Thomson Reuters (NYSE:TRI) Sees Unusually-High Trading Volume - Here's Why

Shares of Thomson Reuters Co. (NYSE:TRI - Get Free Report) TSE: TRI saw an uptick in trading volume on Tuesday . 464,877 shares changed hands during mid-day trading, an increase of 32% from the previous session's volume of 353,153 shares.The stock last traded at $170.56 and had previously closed at $165.02.

Wall Street Analyst Weigh In

Several brokerages recently commented on TRI. National Bank Financial raised Thomson Reuters from a "sector perform" rating to an "outperform" rating in a research report on Monday, September 9th. JPMorgan Chase & Co. increased their price objective on Thomson Reuters from $163.00 to $164.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. Scotiabank upgraded Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and increased their price objective for the stock from $164.00 to $182.00 in a research note on Tuesday, August 27th. Finally, Royal Bank of Canada increased their price objective on Thomson Reuters from $168.00 to $171.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Thomson Reuters currently has an average rating of "Hold" and a consensus price target of $175.56.

Thomson Reuters Price Performance

The company has a market capitalization of $76.68 billion, a price-to-earnings ratio of 31.67, a price-to-earnings-growth ratio of 5.54 and a beta of 0.73. The company has a 50-day moving average price of $168.79 and a 200-day moving average price of $166.46. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88.

Hedge Funds Weigh In On Thomson Reuters

Several institutional investors have recently modified their holdings of TRI. Rothschild Investment LLC acquired a new position in shares of Thomson Reuters in the 2nd quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its position in shares of Thomson Reuters by 76.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider's stock valued at $28,000 after purchasing an additional 80 shares during the period. Asset Dedication LLC grew its position in shares of Thomson Reuters by 125.0% in the 3rd quarter. Asset Dedication LLC now owns 234 shares of the business services provider's stock valued at $40,000 after purchasing an additional 130 shares during the period. Clean Yield Group acquired a new position in shares of Thomson Reuters in the 3rd quarter valued at approximately $42,000. Finally, Ashton Thomas Securities LLC bought a new stake in Thomson Reuters in the 3rd quarter valued at approximately $47,000. 17.31% of the stock is currently owned by institutional investors and hedge funds.

About Thomson Reuters

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.