New South Capital Management Inc buys $153,432,500 stake in Tegna Inc (TGNA)

Tegna Inc (TGNA) : New South Capital Management Inc scooped up 566,268 additional shares in Tegna Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 7,323,747 shares of Tegna Inc which is valued at $153,432,500.Tegna Inc makes up approximately 3.66% of New South Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Point View Wealth Management reduced its stake in TGNA by selling 621 shares or 1.55% in the most recent quarter. The Hedge Fund company now holds 39,330 shares of TGNA which is valued at $844,808. Tegna Inc makes up approx 0.50% of Point View Wealth Management’s portfolio.Td Asset Management Inc reduced its stake in TGNA by selling 8,530 shares or 7.74% in the most recent quarter. The Hedge Fund company now holds 101,685 shares of TGNA which is valued at $2,184,194.Mutual Of America Capital Management reduced its stake in TGNA by selling 15 shares or 0.06% in the most recent quarter. The Hedge Fund company now holds 25,310 shares of TGNA which is valued at $534,547. Tegna Inc makes up approx 0.01% of Mutual Of America Capital Management’s portfolio.Conning boosted its stake in TGNA in the latest quarter, The investment management firm added 110 additional shares and now holds a total of 9,978 shares of Tegna Inc which is valued at $226,002. Tegna Inc makes up approx 0.01% of Conning’s portfolio.

Tegna Inc opened for trading at $21.3 and hit $21.6 on the upside on Friday, eventually ending the session at $21.49, with a gain of 0.89% or 0.19 points. The heightened volatility saw the trading volume jump to 15,78,934 shares. Company has a market cap of $4,606 M.

On the company’s financial health, Tegna Inc reported $0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.48. The company had revenue of $811.79 million for the quarter, compared to analysts expectations of $814.74 million. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS.

Investors should note that on Jul 28, 2016, Tegna Inc announced a cash dividend of $0.1400. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Oct 3, 2016.

Many Wall Street Analysts have commented on Tegna Inc. The Benchmark Company Initiated Tegna Inc on Aug 19, 2016 to “Buy”, Price Target of the shares are set at $26.Shares were Reiterated by FBR Capital on Jul 27, 2016 to “Mkt Perform” and Lowered the Price Target to $ 24 from a previous price target of $25 .

TEGNA Inc. formerly Gannett Co. Inc. is a media and marketing solutions company. The Company is engaged in providing local content on a range of platforms in the United States. The Company operates through Broadcasting and Digital segments. It also provides digital marketing services and Internet-based human resource solutions. Its digital media products and services include search social media and Website development among others. The Company offers its services in a range of geographies demographics and content areas. The Company provides consumers with the information and entertainment and connects consumers to their communities through various platforms such as television stations desktop smartphone and tablet products. Its Broadcasting segment includes an independent station group of network affiliates. The Company’s Digital business segment includes Cars.com CareerBuilder and Shoplocal.

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