Brevan Howard Capital Management LP Invests $753,000 in TEGNA Inc. (NYSE:TGNA)

Brevan Howard Capital Management LP acquired a new stake in TEGNA Inc. (NYSE:TGNA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 41,190 shares of the company's stock, valued at approximately $753,000.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in TEGNA by 26.2% in the third quarter. Principal Financial Group Inc. now owns 891,488 shares of the company's stock worth $14,068,000 after buying an additional 184,845 shares in the last quarter. GAMMA Investing LLC raised its stake in TEGNA by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company's stock worth $37,000 after buying an additional 757 shares in the last quarter. Sound Income Strategies LLC bought a new position in shares of TEGNA during the 4th quarter worth approximately $57,000. Linden Thomas Advisory Services LLC raised its stake in shares of TEGNA by 16.2% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 63,641 shares of the company's stock worth $1,164,000 after acquiring an additional 8,855 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of TEGNA by 13.6% during the 4th quarter. Blue Trust Inc. now owns 25,155 shares of the company's stock worth $460,000 after acquiring an additional 3,014 shares in the last quarter. Hedge funds and other institutional investors own 92.19% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on TGNA shares. StockNews.com lowered shares of TEGNA from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Benchmark decreased their price target on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Guggenheim raised their price target on shares of TEGNA from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Wells Fargo & Company cut their target price on TEGNA from $23.00 to $21.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, TEGNA has a consensus rating of "Moderate Buy" and a consensus target price of $20.50.

TEGNA Stock Performance

Shares of NYSE:TGNA traded down $0.08 during midday trading on Wednesday, reaching $17.65. The company's stock had a trading volume of 488,781 shares, compared to its average volume of 1,968,591. The firm has a market capitalization of $2.84 billion, a PE ratio of 6.24 and a beta of 0.31. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $19.62. The stock has a fifty day moving average of $17.04 and a 200 day moving average of $17.74. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07.

TEGNA (NYSE:TGNA - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.03. The firm had revenue of $680.05 million for the quarter, compared to analyst estimates of $677.24 million. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The business's quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 earnings per share. On average, equities analysts expect that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Company Profile

TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.