Caxton Associates LLP Purchases New Stake in TEGNA Inc. $TGNA

Key Points

• Caxton Associates LLP has acquired a new position in TEGNA Inc., purchasing 135,265 shares for approximately $2,465,000, representing around 0.08% ownership of the company.
• TEGNA has reported a quarterly earnings per share (EPS) of $0.44, exceeding consensus estimates of $0.38, with a revenue of $675.05 million, a slight decline from the previous year.
• The company declared a quarterly dividend of $0.125 per share, indicating a 2.4% dividend yield, with the ex-dividend date set for September 5th.

Caxton Associates LLP acquired a new stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 135,265 shares of the company's stock, valued at approximately $2,465,000. Caxton Associates LLP owned approximately 0.08% of TEGNA at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Public Sector Pension Investment Board grew its stake in TEGNA by 48.7% in the 1st quarter. Public Sector Pension Investment Board now owns 596,868 shares of the company's stock worth $10,875,000 after buying an additional 195,396 shares in the last quarter. Principal Financial Group Inc. grew its stake in TEGNA by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 934,711 shares of the company's stock worth $17,030,000 after buying an additional 23,094 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new position in TEGNA in the 1st quarter worth approximately $5,371,000. Deutsche Bank AG grew its stake in TEGNA by 383.6% in the 1st quarter. Deutsche Bank AG now owns 756,941 shares of the company's stock worth $13,791,000 after buying an additional 600,407 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in TEGNA by 53.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,376 shares of the company's stock worth $341,000 after buying an additional 6,433 shares in the last quarter. Hedge funds and other institutional investors own 92.19% of the company's stock.

TEGNA Trading Up 0.2%

Shares of TGNA traded up $0.04 during mid-day trading on Friday, reaching $21.05. The company's stock had a trading volume of 4,084,608 shares, compared to its average volume of 4,612,165. The stock has a market cap of $3.39 billion, a PE ratio of 7.57 and a beta of 0.28. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.82. TEGNA Inc. has a 52 week low of $14.03 and a 52 week high of $21.35. The company's fifty day moving average price is $18.82 and its two-hundred day moving average price is $17.62.

TEGNA (NYSE:TGNA - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.06. The firm had revenue of $675.05 million during the quarter, compared to analyst estimates of $673.92 million. TEGNA had a net margin of 14.99% and a return on equity of 16.20%. The business's quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 EPS. TEGNA has set its Q3 2025 guidance at EPS. On average, analysts predict that TEGNA Inc. will post 3.02 earnings per share for the current fiscal year.

TEGNA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, September 5th. TEGNA's dividend payout ratio is currently 17.99%.

Wall Street Analyst Weigh In

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

TEGNA Company 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.