Tegna Inc (NYSE:TGNA) Has Decline in Shorts

July 14, 2018 - By Vernon Rice

TEGNA Inc. (NYSE:TGNA) Logo

The stock of Tegna Inc (NYSE:TGNA) registered a decrease of 6.35% in short interest. TGNA’s total short interest was 11.84M shares in July as published by FINRA. Its down 6.35% from 12.64M shares, reported previously. With 1.97M shares average volume, it will take short sellers 6 days to cover their TGNA’s short positions. The short interest to Tegna Inc’s float is 5.52%.

The stock decreased 0.83% or $0.1 during the last trading session, reaching $11.95. About 2.09M shares traded. TEGNA Inc. (NYSE:TGNA) has declined 29.96% since July 14, 2017 and is downtrending. It has underperformed by 42.53% the S&P500.

TEGNA Inc., a media company, operates a portfolio of broadcast stations and digital sites; and provides marketing service solutions for businesses. The company has market cap of $2.58 billion. The firm operates 46 television stations in 38 markets that produce local programming, such as news, sports, and entertainment. It has a 9.49 P/E ratio. The Company’s marketing services business provides solutions for clients on multiple channels, including broadcast, online, and OTT.

TEGNA Inc. (NYSE:TGNA) Ratings Coverage

Among 7 analysts covering TEGNA Inc (NYSE:TGNA), 3 have Buy rating, 1 Sell and 3 Hold. Therefore 43% are positive. TEGNA Inc had 9 analyst reports since March 2, 2018 according to SRatingsIntel. Barclays Capital maintained the stock with “Underweight” rating in Monday, March 5 report. The stock has “Neutral” rating by FBR Capital on Wednesday, May 9. The rating was upgraded by Stephens on Wednesday, April 25 to “Buy”. On Tuesday, April 3 the stock rating was maintained by RBC Capital Markets with “Hold”. The company was maintained on Wednesday, May 30 by Argus Research. Barclays Capital maintained TEGNA Inc. (NYSE:TGNA) on Monday, April 23 with “Underweight” rating. The firm has “Buy” rating by Guggenheim given on Thursday, April 12. The firm has “Neutral” rating by B. Riley & Co given on Tuesday, March 20.

TEGNA Inc. (NYSE:TGNA) Ratings Chart

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