Hussman Strategic Advisors adds Tegna Inc (TGNA) to its portfolio

Tegna Inc (TGNA) : Hussman Strategic Advisors added new position in Tegna Inc during the most recent quarter end. The investment management firm now holds 6,500 shares of Tegna Inc which is valued at $137,280 , the company said in a statement filed on Aug 1, 2016 with the SEC.Tegna Inc makes up approximately 0.02% of Hussman Strategic Advisors’s portfolio.

Other Hedge Funds, Including , Aberdeen Asset Management Plcuk reduced its stake in TGNA by selling 675 shares or 1.03% in the most recent quarter. The Hedge Fund company now holds 65,153 shares of TGNA which is valued at $1,376,031.Ibm Retirement Fund reduced its stake in TGNA by selling 1,182 shares or 5.1% in the most recent quarter. The Hedge Fund company now holds 21,994 shares of TGNA which is valued at $546,551. Tegna Inc makes up approx 0.02% of Ibm Retirement Fund’s portfolio.

Tegna Inc closed down -0.17 points or -0.80% at $20.95 with 25,66,034 shares getting traded on Thursday. Post opening the session at $21.12, the shares hit an intraday low of $20.84 and an intraday high of $21.3 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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. 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 CareerBuilder and Shoplocal.

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