Taking a look at what insiders are doing to gauge the TEGNA Inc. (TGNA)’s direction


As published in a research note from Wells Fargo on May 05, 2022, TEGNA Inc. [TGNA] has been rated down from an Overweight to an Equal weight and the price target has been revised to $24. This represents a 9.79% premium over Thursday’s closing price. Analysts at Argus downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid April. As of September 22, 2021, Barrington Research has decreased its “an Outperform” rating to a “Mkt perform” for TGNA. Earlier on August 11, 2020, Wells Fargo upgraded its rating. Their new recommendation was “an Overweight” for TGNA stock which previously was a “an Equal weight”.

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Analyzing TGNA Stock Performance

The stock’s lowest price that day was $21.52, but it reached a high of $21.755 in the same session. During the last five days, there has been a surge of approximately 5.76%. Over the course of the year, TEGNA Inc. shares have jumped approximately 2.17%. Shares of the company reached a 52-week high of $21.96 on 02/22/23 and a 52-week low of $18.84 on 01/23/23. A 50-day SMA is recorded $20.30, while a 200-day SMA reached $20.70. Nevertheless, trading volume fell to 1.76 million shares from 5.2 million shares the previous day.

Support And Resistance Levels for TEGNA Inc. (TGNA)

According to the 24-hour chart, there is a support level at 21.53, which, if violated, would cause prices to drop to 21.41. In the upper region, resistance lies at 21.76. The next price resistance is at 21.88. RSI (Relative Strength Index) is 68.76 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.80, which suggests the price will decrease in the coming days. Percent R is at 14.49%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is TEGNA Inc. subject to short interest?

Stocks of TEGNA Inc. saw a sharp rise in short interest on Jan 12, 2023 jumping by 2.26 million shares to 6.97 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 4.71 million shares. A jump of 32.42% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.91 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.91.

Which companies own the most shares of TEGNA Inc. (TGNA)?

According to BlackRock Fund Advisors filings, the company currently owns 24,284,869 shares, which is about 10.88% of the total TGNA shares outstanding. The investor’s shares have appreciated by 1,158,216 from its previous 13-F filing of 23126653.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $460,737,933. A total of -19,694 shares of TEGNA Inc. were bought by Dimensional Fund Advisors LP during the quarter, and 258,715 were bought by TIG Advisors LLC. In its current portfolio, Segantii Capital Management Ltd. holds 5,417,253 shares valued at $107.97 million.

In terms of TEGNA Inc. share price expectations, FactSet research, analysts set an average price target of $24.00 in the next 12 months, up nearly 10.85% from the previous closing price of $21.65. Analysts anticipate TEGNA Inc. stock to reach $24.00 by 2023, with the lowest price target being $24.00. In spite of this, 5 analysts ranked TEGNA Inc. stock as an Overweight at the end of 2023. On February 12, 2020, The Benchmark Company assigned a price target of “a Buy” to the stock and reiterated coverage with a $22.


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