Alberta Investment Management Corp Takes $1.62 Million Position in TEGNA Inc. $TGNA

Alberta Investment Management Corp purchased a new position in TEGNA Inc. (NYSE:TGNA) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 79,425 shares of the company’s stock, valued at approximately $1,615,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of TGNA. Financial Consulate Inc. purchased a new stake in shares of TEGNA in the 3rd quarter valued at approximately $29,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in TEGNA during the 2nd quarter valued at $38,000. Federated Hermes Inc. lifted its holdings in shares of TEGNA by 85.4% in the third quarter. Federated Hermes Inc. now owns 1,852 shares of the company’s stock valued at $38,000 after purchasing an additional 853 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of TEGNA by 160.4% in the third quarter. Smartleaf Asset Management LLC now owns 2,377 shares of the company’s stock worth $48,000 after buying an additional 1,464 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of TEGNA by 1,018.3% during the second quarter. Caitong International Asset Management Co. Ltd now owns 2,997 shares of the company’s stock valued at $50,000 after buying an additional 2,729 shares in the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.

TEGNA Price Performance

NYSE TGNA opened at $20.86 on Friday. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $3.36 billion, a PE ratio of 9.84 and a beta of 0.15. The company has a 50 day moving average price of $19.48 and a two-hundred day moving average price of $19.84. TEGNA Inc. has a 12-month low of $14.87 and a 12-month high of $21.35.

Analyst Ratings Changes

Several brokerages recently issued reports on TGNA. Wells Fargo & Company downgraded TEGNA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of TEGNA in a report on Monday, December 29th. Finally, Zacks Research raised shares of TEGNA from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, TEGNA presently has a consensus rating of “Hold” and an average price target of $19.75.

TEGNA Company Profile

TEGNA Inc is a leading U.S. broadcast and digital media company that was formed as a spin-off from Gannett Co, Inc in June 2015. The company’s primary operations include the ownership and operation of local television stations, digital publishing platforms and marketing solutions designed to serve both national advertisers and local businesses. Through its portfolio of media assets, TEGNA delivers news, information and entertainment across multiple platforms, including over-the-air broadcasts, cable and satellite distribution, streaming services and proprietary websites and mobile apps.

TEGNA owns and operates approximately 60 television stations in 51 markets, reaching nearly 40 percent of U.S.