Dynamic Technology Lab Private Ltd Purchases 28,655 Shares of TEGNA Inc. $TGNA

Key Points

• Dynamic Technology Lab Private Ltd increased its holdings in TEGNA Inc. by 161.8%, acquiring an additional 28,655 shares, bringing its total to 46,360 shares valued at approximately $845,000.
• TEGNA reported a quarterly earnings per share of $0.44, surpassing estimates, but its revenue decreased by 5.0% year-over-year.
• The company declared a quarterly dividend of $0.125 per share, which will be paid to stockholders on October 1st, resulting in an annualized yield of 2.4%.

Dynamic Technology Lab Private Ltd raised its position in TEGNA Inc. (NYSE:TGNA - Free Report) by 161.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,360 shares of the company's stock after acquiring an additional 28,655 shares during the period. Dynamic Technology Lab Private Ltd's holdings in TEGNA were worth $845,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. New Vernon Capital Holdings II LLC acquired a new position in TEGNA in the 1st quarter valued at approximately $6,029,000. Millennium Management LLC raised its holdings in TEGNA by 51.5% in the 1st quarter. Millennium Management LLC now owns 2,548,981 shares of the company's stock valued at $46,442,000 after acquiring an additional 866,970 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in TEGNA by 1.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,968 shares of the company's stock valued at $1,749,000 after acquiring an additional 1,726 shares in the last quarter. Hancock Whitney Corp raised its holdings in TEGNA by 1.6% in the 1st quarter. Hancock Whitney Corp now owns 91,104 shares of the company's stock valued at $1,660,000 after acquiring an additional 1,416 shares in the last quarter. Finally, Cinctive Capital Management LP acquired a new position in TEGNA in the 1st quarter valued at approximately $972,000. Institutional investors and hedge funds own 92.19% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. JPMorgan Chase & Co. cut their price target on TEGNA from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Wednesday, May 21st. Guggenheim reiterated a "neutral" rating and issued a $19.00 price objective on shares of TEGNA in a research note on Friday, August 22nd. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $22.00 price objective (up from $21.00) on shares of TEGNA in a research note on Sunday, August 10th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, TEGNA has a consensus rating of "Moderate Buy" and an average target price of $19.75.

TEGNA Price Performance

Shares of TGNA stock traded up $0.04 during trading hours on Friday, hitting $21.05. The company had a trading volume of 4,084,608 shares, compared to its average volume of 4,612,165. TEGNA Inc. has a 12 month low of $14.03 and a 12 month high of $21.35. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 7.57 and a beta of 0.28. The firm's fifty day moving average is $18.82 and its 200 day moving average is $17.62. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.47 and a current ratio of 1.47.

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

TEGNA Announces Dividend

The firm 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 is Friday, September 5th. This represents a $0.50 dividend on an annualized basis and a yield of 2.4%. TEGNA's dividend payout ratio is 17.99%.

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.