Icahn Carl C Exits Position in Tegna Inc (TGNA)

Tegna Inc (TGNA) : Icahn Carl C has sold out all of its stake in Tegna Inc during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 12,771,865 shares of Tegna Inc which is valued at $267,570,572.

Other Hedge Funds, Including , Babson Capital Management reduced its stake in TGNA by selling 207,300 shares or 87.4% in the most recent quarter. The Hedge Fund company now holds 29,874 shares of TGNA which is valued at $625,860. Tegna Inc makes up approx 0.03% of Babson Capital Management’s portfolio. Harvest Management sold out all of its stake in TGNA during the most recent quarter. The investment firm sold 9,400 shares of TGNA which is valued $196,930.Bluemountain Capital Management boosted its stake in TGNA in the latest quarter, The investment management firm added 340,754 additional shares and now holds a total of 350,568 shares of Tegna Inc which is valued at $7,344,400. Tegna Inc makes up approx 0.22% of Bluemountain Capital Management’s portfolio.Raymond James Associates boosted its stake in TGNA in the latest quarter, The investment management firm added 193,272 additional shares and now holds a total of 210,214 shares of Tegna Inc which is valued at $4,403,983. Tegna Inc makes up approx 0.01% of Raymond James Associates’s portfolio.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 opened for trading at $20.25 and hit $20.6 on the upside on Thursday, eventually ending the session at $20.38, with a gain of 0.59% or 0.12 points. The heightened volatility saw the trading volume jump to 18,07,965 shares. Company has a market cap of $4,368 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.

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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