Shares of TEGNA (TGNA) Sees Large Outflow of Money

TEGNA (TGNA) : Money flow in the TEGNA (TGNA) stock was negative (3.63 million) on Tuesday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $4.34 million, compared to $7.98 million on downticks. The total uptick to downtick ratio was 0.54, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($3.68 million), indicating selling on the strength. The transaction value during uptick in block trades was $0.85 million. Downtick transaction value in block trades amounted to $4.53 million, indicating persistent selling. The uptick to downtick ratio was 0.19. TEGNA (TGNA) traded $0.05 higher at $20.48 gaining 0.24% over the previous days close.


Also, Benchmark initiates coverage on TEGNA (NYSE:TGNA). The current rating of the shares is Buy, according to the research report released by the firm. The brokerage firm announces the price target at $26 per share. The rating by the firm was issued on August 19, 2016.

TEGNA Inc. has lost 4.52% in the last five trading days and dropped 5.71% in the last 4 weeks. TEGNA Inc. has dropped 9.86% during the last 3-month period . Year-to-Date the stock performance stands at -18.8%.

TEGNA (NYSE:TGNA): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $20.50 and $20.37 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $20.53. The buying momentum continued till the end and the stock did not give up its gains. It closed at $20.48, notching a gain of 0.24% for the day. The total traded volume was 1,469,906 . The stock had closed at $20.43 on the previous day.

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, CareerBuilder and Shoplocal.

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