Bridgeway Capital Management LLC Buys 124,713 Shares of TEGNA Inc. $TGNA

Key Points

• Bridgeway Capital Management LLC increased its stake in TEGNA Inc. by 10.1%, owning 1,358,042 shares valued at approximately $24.74 million, representing 0.6% of their total holdings.
• TEGNA reported a quarterly EPS of $0.44, exceeding expectations, with a revenue of $675.05 million, though down 5.0% from the previous year.
• The company declared a quarterly dividend of $0.125 per share, resulting in an annualized dividend yield of 2.4% and a payout ratio of 17.99%.

Bridgeway Capital Management LLC raised its holdings in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 10.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,358,042 shares of the company's stock after buying an additional 124,713 shares during the period. TEGNA comprises approximately 0.6% of Bridgeway Capital Management LLC's portfolio, making the stock its 11th largest position. Bridgeway Capital Management LLC owned about 0.85% of TEGNA worth $24,744,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Neo Ivy Capital Management bought a new position in shares of TEGNA during the fourth quarter valued at about $28,000. Tower Research Capital LLC TRC raised 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 acquiring an additional 749 shares during the last quarter. GAMMA Investing LLC boosted its holdings in TEGNA by 53.3% in the first quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock valued at $57,000 after acquiring an additional 1,088 shares in the last quarter. Amundi boosted its holdings in TEGNA by 1,507.5% in the first quarter. Amundi now owns 4,067 shares of the company's stock valued at $74,000 after acquiring an additional 3,814 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in TEGNA by 26.0% in the first quarter. Blue Trust Inc. now owns 4,227 shares of the company's stock valued at $77,000 after acquiring an additional 873 shares in the last quarter. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TGNA shares. Wells Fargo & Company reissued an "overweight" rating and issued a $22.00 price target (up from $21.00) on shares of TEGNA in a research note on Sunday, August 10th. Guggenheim reissued a "neutral" rating and issued a $19.00 target price on shares of TEGNA in a research report on Friday, August 22nd. Finally, 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 research report on Wednesday, May 21st. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $19.75.

TEGNA Stock Down 0.8%

Shares of NYSE TGNA traded down $0.17 on Friday, reaching $21.00. 4,513,838 shares of the company's stock traded hands, compared to its average volume of 5,427,886. TEGNA Inc. has a 12 month low of $13.44 and a 12 month high of $21.35. The business's 50 day simple moving average is $18.43 and its two-hundred day simple moving average is $17.50. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 7.55 and a beta of 0.28. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.82.

TEGNA (NYSE:TGNA - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.06. TEGNA had a net margin of 14.99% and a return on equity of 16.20%. The business had revenue of $675.05 million during the quarter, compared to the consensus estimate of $673.92 million. During the same quarter last year, the firm earned $0.50 earnings per share. The business's revenue for the quarter was down 5.0% on a year-over-year basis. TEGNA has set its Q3 2025 guidance at EPS. As a group, equities research analysts forecast that TEGNA Inc. will post 3.02 EPS 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 given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.50 annualized dividend and a dividend yield of 2.4%. TEGNA's dividend payout ratio (DPR) is 17.99%.

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.