Alberta Investment Management Corp Acquires New Holdings in TEGNA Inc. $TGNA

Alberta Investment Management Corp bought a new position in shares of TEGNA Inc. (NYSE:TGNA) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 79,425 shares of the company’s stock, valued at approximately $1,615,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rothschild Investment LLC lifted its stake in shares of TEGNA by 10.2% in the third quarter. Rothschild Investment LLC now owns 27,230 shares of the company’s stock worth $554,000 after buying an additional 2,524 shares during the last quarter. Guidance Capital Inc. lifted its position in TEGNA by 2.7% during the 3rd quarter. Guidance Capital Inc. now owns 31,988 shares of the company’s stock worth $640,000 after acquiring an additional 840 shares during the last quarter. JPMorgan Chase & Co. lifted its position in TEGNA by 11.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 625,632 shares of the company’s stock worth $12,719,000 after acquiring an additional 65,720 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in TEGNA by 12.7% during the third quarter. PNC Financial Services Group Inc. now owns 5,810 shares of the company’s stock valued at $118,000 after acquiring an additional 653 shares during the period. Finally, Assetmark Inc. grew its position in shares of TEGNA by 9.4% in the third quarter. Assetmark Inc. now owns 218,403 shares of the company’s stock valued at $4,440,000 after purchasing an additional 18,734 shares during the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.

TEGNA Trading Down 0.4%

Shares of TGNA stock opened at $20.86 on Friday. The firm has a fifty day moving average of $19.48 and a 200-day moving average of $19.84. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 9.84 and a beta of 0.15. TEGNA Inc. has a 52-week low of $14.87 and a 52-week high of $21.35. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.22 and a current ratio of 2.22.

Analysts Set New Price Targets

TGNA has been the topic of a number of recent analyst reports. Zacks Research upgraded TEGNA from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TEGNA in a report on Monday, December 29th. Finally, Wells Fargo & Company lowered TEGNA from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.75.

TEGNA 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.