Baldwin Brothers Incma buys $8.3 Million stake in Tegna Inc (TGNA)

Tegna Inc (TGNA) : Baldwin Brothers Incma scooped up 11,049 additional shares in Tegna Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 365,852 shares of Tegna Inc which is valued at $8.3 Million.Tegna Inc makes up approximately 1.50% of Baldwin Brothers Incma’s portfolio.

Other Hedge Funds, Including , Trustmark National Bank Trust Department reduced its stake in TGNA by selling 1,250 shares or 1.59% in the most recent quarter. The Hedge Fund company now holds 77,130 shares of TGNA which is valued at $1.8 Million. Tegna Inc makes up approx 0.24% of Trustmark National Bank Trust Department’s portfolio.Orinda Asset Management boosted its stake in TGNA in the latest quarter, The investment management firm added 2,862 additional shares and now holds a total of 7,379 shares of Tegna Inc which is valued at $169,200. Tegna Inc makes up approx 0.30% of Orinda Asset Management’s portfolio.Ramsey Quantitative Systems reduced its stake in TGNA by selling 876 shares or 4.54% in the most recent quarter. The Hedge Fund company now holds 18,413 shares of TGNA which is valued at $422,210. Tegna Inc makes up approx 0.44% of Ramsey Quantitative Systems’s portfolio.Ifp Advisors Inc reduced its stake in TGNA by selling 494 shares or 21.92% in the most recent quarter. The Hedge Fund company now holds 1,760 shares of TGNA which is valued at $40,357.

Tegna Inc opened for trading at $22.38 and hit $22.82 on the upside on Friday, eventually ending the session at $22.57, with a gain of 1.58% or 0.35 points. The heightened volatility saw the trading volume jump to 10,00,351 shares. Company has a market cap of $4,910,961 M.

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.

Investors should note that on May 5, 2016, Tegna Inc announced a cash dividend of $0.1400. The company’s management has announced Jun 1, 2016 as the ex-dividend date and fixed the record date on Jun 3, 2016. The payable date has been fixed on Jul 1, 2016.

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 Cars.com CareerBuilder and Shoplocal.

Leave a Reply

Tegna Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on Tegna Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.