State of Alaska Department of Revenue Takes $177,000 Position in Tegna Inc (TGNA)
State of Alaska Department of Revenue acquired a new stake in Tegna Inc (NYSE:TGNA) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 12,600 shares of the company’s stock, valued at approximately $177,000.
A number of other hedge funds also recently made changes to their positions in TGNA. Evercore Trust Company N.A. bought a new stake in Tegna in the third quarter valued at approximately $56,674,000. Schroder Investment Management Group lifted its position in Tegna by 80.1% in the third quarter. Schroder Investment Management Group now owns 3,811,565 shares of the company’s stock valued at $51,228,000 after purchasing an additional 1,695,785 shares during the last quarter. Prudential Financial Inc. lifted its position in Tegna by 120.7% in the third quarter. Prudential Financial Inc. now owns 3,099,576 shares of the company’s stock valued at $41,317,000 after purchasing an additional 1,695,312 shares during the last quarter. FMR LLC lifted its position in Tegna by 62.4% in the second quarter. FMR LLC now owns 2,756,886 shares of the company’s stock valued at $39,727,000 after purchasing an additional 1,058,775 shares during the last quarter. Finally, Paulson & CO. Inc. bought a new stake in Tegna in the second quarter valued at approximately $11,215,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.
Several research firms have recently issued reports on TGNA. Guggenheim began coverage on Tegna in a research note on Wednesday, October 18th. They set a “buy” rating and a $17.00 target price on the stock. BidaskClub cut Tegna from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 7th. Noble Financial reissued a “buy” rating on shares of Tegna in a research note on Tuesday, December 19th. ValuEngine raised Tegna from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Finally, Wells Fargo & Co raised Tegna from a “market perform” rating to an “outperform” rating and set a $19.00 target price on the stock in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $18.22.
Tegna Inc (NYSE TGNA) opened at $13.28 on Friday. The company has a debt-to-equity ratio of 4.30, a quick ratio of 1.37 and a current ratio of 1.37. Tegna Inc has a 12 month low of $11.59 and a 12 month high of $17.08. The stock has a market capitalization of $2,960.00, a P/E ratio of 8.57, a PEG ratio of 6.90 and a beta of 1.50.
Tegna (NYSE:TGNA) last posted its earnings results on Wednesday, November 8th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Tegna had a return on equity of 20.50% and a net margin of 11.10%. The firm had revenue of $464.26 million for the quarter, compared to analysts’ expectations of $463.23 million. During the same period in the previous year, the firm earned $0.65 earnings per share. The business’s revenue was down 10.7% compared to the same quarter last year. sell-side analysts anticipate that Tegna Inc will post 1.08 EPS for the current fiscal year.
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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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