5 Best Cheap Tech Stocks to Buy According to Mario Gabelli

4. TEGNA Inc. (NYSE: TGNA)

Number of Hedge Fund Holders: 20  

TEGNA Inc. (NYSE: TGNA) is a Virginia-based company that focuses on digital media and marketing. It was founded in 2017 and is ranked fourth on our list of 10 best cheap tech stocks to buy according to Mario Gabelli. TEGNA stock has offered investors returns exceeding 65% in the past twelve months. The hedge fund run by Gabelli owns 549,300 shares in the company worth over $10.3 million, representing 0.09% of their portfolio. GAMCO Investors has trimmed their stake in the firm by close to half over the past few months. 

On May 10, TEGNA Inc. (NYSE: TGNA) posted earnings for the first three months of 2021, reporting earnings per share of $0.52, beating market predictions by $0.03. The revenue over the period was over $727 million, up 6.3% year-on-year. 

At the end of the first quarter of 2021, 20 hedge funds in the database of Insider Monkey held stakes worth $334 million in TEGNA Inc. (NYSE: TGNA), down from 34 in the preceding quarter worth $286 million.