Trexquant Investment LP Invests $221,000 in TEGNA Inc. $TGNA

Key Points

• Trexquant Investment LP has acquired a new position in TEGNA Inc. by purchasing 12,119 shares valued at approximately $221,000 in the first quarter.
• TEGNA reported a quarterly earnings per share of $0.44, surpassing estimates of $0.38, and had a revenue of $675.05 million, although this reflects a 5.0% year-over-year decline.
• The company has announced a quarterly dividend of $0.125 per share, with a yearly yield of 2.4%, to be paid on October 1st to investors of record on September 5th.

Trexquant Investment LP bought a new stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 12,119 shares of the company's stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TGNA. Nuveen LLC bought a new position in shares of TEGNA during the first quarter worth $15,492,000. Deutsche Bank AG boosted its position in shares of TEGNA by 383.6% during the first quarter. Deutsche Bank AG now owns 756,941 shares of the company's stock worth $13,791,000 after acquiring an additional 600,407 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of TEGNA during the fourth quarter worth $7,955,000. Jane Street Group LLC lifted its position in TEGNA by 193.0% during the first quarter. Jane Street Group LLC now owns 573,255 shares of the company's stock valued at $10,445,000 after purchasing an additional 377,578 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new position in TEGNA during the fourth quarter valued at $5,434,000. 92.19% of the stock is owned by hedge funds and other institutional investors.

TEGNA Trading Down 0.1%

Shares of TEGNA stock traded down $0.02 during trading on Tuesday, hitting $21.03. The stock had a trading volume of 2,572,110 shares, compared to its average volume of 4,556,281. The firm's fifty day simple moving average is $18.98 and its 200-day simple moving average is $17.66. The stock has a market cap of $3.38 billion, a PE ratio of 7.56 and a beta of 0.28. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.47 and a quick ratio of 1.47. TEGNA Inc. has a 12 month low of $14.47 and a 12 month high of $21.35.

TEGNA (NYSE:TGNA - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.38 by $0.06. The company had revenue of $675.05 million for the quarter, compared to the consensus estimate of $673.92 million. TEGNA had a net margin of 14.99% and a return on equity of 16.20%. The firm's revenue was down 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 EPS. TEGNA has set its Q3 2025 guidance at EPS. As a group, sell-side analysts expect that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.50 dividend on an annualized basis and a yield of 2.4%. TEGNA's dividend payout ratio (DPR) is 17.99%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of TEGNA from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Wednesday, May 21st. Guggenheim reiterated a "neutral" rating and set a $19.00 price objective on shares of TEGNA in a research report on Friday, August 22nd. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $22.00 price objective (up previously from $21.00) on shares of TEGNA in a research report on Sunday, August 10th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $19.75.

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.