Cinctive Capital Management LP Buys Shares of 53,343 TEGNA Inc. $TGNA

Key Points

• Cinctive Capital Management LP acquired a new position in TEGNA Inc. during the 1st quarter, purchasing 53,343 shares valued at approximately $972,000.
• Analysts have set a consensus rating of "Moderate Buy" for TEGNA, with an average price target of $19.75, while JPMorgan Chase lowered their target from $19.00 to $18.00.
• TEGNA recently declared a quarterly dividend of $0.125, with a yield of 2.4%, and has projected an EPS of 3.02 for the current fiscal year.

Cinctive Capital Management LP acquired a new position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 53,343 shares of the company's stock, valued at approximately $972,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of TGNA. Neo Ivy Capital Management acquired a new position in TEGNA in the fourth quarter valued at approximately $28,000. Tower Research Capital LLC TRC increased its holdings in shares of TEGNA by 80.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock worth $31,000 after acquiring an additional 749 shares during the period. GAMMA Investing LLC lifted its position in TEGNA by 53.3% in the 1st quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock valued at $57,000 after purchasing an additional 1,088 shares during the last quarter. Amundi lifted its position in TEGNA by 1,507.5% in the 1st quarter. Amundi now owns 4,067 shares of the company's stock valued at $74,000 after purchasing an additional 3,814 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake 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 purchasing an additional 873 shares during the period. Institutional investors and hedge funds own 92.19% of the company's stock.

TEGNA Price Performance

NYSE:TGNA traded down $0.04 during trading hours on Tuesday, reaching $20.97. The company had a trading volume of 2,125,414 shares, compared to its average volume of 2,026,137. The firm has a market capitalization of $3.37 billion, a PE ratio of 7.54 and a beta of 0.28. TEGNA Inc. has a one year low of $13.60 and a one year high of $21.35. The stock has a 50-day moving average of $18.51 and a two-hundred day moving average of $17.52. 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 released its quarterly 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. The firm had revenue of $675.05 million during the quarter, compared to analysts' expectations of $673.92 million. TEGNA had a return on equity of 16.20% and a net margin of 14.99%.The business's revenue was down 5.0% on a year-over-year basis. During the same period last year, the firm posted $0.50 EPS. TEGNA has set its Q3 2025 guidance at EPS. Analysts forecast that TEGNA Inc. will post 3.02 earnings per share for the current year.

TEGNA Dividend Announcement

The business 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 $0.125 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.4%. TEGNA's dividend payout ratio (DPR) is currently 17.99%.

Analyst Ratings Changes

Several brokerages recently commented on TGNA. Wells Fargo & Company reissued an "overweight" rating and set a $22.00 target price (up previously from $21.00) on shares of TEGNA in a report on Sunday, August 10th. Guggenheim reaffirmed a "neutral" rating and set a $19.00 price objective on shares of TEGNA in a research note 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 analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.75.

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.