Bridgeway Capital Management LLC Acquires 85,113 Shares of TEGNA Inc. (NYSE:TGNA)

Bridgeway Capital Management LLC increased its stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 7.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,233,329 shares of the company's stock after buying an additional 85,113 shares during the quarter. TEGNA accounts for about 0.5% of Bridgeway Capital Management LLC's investment portfolio, making the stock its 19th largest position. Bridgeway Capital Management LLC owned 0.77% of TEGNA worth $22,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new position in shares of TEGNA in the 4th quarter valued at about $27,000. Smartleaf Asset Management LLC lifted its holdings in TEGNA by 95.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company's stock valued at $31,000 after buying an additional 832 shares during the period. Tower Research Capital LLC TRC boosted its stake in TEGNA by 80.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock valued at $31,000 after acquiring an additional 749 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in TEGNA during the 4th quarter worth $32,000. Finally, GAMMA Investing LLC grew its holdings in TEGNA by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company's stock worth $37,000 after acquiring an additional 757 shares during the period. Institutional investors and hedge funds own 92.19% of the company's stock.

Analyst Upgrades and Downgrades

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

TEGNA Stock Down 0.4 %

Shares of NYSE TGNA traded down $0.07 during mid-day trading on Friday, reaching $17.06. 1,228,613 shares of the company's stock were exchanged, compared to its average volume of 1,988,806. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $19.62. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 6.03 and a beta of 0.31. The business has a fifty day simple moving average of $17.05 and a 200 day simple moving average of $17.71.

TEGNA (NYSE:TGNA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.34 by $0.03. The firm had revenue of $680.05 million for the quarter, compared to the consensus estimate of $677.24 million. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The business's quarterly revenue was down 4.8% on a year-over-year basis. During the same period last year, the company posted $0.45 EPS. As a group, equities analysts expect that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend was Friday, March 7th. TEGNA's payout ratio is presently 14.12%.

TEGNA Profile

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.