Stocks of TEGNA (NYSE:TGNA) rallied by 1.6% during the past week but lost 1.37% on a 4-week basis. The company has outperformed the S&P 500 by 2.82% in the past week but underperformed the index by 2.27% in the last 4 weeks.
TEGNA (NYSE:TGNA): The stock opened at $22.20 on Friday but the bulls could not build on the opening and the stock topped out at $22.49 for the day. The stock traded down to $22.17 during the day, due to lack of any buying support eventually closed down at $22.26 with a loss of -0.09% for the day. The stock had closed at $22.28 on the previous day. The total traded volume was 2,479,758 shares.
Many analysts have stated their opinion on the company shares. Major Brokerage house, Evercore ISI Group downgrades its ratings on TEGNA (NYSE:TGNA). According to the latest information available, the shares are now rated Hold by the analysts at the agency. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on June 10, 2016. Currently the company Insiders own 0.68% of TEGNA shares according to the proxy statements. Institutional Investors own 90.06% of TEGNA shares.
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 Companys Digital business segment includes Cars.com, CareerBuilder and Shoplocal.