Alpine Associates Management Inc. Decreases Stake in Tegna Inc (TGNA)
Alpine Associates Management Inc. decreased its stake in Tegna Inc (NYSE:TGNA) by 8.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 357,077 shares of the company’s stock after selling 31,794 shares during the period. Alpine Associates Management Inc.’s holdings in Tegna were worth $5,027,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cerebellum GP LLC bought a new stake in shares of Tegna in the 4th quarter worth approximately $104,000. Point72 Asset Management L.P. bought a new stake in shares of Tegna in the 3rd quarter worth approximately $110,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Tegna by 523.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,337 shares of the company’s stock worth $138,000 after purchasing an additional 8,678 shares during the last quarter. Conning Inc. bought a new stake in shares of Tegna in the 4th quarter worth approximately $147,000. Finally, Outfitter Advisors LTD. bought a new stake in shares of Tegna in the 4th quarter worth approximately $159,000. 96.30% of the stock is currently owned by institutional investors and hedge funds.
In other Tegna news, SVP Clifton A. Mcclelland III sold 7,740 shares of Tegna stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $13.69, for a total transaction of $105,960.60. Following the sale, the senior vice president now owns 32,335 shares of the company’s stock, valued at approximately $442,666.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.81% of the stock is owned by insiders.
Shares of Tegna Inc (NYSE TGNA) opened at $13.76 on Wednesday. The company has a debt-to-equity ratio of 4.30, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market capitalization of $2,870.84, a price-to-earnings ratio of 10.27, a price-to-earnings-growth ratio of 6.58 and a beta of 1.65. Tegna Inc has a 12 month low of $11.59 and a 12 month high of $17.08.
Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
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