297,120 Shares in TEGNA Inc. (NYSE:TGNA) Acquired by Voloridge Investment Management LLC

Voloridge Investment Management LLC bought a new position in TEGNA Inc. (NYSE:TGNA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 297,120 shares of the company's stock, valued at approximately $5,434,000. Voloridge Investment Management LLC owned 0.18% of TEGNA at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp bought a new position in shares of TEGNA during the 4th quarter worth about $27,000. Smartleaf Asset Management LLC increased its holdings in shares of TEGNA by 95.6% during 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 increased its holdings in shares of TEGNA by 80.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock worth $31,000 after purchasing an additional 749 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of TEGNA during the 4th quarter worth about $32,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of TEGNA by 34.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,364 shares of the company's stock worth $80,000 after purchasing an additional 1,111 shares during the period. Institutional investors own 92.19% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on TGNA shares. Wall Street Zen downgraded shares of TEGNA from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Wells Fargo & Company dropped their price objective on shares of TEGNA from $23.00 to $21.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Guggenheim lifted their target price on shares of TEGNA from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. decreased their target price on shares of TEGNA from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 21st. Finally, Benchmark decreased their target price on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Two 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 presently has an average rating of "Moderate Buy" and a consensus target price of $20.25.

TEGNA Price Performance

Shares of TEGNA stock traded down $0.18 during trading on Friday, hitting $16.71. 1,418,727 shares of the company's stock traded hands, compared to its average volume of 1,954,602. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60. The firm's fifty day moving average price is $16.74 and its 200 day moving average price is $17.70. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $19.62. The company has a market cap of $2.69 billion, a PE ratio of 5.90 and a beta of 0.31.

TEGNA (NYSE:TGNA - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.37 earnings per share for the quarter, beating 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 business had revenue of $680.05 million for the quarter, compared to analyst estimates of $677.24 million. During the same period in the previous year, the business earned $0.45 EPS. The firm's revenue was down 4.8% on a year-over-year basis. Analysts forecast that TEGNA Inc. will post 3.02 earnings per share for the current year.

TEGNA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Friday, June 6th. TEGNA's dividend payout ratio (DPR) is currently 17.61%.

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.