Cornerstone Investment Partners LLC lifted its stake in shares of Tegna Inc (NYSE:TGNA) by 100.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,000 shares of the company’s stock after purchasing an additional 10,000 shares during the period. Cornerstone Investment Partners LLC’s holdings in Tegna were worth $282,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Tegna by 32.2% during the second quarter. BlackRock Inc. now owns 17,593,214 shares of the company’s stock worth $253,518,000 after acquiring an additional 4,286,497 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in Tegna by 0.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 11,177,342 shares of the company’s stock valued at $148,994,000 after buying an additional 57,105 shares during the last quarter. Fairpointe Capital LLC increased its holdings in Tegna by 13.3% in the second quarter. Fairpointe Capital LLC now owns 8,478,230 shares of the company’s stock valued at $122,171,000 after buying an additional 993,543 shares during the last quarter. Canyon Capital Advisors LLC purchased a new position in Tegna in the second quarter valued at $82,306,000. Finally, Dimensional Fund Advisors LP increased its holdings in Tegna by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 5,327,077 shares of the company’s stock valued at $76,767,000 after buying an additional 392,936 shares during the last quarter. Hedge funds and other institutional investors own 96.30% of the company’s stock.
Several brokerages have issued reports on TGNA. B. Riley reiterated a “neutral” rating on shares of Tegna in a research note on Wednesday, November 1st. Zacks Investment Research raised shares of Tegna from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Friday, February 2nd. FBR & Co reaffirmed a “hold” rating and issued a $15.00 target price on shares of Tegna in a report on Wednesday, November 1st. Noble Financial reaffirmed a “buy” rating on shares of Tegna in a report on Tuesday, November 14th. Finally, ValuEngine raised shares of Tegna from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Tegna has an average rating of “Hold” and an average price target of $18.22.
In other Tegna news, SVP Clifton A. Mcclelland III sold 7,740 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $13.69, for a total value of $105,960.60. Following the transaction, the senior vice president now owns 32,335 shares in the company, valued at approximately $442,666.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.81% of the stock is owned by company insiders.
Shares of Tegna Inc (NYSE TGNA) traded up $0.28 on Wednesday, hitting $14.04. 1,903,856 shares of the company’s stock were exchanged, compared to its average volume of 2,174,446. The firm has a market cap of $2,922.50, a price-to-earnings ratio of 10.48, a PEG ratio of 6.69 and a beta of 1.65. Tegna Inc has a 52 week low of $11.59 and a 52 week high of $17.08. The company has a debt-to-equity ratio of 4.30, a quick ratio of 1.37 and a current ratio of 1.37.
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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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