Clark Estates Inc. NY Trims Position in TEGNA Inc. (NYSE:TGNA)

Clark Estates Inc. NY lowered its holdings in TEGNA Inc. (NYSE:TGNA - Free Report) by 27.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,410 shares of the company's stock after selling 44,449 shares during the period. Clark Estates Inc. NY owned about 0.07% of TEGNA worth $2,121,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. XTX Topco Ltd raised its position in shares of TEGNA by 192.8% in the first quarter. XTX Topco Ltd now owns 51,473 shares of the company's stock valued at $938,000 after purchasing an additional 33,896 shares during the period. Harvest Fund Management Co. Ltd increased its stake in TEGNA by 113.9% in the first quarter. Harvest Fund Management Co. Ltd now owns 52,038 shares of the company's stock valued at $949,000 after acquiring an additional 27,707 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of TEGNA during the 1st quarter worth $1,680,000. Bryce Point Capital LLC boosted its stake in shares of TEGNA by 56.6% in the 1st quarter. Bryce Point Capital LLC now owns 38,831 shares of the company's stock valued at $704,000 after purchasing an additional 14,034 shares in the last quarter. Finally, Inspire Advisors LLC acquired a new position in shares of TEGNA during the first quarter worth $335,000. 92.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TGNA has been the topic of several research reports. Wells Fargo & Company reduced their price target on TEGNA from $23.00 to $21.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Benchmark reduced their target price 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. Guggenheim dropped their price target on shares of TEGNA from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. cut their price target on shares of TEGNA from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, TEGNA has an average rating of "Moderate Buy" and an average target price of $20.00.

TEGNA Trading Down 0.8%

Shares of NYSE TGNA traded down $0.14 during midday trading on Wednesday, reaching $16.73. The stock had a trading volume of 1,722,038 shares, compared to its average volume of 1,191,109. TEGNA Inc. has a twelve month low of $13.37 and a twelve month high of $19.62. The company's 50 day moving average price is $16.81 and its 200 day moving average price is $17.23. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 5.89 and a beta of 0.30. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.40 and a current ratio of 1.40.

TEGNA (NYSE:TGNA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.03. The business had revenue of $680.05 million for the quarter, compared to the consensus estimate of $677.24 million. TEGNA had a return on equity of 17.13% and a net margin of 15.29%. The firm's revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 EPS. As a group, sell-side analysts expect that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.50 dividend on an annualized basis and a yield of 2.99%. TEGNA's payout ratio is 17.61%.

TEGNA Company 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.