Algert Global LLC Buys 22,310 Shares of TEGNA Inc. $TGNA

Key Points

• Algert Global LLC raised its position in TEGNA Inc. by 26.4% during the first quarter, acquiring an additional 22,310 shares, bringing their total holdings to approximately 106,830 shares worth about $1.95 million.
• Other institutional investors also increased their stakes, with Public Sector Pension Investment Board raising its stake by 48.7%, and Deutsche Bank AG increasing its holdings by a remarkable 383.6%.
• TEGNA recently reported $0.44 earnings per share for the last quarter, exceeding analysts' expectations, but noted a 5% decline in revenue compared to the previous year.

Algert Global LLC grew its position in TEGNA Inc. (NYSE:TGNA - Free Report) by 26.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,830 shares of the company's stock after purchasing an additional 22,310 shares during the period. Algert Global LLC owned about 0.07% of TEGNA worth $1,946,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in shares of TEGNA by 15.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,058 shares of the company's stock valued at $92,000 after buying an additional 694 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in TEGNA by 80.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock valued at $31,000 after acquiring an additional 749 shares during the period. Blue Trust Inc. increased its holdings in shares of TEGNA by 26.0% in the first quarter. Blue Trust Inc. now owns 4,227 shares of the company's stock worth $77,000 after acquiring an additional 873 shares in the last quarter. GAMMA Investing LLC raised its position in shares of TEGNA by 53.3% during the first quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock worth $57,000 after purchasing an additional 1,088 shares during the period. Finally, Integrated Advisors Network LLC raised its position in shares of TEGNA by 7.9% during the fourth quarter. Integrated Advisors Network LLC now owns 16,040 shares of the company's stock worth $293,000 after purchasing an additional 1,171 shares during the period. 92.19% of the stock is owned by institutional investors.

TEGNA Stock Up 0.0%

Shares of TGNA traded up $0.0050 during mid-day trading on Friday, hitting $21.0650. 3,646,574 shares of the company's stock were exchanged, compared to its average volume of 5,140,705. 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 52 week low of $13.44 and a 52 week high of $21.19. The company has a market cap of $3.39 billion, a PE ratio of 7.12 and a beta of 0.28. The company has a 50-day simple moving average of $17.54 and a 200 day simple moving average of $17.29.

TEGNA (NYSE:TGNA - Get Free Report) last announced its 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 business had revenue of $675.05 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.50 earnings per share. TEGNA has set its Q3 2025 guidance at EPS. On average, research analysts forecast that TEGNA Inc. will post 3.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on TGNA. Wells Fargo & Company reissued an "overweight" rating and set a $22.00 target price (up from $21.00) on shares of TEGNA in a research note on Sunday, August 10th. JPMorgan Chase & Co. reduced their price target on shares of TEGNA from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Wednesday, May 21st. Benchmark dropped their price objective 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 reaffirmed a "neutral" rating and issued a $19.00 price objective on shares of TEGNA in a research report on Friday. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.