Texas Permanent School Fund trimmed its stake in shares of Tegna Inc (NYSE:TGNA) by 7.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 145,411 shares of the company’s stock after selling 11,633 shares during the period. Texas Permanent School Fund owned about 0.07% of Tegna worth $2,047,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in TGNA. Point72 Asset Management L.P. acquired a new position in shares of Tegna during the 3rd quarter valued at about $110,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Tegna by 523.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,337 shares of the company’s stock valued at $138,000 after purchasing an additional 8,678 shares during the period. Beacon Investment Advisory Services Inc. bought a new stake in shares of Tegna in the 3rd quarter worth approximately $162,000. Quantbot Technologies LP bought a new stake in shares of Tegna in the 3rd quarter worth approximately $169,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Tegna in the 4th quarter worth approximately $177,000. 96.30% of the stock is owned by institutional investors and hedge funds.
Several research firms recently commented on TGNA. B. Riley restated a “neutral” rating on shares of Tegna in a research report on Wednesday, November 1st. Zacks Investment Research raised Tegna from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Friday, February 2nd. FBR & Co reissued a “hold” rating and issued a $15.00 target price on shares of Tegna in a research note on Wednesday, November 1st. Noble Financial reissued a “buy” rating on shares of Tegna in a research note on Tuesday, November 14th. Finally, ValuEngine raised Tegna from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Tegna has a consensus rating of “Hold” and an average target price of $18.22.
Tegna Inc (NYSE:TGNA) traded down $0.10 during midday trading on Thursday, reaching $13.94. The company had a trading volume of 1,277,253 shares, compared to its average volume of 2,146,474. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 4.30. Tegna Inc has a 1-year low of $11.59 and a 1-year high of $17.08. The firm has a market capitalization of $2,990.00, a P/E ratio of 8.95, a price-to-earnings-growth ratio of 6.78 and a beta of 1.50.
In other Tegna news, SVP Clifton A. Mcclelland III sold 7,740 shares of the stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $13.69, for a total transaction of $105,960.60. Following the completion of the sale, the senior vice president now directly owns 32,335 shares in the company, valued at approximately $442,666.15. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.81% of the company’s stock.
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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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