Hedge Funds Love These 5 Undervalued Mid-Cap Stocks

2. TEGNA Inc. (NYSE:TGNA)

Number of Hedge Fund Holders: 45   

PE Ratio: 10.49

TEGNA Inc. (NYSE:TGNA) operates as a media company. It was founded in 1906 and is based in Virginia. On February 28, the company posted earnings for the fourth quarter of 2021, reporting earnings per share of $0.57, beating market estimates by $0.02. The revenue over the period was $774 million, beating analyst expectations by $4.8 million. On February 22, the company had declared a quarterly dividend of $0.095 per share, in line with previous. The forward yield was 1.69%. 

Some of the networks that TEGNA Inc. (NYSE:TGNA) operates include True Crime Network, Quest, and Twist, among others. The firm owns and runs around  64 television stations in 51 markets across the globe. 

At the end of the fourth quarter of 2021, 45 hedge funds in the database of Insider Monkey held stakes worth $515 million in TEGNA Inc. (NYSE:TGNA), compared to 37 in the preceding quarter worth $420 million.