Gabelli Funds LLC Increases Stock Position in TEGNA Inc. (NYSE:TGNA)

Gabelli Funds LLC boosted its stake in TEGNA Inc. (NYSE:TGNAFree Report) by 3.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,875,027 shares of the company’s stock after buying an additional 62,173 shares during the period. Gabelli Funds LLC owned 0.93% of TEGNA worth $27,319,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV increased its stake in shares of TEGNA by 24.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,308 shares of the company’s stock worth $54,000 after acquiring an additional 642 shares in the last quarter. Truist Financial Corp boosted its position in shares of TEGNA by 3.1% in the 2nd quarter. Truist Financial Corp now owns 25,929 shares of the company’s stock worth $421,000 after purchasing an additional 778 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of TEGNA by 15.1% in the 2nd quarter. Captrust Financial Advisors now owns 6,843 shares of the company’s stock worth $144,000 after buying an additional 897 shares during the last quarter. Aspen Grove Capital LLC increased its position in TEGNA by 7.7% during the 2nd quarter. Aspen Grove Capital LLC now owns 12,918 shares of the company’s stock valued at $211,000 after buying an additional 918 shares in the last quarter. Finally, Belpointe Asset Management LLC raised its stake in TEGNA by 189.5% during the first quarter. Belpointe Asset Management LLC now owns 1,459 shares of the company’s stock valued at $25,000 after buying an additional 955 shares during the last quarter. 89.99% of the stock is owned by institutional investors.

TEGNA Stock Down 1.9 %

Shares of NYSE:TGNA opened at $15.16 on Tuesday. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 5.36 and a beta of 0.54. The company has a current ratio of 3.47, a quick ratio of 3.47 and a debt-to-equity ratio of 1.04. The company has a 50-day moving average price of $15.42 and a 200 day moving average price of $15.51. TEGNA Inc. has a 12 month low of $13.65 and a 12 month high of $22.29.

TEGNA (NYSE:TGNAGet Free Report) last released its earnings results on Tuesday, November 7th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.05. The business had revenue of $713.24 million for the quarter, compared to analyst estimates of $715.00 million. TEGNA had a return on equity of 16.65% and a net margin of 19.96%. As a group, equities research analysts predict that TEGNA Inc. will post 1.8 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO David T. Lougee sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $15.38, for a total transaction of $1,538,000.00. Following the completion of the transaction, the chief executive officer now owns 786,262 shares in the company, valued at approximately $12,092,709.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TGNA has been the subject of several analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $17.00 price target on shares of TEGNA in a report on Wednesday, December 6th. Wells Fargo & Company dropped their target price on shares of TEGNA from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 8th. Finally, Benchmark reissued a “buy” rating and set a $22.00 price target on shares of TEGNA in a research report on Monday, October 30th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $19.50.

Get Our Latest Stock Report on TGNA

TEGNA Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for TEGNA (NYSE:TGNA)

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