Simon Sadler’s Segantii Capital is Bullish on These 5 Stocks

4. TEGNA Inc. (NYSE:TGNA)

Segantii Capital’s Stake Value: $99,086,000

Percentage of Segantii Capital’s 13F Portfolio: 2.86%

Number of Hedge Fund Holders: 44

Apart from The Liberty SiriusXM Group (NASDAQ:LSXMA), TEGNA Inc. (NYSE:TGNA) was another media company in which Segantii Capital held a stake during the first quarter. TEGNA Inc. (NYSE:TGNA) runs multicast networks under the names True Crime Network, Quest, and Twist that offer on-demand episodes of shows. TEGNA Inc. (NYSE:TGNA) also operates the VAULT Studios.

Bucking the overall downward trend in the stock market, TEGNA Inc.’s (NYSE:TGNA) stock has increased by over 18% year to date. In February, the management of TEGNA Inc. (NYSE:TGNA) revealed that it had agreed to sell the company to Standard General and Apollo Global Management, Inc. (NYSE:APO) for $24/share in cash. In May, the FCC extended a deadline for those opposing this deal to file petitions to deny the deal.