GSA Capital Partners LLP Purchases Shares of 92,196 TEGNA Inc. (NYSE:TGNA)

GSA Capital Partners LLP bought a new stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 92,196 shares of the company's stock, valued at approximately $1,680,000. GSA Capital Partners LLP owned about 0.06% of TEGNA as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in TGNA. Tower Research Capital LLC TRC boosted its stake in shares of TEGNA by 80.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock valued at $31,000 after purchasing an additional 749 shares during the period. Blue Trust Inc. boosted its position in TEGNA by 26.0% during the 1st quarter. Blue Trust Inc. now owns 4,227 shares of the company's stock valued at $77,000 after buying an additional 873 shares during the period. Pictet Asset Management Holding SA grew its holdings in TEGNA by 4.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 23,193 shares of the company's stock worth $424,000 after acquiring an additional 910 shares during the last quarter. GAMMA Investing LLC grew its holdings in TEGNA by 53.3% in the 1st quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock worth $57,000 after acquiring an additional 1,088 shares during the last quarter. Finally, Integrated Advisors Network LLC increased its position in shares of TEGNA by 7.9% in the fourth quarter. Integrated Advisors Network LLC now owns 16,040 shares of the company's stock valued at $293,000 after acquiring an additional 1,171 shares during the period. Hedge funds and other institutional investors own 92.19% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TGNA. Wells Fargo & Company dropped their target price on shares of TEGNA from $23.00 to $21.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Guggenheim cut their price objective on TEGNA from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. decreased their target price on TEGNA from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Wednesday, May 21st. Finally, Benchmark cut 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. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, TEGNA currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.00.

TEGNA Stock Down 0.8%

Shares of TGNA stock traded down $0.14 during midday trading on Wednesday, reaching $16.73. 1,722,038 shares of the stock were exchanged, compared to its average volume of 1,191,109. TEGNA Inc. has a 1 year low of $13.37 and a 1 year high of $19.62. The firm has a market cap of $2.69 billion, a PE ratio of 5.89 and a beta of 0.30. The company's 50 day moving average is $16.81 and its two-hundred day moving average is $17.23. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.83.

TEGNA (NYSE:TGNA - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.34 by $0.03. TEGNA had a return on equity of 17.13% and a net margin of 15.29%. The business had revenue of $680.05 million during the quarter, compared to analyst estimates of $677.24 million. During the same quarter last year, the firm posted $0.45 earnings per share. The company's revenue for the quarter was down 4.8% on a year-over-year basis. On average, equities research analysts predict that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Friday, June 6th. TEGNA's dividend payout ratio is presently 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.