, the Sun Sentinel Media Group, the Orlando Sentinel Media Group, The Baltimore Sun Media Group, the Morning Call Media Group and the Daily Press Media Group. troncX consists of the Company’s digital revenues and related digital expenses from more than 130 digital platforms online and mobile applications.

A glance at Tronc Inc. (NASDAQ:TRNC)’s key stats reveals a current market capitalization of 524.77 Million based on 36.44 Million shares outstanding and a price at last close of $14.34 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2017-03-20, Soon-Shiong picked up 2,950,000 at a purchase price of $14.87. This brings their total holding to 7,650,000 as of the date of the filing.

On the sell side, the most recent transaction saw Oaktree unload 3,741,371 shares at a sale price of $15.00. This brings their total holding to 0.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Tronc Inc. (NASDAQ:TRNC) as things move forward to see if its progress aligns with these transactions.

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Author: Richard Schwarz

Richard Schwarz is a veteran analyst in the small cap space, with a particular focus on the development stage biotech sector. He is a native of Canada, and attended NYU before working for a host of big name pharma outfits.

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