TEGNA Inc. (NYSE:TGNA) Shares Sold by Caxton Associates LP

Caxton Associates LP trimmed its position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 82.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,153 shares of the company's stock after selling 116,092 shares during the period. Caxton Associates LP's holdings in TEGNA were worth $442,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its position in TEGNA by 80.2% in 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 during the period. GAMMA Investing LLC raised its holdings in shares of TEGNA by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company's stock valued at $37,000 after purchasing an additional 757 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of TEGNA by 95.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company's stock valued at $31,000 after purchasing an additional 832 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of TEGNA by 4.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 23,193 shares of the company's stock valued at $424,000 after purchasing an additional 910 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of TEGNA by 34.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,364 shares of the company's stock valued at $80,000 after purchasing an additional 1,111 shares in the last quarter. 92.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TGNA has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of TEGNA from $23.00 to $21.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. StockNews.com downgraded shares of TEGNA from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Benchmark lowered their price target on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Finally, Guggenheim lowered their price target on shares of TEGNA from $22.00 to $20.00 and set a "buy" rating on the stock in a report 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $20.00.

TEGNA Price Performance

NYSE:TGNA traded up $0.17 during trading hours on Monday, reaching $17.26. 565,675 shares of the company were exchanged, compared to its average volume of 1,980,066. 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 stock's 50-day moving average is $17.05 and its 200-day moving average is $17.73. The firm has a market cap of $2.77 billion, a PE ratio of 6.10 and a beta of 0.31. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $19.62.

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

TEGNA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th were paid a $0.125 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.90%. TEGNA's dividend payout ratio is presently 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.