Fintel reports that on December 19, 2024, Wells Fargo upgraded their outlook for TEGNA (NYSE:TGNA) from Equal-Weight to Overweight.
Analyst Price Forecast Suggests 15.33% Upside
As of December 3, 2024, the average one-year price target for TEGNA is $20.91/share. The forecasts range from a low of $19.19 to a high of $24.15. The average price target represents an increase of 15.33% from its latest reported closing price of $18.13 / share.
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The projected annual revenue for TEGNA is 3,734MM, an increase of 26.26%. The projected annual non-GAAP EPS is 4.01.
What is the Fund Sentiment?
There are 873 funds or institutions reporting positions in TEGNA. This is an increase of 10 owner(s) or 1.16% in the last quarter. Average portfolio weight of all funds dedicated to TGNA is 0.21%, an increase of 3.64%. Total shares owned by institutions increased in the last three months by 20.65% to 215,244K shares. 
The put/call ratio of TGNA is 2.00, indicating a bearish outlook.
What are Other Shareholders Doing?
Pacer Advisors holds 10,806K shares representing 6.71% ownership of the company. In its prior filing, the firm reported owning 25K shares , representing an increase of 99.77%. The firm increased its portfolio allocation in TGNA by 44,834.88% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 10,512K shares representing 6.52% ownership of the company.
Lsv Asset Management holds 7,791K shares representing 4.84% ownership of the company. In its prior filing, the firm reported owning 8,025K shares , representing a decrease of 2.99%. The firm increased its portfolio allocation in TGNA by 7.52% over the last quarter.
VEIPX - Vanguard Equity Income Fund Investor Shares holds 5,839K shares representing 3.62% ownership of the company. In its prior filing, the firm reported owning 5,235K shares , representing an increase of 10.34%. The firm increased its portfolio allocation in TGNA by 18.09% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,303K shares representing 3.29% ownership of the company. In its prior filing, the firm reported owning 5,292K shares , representing an increase of 0.21%. The firm increased its portfolio allocation in TGNA by 6.55% over the last quarter.
TEGNA Background Information
(This description is provided by the company.)
TEGNA Inc. is an innovative media company that serves the greater good of its communities. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. With 64 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network affiliates in the top 25 markets among independent station groups, reaching approximately 39 percent of all television households nationwide. TEGNA also owns leading multicast networks True Crime Network and Quest. TEGNA Marketing Solutions (TMS) offers innovative solutions to help businesses reach consumers across television, digital and over-the-top (OTT) platforms, including Premion, TEGNA's OTT advertising service.
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