Shares of Thomson Reuters Corp (NYSE:TRI) traded at a new 52-week high today of $103.44. So far today approximately 75,000 shares have been exchanged, as compared to an average 30-day volume of 278,000 shares.
Thomson Reuters is the result of the $17.6 billion megamerger of Canada’s Thomson and the United Kingdom’s Reuters Group in 2008 and the 2018 carve-out of its finance and risk business, Refinitiv, in which it holds a 45% stake. In 2019, the company agreed to exchange its 45% stake in Refinitiv for a 15% stake in LSE. Since the divestiture, the company is more concentrated on selling its flagship legal data and software, WestLaw, and its tax accounting software, OneSource. In addition, the company does hold a significant investment in the publicly traded Tradeweb, which operates a fixed income exchange.
Over the past year, Thomson Reuters Corp has traded in a range of $68.09 to $103.44 and is now at $103.43, 52% above that low.
Thomson Reuters Corp (NYSE:TRI) is currently priced 81.3% above its average consensus analyst price target of $19.35.
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