Nisa Investment Advisors LLC cut its stake in shares of Tegna Inc (NYSE:TGNA) by 0.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 52,100 shares of the company’s stock after selling 490 shares during the period. Nisa Investment Advisors LLC’s holdings in Tegna were worth $1,335,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Commonwealth Equity Services Inc boosted its position in Tegna by 106.6% in the third quarter. Commonwealth Equity Services Inc now owns 45,902 shares of the company’s stock worth $1,003,000 after buying an additional 23,687 shares during the last quarter. Strs Ohio purchased a new position in shares of Tegna during the third quarter worth $5,465,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Tegna by 3.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 32,414 shares of the company’s stock worth $709,000 after buying an additional 986 shares during the last quarter. Capital Fund Management S.A. raised its position in shares of Tegna by 44.8% in the third quarter. Capital Fund Management S.A. now owns 33,458 shares of the company’s stock worth $731,000 after buying an additional 10,354 shares during the last quarter. Finally, Tocqueville Asset Management L.P. raised its stake in Tegna by 22.5% in the third quarter. Tocqueville Asset Management L.P. now owns 723,550 shares of the company’s stock worth $15,817,000 after buying an additional 132,750 shares during the last quarter. Institutional investors and hedge funds own 85.01% of the company’s stock.
Shares of Tegna Inc (NYSE:TGNA) traded up 2.65% during trading on Friday, reaching $22.89. The company had a trading volume of 3,715,277 shares. The company has a market capitalization of $4.92 billion, a PE ratio of 12.22 and a beta of 1.69. The stock’s 50-day moving average price is $24.87 and its 200-day moving average price is $23.51. Tegna Inc has a 52 week low of $17.91 and a 52 week high of $26.65.
Tegna (NYSE:TGNA) last released its quarterly earnings data on Tuesday, May 9th. The company reported $0.33 EPS for the quarter, meeting analysts’ consensus estimates of $0.33. Tegna had a return on equity of 19.14% and a net margin of 14.33%. The firm had revenue of $778.50 million for the quarter, compared to analysts’ expectations of $799.54 million. During the same period in the prior year, the firm posted $0.45 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis. On average, equities analysts expect that Tegna Inc will post $1.69 EPS for the current fiscal year.
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TGNA has been the subject of a number of analyst reports. TheStreet raised Tegna from a “c” rating to a “b” rating in a research report on Thursday, March 30th. Benchmark Co. raised their target price on Tegna from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, February 28th. FBR & Co reaffirmed a “buy” rating and set a $30.00 target price on shares of Tegna in a research report on Wednesday, March 8th. Jefferies Group LLC reiterated a “hold” rating and set a $26.00 price target on shares of Tegna in a research note on Monday, April 3rd. Finally, Barrington Research reiterated an “outperform” rating and set a $36.00 price target (up previously from $28.00) on shares of Tegna in a research note on Tuesday, March 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Tegna has an average rating of “Hold” and a consensus target price of $27.67.
In related news, EVP Todd A. Mayman sold 11,554 shares of the business’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $25.69, for a total transaction of $296,822.26. Following the completion of the transaction, the executive vice president now owns 56,250 shares in the company, valued at $1,445,062.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP William A. Behan sold 24,644 shares of the company’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $25.87, for a total transaction of $637,540.28. Following the completion of the transaction, the senior vice president now owns 8,005 shares of the company’s stock, valued at approximately $207,089.35. The disclosure for this sale can be found here. Insiders have sold 44,421 shares of company stock worth $1,148,472 in the last ninety days. Corporate insiders own 0.68% of the company’s stock.
Tegna Company Profile
Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
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