Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Tegna Inc (NYSE:TGNA) by 35.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,029 shares of the company’s stock after buying an additional 3,692 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tegna were worth $198,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of TGNA. Cerebellum GP LLC purchased a new stake in Tegna in the fourth quarter worth about $104,000. Point72 Asset Management L.P. purchased a new stake in Tegna in the third quarter worth about $110,000. Conning Inc. purchased a new stake in Tegna in the fourth quarter worth about $147,000. Outfitter Advisors LTD. purchased a new stake in Tegna in the fourth quarter worth about $159,000. Finally, Beacon Investment Advisory Services Inc. purchased a new stake in Tegna in the third quarter worth about $162,000. Institutional investors and hedge funds own 99.91% of the company’s stock.
In other Tegna news, SVP Clifton A. Mcclelland III sold 7,740 shares of Tegna stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 32,335 shares of the company’s stock, valued at approximately $442,666.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.81% of the company’s stock.
Shares of Tegna Inc (NYSE:TGNA) opened at $13.59 on Friday. The company has a debt-to-equity ratio of 4.30, a current ratio of 1.37 and a quick ratio of 1.37. Tegna Inc has a 1 year low of $11.59 and a 1 year high of $17.08. The company has a market cap of $3,010.73, a P/E ratio of 8.80, a price-to-earnings-growth ratio of 6.90 and a beta of 1.50.
Several research firms have recently issued reports on TGNA. Benchmark reiterated a “buy” rating and set a $19.00 target price on shares of Tegna in a report on Thursday. B. Riley reiterated a “neutral” rating on shares of Tegna in a report on Wednesday, November 1st. Noble Financial reiterated a “buy” rating on shares of Tegna in a report on Tuesday, November 14th. BidaskClub lowered shares of Tegna from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 7th. Finally, Zacks Investment Research lowered shares of Tegna from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $18.11.
Tegna Company Profile
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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