Exchange Traded Concepts LLC purchased a new stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 59,043 shares of the company's stock, valued at approximately $1,076,000.
Other large investors also recently bought and sold shares of the company. Jones Financial Companies Lllp purchased a new position in TEGNA during the 4th quarter valued at about $27,000. Neo Ivy Capital Management purchased a new position in TEGNA during the 4th quarter valued at about $28,000. Tower Research Capital LLC TRC lifted its position in TEGNA by 80.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock valued at $31,000 after acquiring an additional 749 shares during the period. Smartleaf Asset Management LLC raised its holdings in TEGNA by 95.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company's stock worth $31,000 after buying an additional 832 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in TEGNA in the fourth quarter worth about $32,000. 92.19% of the stock is owned by hedge funds and other institutional investors.
TEGNA Stock Performance
Shares of TGNA stock opened at $16.47 on Thursday. The company has a 50 day moving average price of $16.54 and a 200-day moving average price of $17.54. TEGNA Inc. has a 52 week low of $12.76 and a 52 week high of $19.62. The firm has a market capitalization of $2.65 billion, a PE ratio of 5.80 and a beta of 0.30. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.83.
TEGNA (NYSE:TGNA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.03. TEGNA had a net margin of 15.29% and a return on equity of 17.13%. The firm had revenue of $680.05 million during the quarter, compared to analyst estimates of $677.24 million. During the same period in the previous year, the business posted $0.45 earnings per share. The business's revenue for the quarter was down 4.8% on a year-over-year basis. As a group, equities research analysts expect that TEGNA Inc. will post 3.02 earnings per share for the current year.
TEGNA Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.04%. TEGNA's dividend payout ratio is presently 17.61%.
Wall Street Analyst Weigh In
Several brokerages have issued reports on TGNA. Wells Fargo & Company decreased their target price on shares of TEGNA from $23.00 to $21.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Wall Street Zen cut shares of TEGNA from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Guggenheim lifted their target price on shares of TEGNA from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. decreased their target price on shares of TEGNA from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Wednesday, May 21st. Finally, Benchmark decreased their target price on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, TEGNA currently has an average rating of "Moderate Buy" and an average price target of $20.25.
Read Our Latest Analysis on TGNA
About TEGNA
(
Free Report)
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.
Featured Stories
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.
Before you consider TEGNA, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TEGNA wasn't on the list.
While TEGNA currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
