TEGNA Inc. $TGNA Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP reduced its stake in TEGNA Inc. (NYSE:TGNA) by 0.6%, selling 60,879 shares, and now owns approximately 6.39% of the company worth $187 million.
• TEGNA's latest quarterly earnings revealed earnings per share of $0.44, exceeding expectations, despite a 5% decline in revenue year-over-year.
• Investment analysts have mixed ratings on TEGNA, with price targets ranging between $18.00 and $22.00, resulting in an overall rating of "Moderate Buy."

Dimensional Fund Advisors LP lessened its position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 0.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,268,033 shares of the company's stock after selling 60,879 shares during the quarter. Dimensional Fund Advisors LP owned 6.39% of TEGNA worth $187,080,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TGNA. LSV Asset Management boosted its stake in shares of TEGNA by 0.4% in the first quarter. LSV Asset Management now owns 7,828,750 shares of the company's stock worth $142,640,000 after buying an additional 32,121 shares during the last quarter. Northern Trust Corp boosted its stake in shares of TEGNA by 8.3% in the fourth quarter. Northern Trust Corp now owns 2,865,335 shares of the company's stock worth $52,407,000 after buying an additional 219,706 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of TEGNA by 7.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,233,329 shares of the company's stock worth $22,558,000 after buying an additional 85,113 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of TEGNA by 2.5% in the first quarter. Principal Financial Group Inc. now owns 934,711 shares of the company's stock worth $17,030,000 after buying an additional 23,094 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of TEGNA by 1.1% in the first quarter. Victory Capital Management Inc. now owns 918,416 shares of the company's stock worth $16,734,000 after buying an additional 10,249 shares during the last quarter. Hedge funds and other institutional investors own 92.19% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TGNA. Benchmark lowered their target price on TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Wells Fargo & Company reiterated an "overweight" rating and set a $22.00 price target (up previously from $21.00) on shares of TEGNA in a research report on Sunday, August 10th. JPMorgan Chase & Co. lowered their price target on TEGNA from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 21st. Finally, Guggenheim reiterated a "neutral" rating and set a $19.00 price target on shares of TEGNA in a research report on Friday. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $19.75.

TEGNA Price Performance

TGNA stock traded up $0.0050 during mid-day trading on Friday, reaching $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 market cap of $3.39 billion, a price-to-earnings ratio of 7.58 and a beta of 0.28. The stock's 50 day moving average is $17.54 and its 200 day moving average is $17.29. 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 12-month low of $13.44 and a 12-month high of $21.19.

TEGNA (NYSE:TGNA - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.06. TEGNA had a return on equity of 16.20% and a net margin of 14.99%.The business had revenue of $675.05 million during the quarter, compared to analysts' expectations of $673.92 million. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The business's revenue was down 5.0% compared to the same quarter last year. TEGNA has set its Q3 2025 guidance at EPS. On average, research analysts expect that TEGNA Inc. will post 3.02 EPS for the current year.

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.