Greenland Capital Management LP Takes $829,000 Position in TEGNA Inc. $TGNA

Greenland Capital Management LP acquired a new position in shares of TEGNA Inc. (NYSE:TGNA) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 40,774 shares of the company’s stock, valued at approximately $829,000.

Other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in shares of TEGNA by 13.0% during the third quarter. EverSource Wealth Advisors LLC now owns 4,480 shares of the company’s stock valued at $91,000 after purchasing an additional 517 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in TEGNA by 12.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,810 shares of the company’s stock worth $118,000 after buying an additional 653 shares during the period. Arizona State Retirement System increased its position in TEGNA by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 47,560 shares of the company’s stock valued at $967,000 after acquiring an additional 657 shares during the period. Parkside Financial Bank & Trust increased its position in TEGNA by 12.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 6,295 shares of the company’s stock valued at $106,000 after acquiring an additional 706 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey raised its stake in shares of TEGNA by 2.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 36,978 shares of the company’s stock valued at $620,000 after acquiring an additional 838 shares during the last quarter. 92.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TGNA has been the subject of a number of recent research reports. Zacks Research upgraded TEGNA from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings reissued a “hold (c)” rating on shares of TEGNA in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $19.75.

TEGNA Price Performance

Shares of NYSE TGNA opened at $20.92 on Wednesday. The company has a market capitalization of $3.37 billion, a PE ratio of 9.87 and a beta of 0.15. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.81. TEGNA Inc. has a twelve month low of $14.87 and a twelve month high of $21.35. The firm has a fifty day simple moving average of $19.55 and a 200 day simple moving average of $20.00.

TEGNA Profile

TEGNA Inc is a leading U.S. broadcast and digital media company that was formed as a spin-off from Gannett Co, Inc in June 2015. The company’s primary operations include the ownership and operation of local television stations, digital publishing platforms and marketing solutions designed to serve both national advertisers and local businesses. Through its portfolio of media assets, TEGNA delivers news, information and entertainment across multiple platforms, including over-the-air broadcasts, cable and satellite distribution, streaming services and proprietary websites and mobile apps.

TEGNA owns and operates approximately 60 television stations in 51 markets, reaching nearly 40 percent of U.S.