Deroy Devereaux Private Investment Counsel Inc buys $16,010,534 stake in Tegna Inc (TGNA)

Tegna Inc (TGNA) : Deroy Devereaux Private Investment Counsel Inc scooped up 383 additional shares in Tegna Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 15, 2016. The investment management firm now holds a total of 677,838 shares of Tegna Inc which is valued at $16,010,534.Tegna Inc makes up approximately 2.18% of Deroy Devereaux Private Investment Counsel Inc’s portfolio.

Tegna Inc closed down -0.48 points or -1.98% at $23.72 with 20,49,767 shares getting traded on Wednesday. Post opening the session at $24.21, the shares hit an intraday low of $23.635 and an intraday high of $24.37 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Crestpoint Capital Management added TGNA to its portfolio by purchasing 28,100 company shares during the most recent quarter which is valued at $663,722. Tegna Inc makes up approx 0.36% of Crestpoint Capital Management’s portfolio.Guinness Atkinson Asset Management Inc boosted its stake in TGNA in the latest quarter, The investment management firm added 13,640 additional shares and now holds a total of 209,530 shares of Tegna Inc which is valued at $4,949,099. Tegna Inc makes up approx 3.03% of Guinness Atkinson Asset Management Inc’s portfolio.

On the company’s financial health, Tegna Inc reported $0.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Feb 16, 2016. Analyst had a consensus of $0.46. The company had revenue of $805.30 million for the quarter, compared to analysts expectations of $823.74 million. The company’s revenue was down -4.4 % compared to the same quarter last year.

Many Wall Street Analysts have commented on Tegna Inc. Shares were Downgraded by Barclays on Apr 1, 2016 to ” Underweight” and Lowered the Price Target to $ 21 from a previous price target of $27 .

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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