Greenland Capital Management LP Acquires Shares of 40,774 TEGNA Inc. $TGNA

Greenland Capital Management LP bought a new position in shares of TEGNA Inc. (NYSE:TGNA) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 40,774 shares of the company’s stock, valued at approximately $829,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TGNA. Hillsdale Investment Management Inc. increased its stake in TEGNA by 33.6% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 317,500 shares of the company’s stock worth $5,321,000 after acquiring an additional 79,900 shares during the period. New York Life Investment Management LLC acquired a new stake in shares of TEGNA during the 3rd quarter worth $6,936,000. Neuberger Berman Group LLC increased its position in shares of TEGNA by 60.4% in the second quarter. Neuberger Berman Group LLC now owns 37,414 shares of the company’s stock worth $627,000 after purchasing an additional 14,094 shares during the period. Brandywine Global Investment Management LLC raised its stake in TEGNA by 20.5% in the second quarter. Brandywine Global Investment Management LLC now owns 702,453 shares of the company’s stock valued at $11,773,000 after purchasing an additional 119,690 shares in the last quarter. Finally, Lee Danner & Bass Inc. raised its stake in TEGNA by 25.7% in the third quarter. Lee Danner & Bass Inc. now owns 334,815 shares of the company’s stock valued at $6,807,000 after purchasing an additional 68,520 shares in the last quarter. 92.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of TEGNA in a research note on Monday, December 29th. Zacks Research upgraded shares of TEGNA from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.75.

TEGNA Stock Up 0.5%

TGNA stock opened at $20.92 on Wednesday. The firm has a 50-day moving average price of $19.55 and a 200-day moving average price of $20.00. TEGNA Inc. has a 12 month low of $14.87 and a 12 month high of $21.35. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $3.37 billion, a P/E ratio of 9.87 and a beta of 0.15.

About TEGNA

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.