Wealthfront Advisers LLC bought a new stake in TEGNA Inc. (NYSE:TGNA – Free Report) during the 4th quarter, HoldingsChannel reports. The fund bought 12,602 shares of the company’s stock, valued at approximately $230,000.
Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in TEGNA by 26.2% in the 3rd quarter. Principal Financial Group Inc. now owns 891,488 shares of the company’s stock valued at $14,068,000 after buying an additional 184,845 shares during the period. EMC Capital Management increased its holdings in TEGNA by 648.8% in the 4th quarter. EMC Capital Management now owns 20,346 shares of the company’s stock valued at $372,000 after buying an additional 17,629 shares during the period. Guidance Capital Inc. bought a new position in TEGNA in the 4th quarter valued at about $476,000. World Investment Advisors LLC bought a new position in TEGNA in the 3rd quarter valued at about $528,000. Finally, Jennison Associates LLC bought a new stake in shares of TEGNA during the 4th quarter valued at approximately $550,000. 92.19% of the stock is owned by institutional investors.
TEGNA Stock Up 0.9 %
NYSE:TGNA opened at $17.83 on Tuesday. The firm’s 50 day simple moving average is $17.96 and its 200 day simple moving average is $17.25. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60. TEGNA Inc. has a one year low of $12.35 and a one year high of $19.62. The company has a market cap of $2.85 billion, a PE ratio of 6.30 and a beta of 0.45.
TEGNA Announces Dividend
Wall Street Analyst Weigh In
TGNA has been the topic of several research reports. StockNews.com lowered shares of TEGNA from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Wells Fargo & Company raised shares of TEGNA from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $21.00 to $23.00 in a report on Thursday, December 19th. Finally, Guggenheim reaffirmed a “buy” rating and set a $22.00 price target on shares of TEGNA in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.75.
View Our Latest Stock Analysis on TEGNA
TEGNA Company Profile
TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.
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