AQR Capital Management LLC Lowers Holdings in TEGNA Inc. (NYSE:TGNA)

AQR Capital Management LLC trimmed its holdings in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 43.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,386,014 shares of the company's stock after selling 1,063,806 shares during the quarter. AQR Capital Management LLC owned approximately 0.86% of TEGNA worth $25,350,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new stake in TEGNA in the 4th quarter worth $27,000. Smartleaf Asset Management LLC boosted its stake in TEGNA by 95.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company's stock worth $31,000 after purchasing an additional 832 shares during the period. Tower Research Capital LLC TRC grew its holdings in TEGNA by 80.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock valued at $31,000 after buying an additional 749 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of TEGNA during the fourth quarter valued at approximately $32,000. Finally, GAMMA Investing LLC lifted its holdings in shares of TEGNA by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company's stock worth $37,000 after buying an additional 757 shares in the last quarter. 92.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on TGNA. Benchmark dropped their price objective on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday. Guggenheim cut their target price on shares of TEGNA from $22.00 to $20.00 and set a "buy" rating for the company in a report on Friday, April 11th. Wells Fargo & Company lowered their price target on shares of TEGNA from $23.00 to $21.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Finally, StockNews.com lowered shares of TEGNA from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, TEGNA has a consensus rating of "Moderate Buy" and an average price target of $20.00.

TEGNA Stock Up 2.7 %

NYSE:TGNA traded up $0.45 during trading hours on Thursday, reaching $17.12. The company's stock had a trading volume of 2,433,237 shares, compared to its average volume of 2,004,692. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. The company has a market capitalization of $2.75 billion, a P/E ratio of 6.05 and a beta of 0.31. The stock has a 50 day moving average price of $17.06 and a two-hundred day moving average price of $17.70. TEGNA Inc. has a 12 month low of $12.35 and a 12 month high of $19.62.

TEGNA (NYSE:TGNA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.03. The company had revenue of $680.05 million for the quarter, compared to the consensus estimate of $677.24 million. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The firm's revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 earnings per share. Equities analysts predict that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were given a dividend of $0.125 per share. The ex-dividend date was Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.92%. TEGNA's payout ratio is 14.12%.

About TEGNA

TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.