Saddle Road Partners buys $563,101 stake in Tegna Inc (TGNA)

Tegna Inc (TGNA) : Saddle Road Partners scooped up 1,861 additional shares in Tegna Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 23,620 shares of Tegna Inc which is valued at $563,101.Tegna Inc makes up approximately 0.12% of Saddle Road Partners’s portfolio.

Tegna Inc closed down -0.67 points or -2.79% at $23.35 with 43,71,878 shares getting traded on Wednesday. Post opening the session at $24.07, the shares hit an intraday low of $22.73 and an intraday high of $24.07 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , F&v Capital Management reduced its stake in TGNA by selling 420 shares or 4.34% in the most recent quarter. The Hedge Fund company now holds 9,250 shares of TGNA which is valued at $218,485. Tegna Inc makes up approx 0.17% of F&v Capital Management’s portfolio.Guinness Asset Management Ltd boosted its stake in TGNA in the latest quarter, The investment management firm added 17,830 additional shares and now holds a total of 96,810 shares of Tegna Inc which is valued at $2,286,652. Tegna Inc makes up approx 0.68% of Guinness Asset Management Ltd’s portfolio.Capstone Asset Management Co reduced its stake in TGNA by selling 1,140 shares or 5.44% in the most recent quarter. The Hedge Fund company now holds 19,811 shares of TGNA which is valued at $467,936. Tegna Inc makes up approx 0.01% of Capstone Asset Management Co’s portfolio.

On the company’s financial health, Tegna Inc reported $0.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.41. The company had revenue of $781.73 million for the quarter, compared to analysts expectations of $782.38 million. The company’s revenue was up 6.9% 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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