Public Employees Retirement System of Ohio Increases Stake in Tegna Inc (TGNA)
Public Employees Retirement System of Ohio increased its holdings in Tegna Inc (NYSE:TGNA) by 38.1% in the fourth quarter, HoldingsChannel reports. The firm owned 2,286,334 shares of the company’s stock after acquiring an additional 631,210 shares during the period. Public Employees Retirement System of Ohio’s holdings in Tegna were worth $32,192,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Lapides Asset Management LLC boosted its stake in shares of Tegna by 85.2% in the 4th quarter. Lapides Asset Management LLC now owns 442,700 shares of the company’s stock valued at $6,233,000 after purchasing an additional 203,700 shares in the last quarter. Barings LLC purchased a new stake in shares of Tegna in the 4th quarter valued at $908,000. Sei Investments Co. boosted its stake in shares of Tegna by 12.4% in the 4th quarter. Sei Investments Co. now owns 344,631 shares of the company’s stock valued at $4,853,000 after purchasing an additional 37,914 shares in the last quarter. New Mexico Educational Retirement Board purchased a new stake in shares of Tegna in the 4th quarter valued at $750,000. Finally, Trilogy Capital Inc. purchased a new stake in Tegna during the 4th quarter valued at $206,000. 96.30% of the stock is owned by institutional investors.
Shares of Tegna Inc (NYSE TGNA) opened at $13.76 on Wednesday. The firm has a market cap of $2,922.50, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 6.69 and a beta of 1.65. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 4.30. Tegna Inc has a 12-month low of $11.59 and a 12-month high of $17.08.
Several brokerages have weighed in on TGNA. B. Riley reissued a “neutral” rating on shares of Tegna in a research report on Wednesday, November 1st. Zacks Investment Research raised shares of Tegna from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Friday, February 2nd. FBR & Co reissued a “hold” rating and set a $15.00 price target on shares of Tegna in a research report on Wednesday, November 1st. Noble Financial reissued a “buy” rating on shares of Tegna in a research report on Tuesday, November 14th. Finally, ValuEngine raised shares of Tegna from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 1st. Two research analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $18.22.
TRADEMARK VIOLATION WARNING: This story was published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this story on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The correct version of this story can be accessed at https://theolympiareport.com/2018/02/14/public-employees-retirement-system-of-ohio-increases-stake-in-tegna-inc-tgna.html.
Tegna Company Profile
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.
Want to see what other hedge funds are holding TGNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tegna Inc (NYSE:TGNA).
Receive News & Ratings for Tegna Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tegna and related companies with MarketBeat.com's FREE daily email newsletter.