TEGNA Inc. (NYSE:TGNA) Shares Acquired by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. grew its position in TEGNA Inc. (NYSE:TGNA - Free Report) by 558.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,477 shares of the company's stock after buying an additional 188,695 shares during the quarter. Balyasny Asset Management L.P. owned 0.14% of TEGNA worth $4,069,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of TGNA. Tower Research Capital LLC TRC raised its stake in TEGNA by 80.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock valued at $31,000 after acquiring an additional 749 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of TEGNA by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company's stock worth $37,000 after acquiring an additional 757 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of TEGNA by 95.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company's stock worth $31,000 after acquiring an additional 832 shares during the period. Pictet Asset Management Holding SA grew its holdings in shares of TEGNA by 4.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 23,193 shares of the company's stock worth $424,000 after acquiring an additional 910 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in shares of TEGNA by 34.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,364 shares of the company's stock worth $80,000 after acquiring an additional 1,111 shares during the period. 92.19% of the stock is owned by institutional investors and hedge funds.

TEGNA Stock Performance

TGNA stock traded down $0.15 during midday trading on Wednesday, reaching $17.58. The company had a trading volume of 1,854,163 shares, compared to its average volume of 1,970,901. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. The stock has a 50 day moving average price of $17.04 and a 200 day moving average price of $17.74. TEGNA Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $19.62. The firm has a market capitalization of $2.83 billion, a PE ratio of 6.21 and a beta of 0.31.

TEGNA (NYSE:TGNA - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.03. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The company had revenue of $680.05 million during the quarter, compared to the consensus estimate of $677.24 million. During the same period in the previous year, the firm posted $0.45 earnings per share. TEGNA's quarterly revenue was down 4.8% compared to the same quarter last year. Analysts anticipate that TEGNA Inc. will post 3.02 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on TGNA. Guggenheim increased their target price on TEGNA from $20.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday. StockNews.com lowered TEGNA from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Benchmark cut their price objective on TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company lowered their target price on TEGNA from $23.00 to $21.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, TEGNA presently has an average rating of "Moderate Buy" and an average target price of $20.50.

TEGNA 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.