Dynamic Technology Lab Private Ltd Buys 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 lifted its stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 161.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,360 shares of the company's stock after buying 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.

Other hedge funds also recently modified their holdings of the company. Neo Ivy Capital Management bought a new stake in TEGNA during the 4th quarter worth $28,000. Tower Research Capital LLC TRC boosted 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 purchasing an additional 749 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of TEGNA by 53.3% during the first quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock worth $57,000 after purchasing an additional 1,088 shares during the last quarter. Amundi increased its stake in shares of 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 buying an additional 3,814 shares during the period. Finally, Blue Trust Inc. raised its holdings in TEGNA by 26.0% in the 1st quarter. Blue Trust Inc. now owns 4,227 shares of the company's stock valued at $77,000 after buying an additional 873 shares during the last quarter. Institutional investors and hedge funds own 92.19% of the company's stock.

Analysts Set New Price Targets

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

TEGNA Stock Up 0.2%

Shares of NYSE TGNA opened at $21.01 on Tuesday. The company has a market capitalization of $3.38 billion, a P/E ratio of 7.56 and a beta of 0.28. TEGNA Inc. has a 52-week low of $13.55 and a 52-week high of $21.35. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.47 and a current ratio of 1.47. The company's 50 day moving average price is $18.51 and its 200-day moving average price is $17.52.

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

TEGNA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, September 5th. TEGNA's payout ratio is currently 17.99%.

About TEGNA

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.

Want to see what other hedge funds are holding TGNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TEGNA Inc. (NYSE:TGNA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.