35,682 Shares in TEGNA Inc. $TGNA Acquired by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. acquired a new stake in TEGNA Inc., purchasing 35,682 shares valued at approximately $650,000 during the first quarter.
• TEGNA's recent earnings report showed a net margin of 14.99%, with earnings per share of $0.44, surpassing analyst expectations.
• The firm announced a quarterly dividend of $0.125, resulting in an annualized yield of 2.4%.

Fox Run Management L.L.C. bought a new position in TEGNA Inc. (NYSE:TGNA - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 35,682 shares of the company's stock, valued at approximately $650,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Neo Ivy Capital Management acquired a new stake in shares of TEGNA during the fourth quarter worth about $28,000. Tower Research Capital LLC TRC increased its stake in TEGNA by 80.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock worth $31,000 after purchasing an additional 749 shares in the last quarter. GAMMA Investing LLC raised its holdings in TEGNA by 53.3% during the 1st quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock worth $57,000 after buying an additional 1,088 shares during the period. Blue Trust Inc. raised its holdings in TEGNA by 26.0% during the 1st quarter. Blue Trust Inc. now owns 4,227 shares of the company's stock worth $77,000 after buying an additional 873 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in TEGNA by 15.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,058 shares of the company's stock valued at $92,000 after buying an additional 694 shares in the last quarter. 92.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company reissued an "overweight" rating and set a $22.00 price objective (up previously from $21.00) on shares of TEGNA in a research report on Sunday, August 10th. Benchmark reduced their target price on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lowered their target price on TEGNA from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Wednesday, May 21st. Finally, Guggenheim cut their price target on TEGNA from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, July 2nd. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.25.

TEGNA Stock Down 0.2%

Shares of NYSE:TGNA traded down $0.0420 during midday trading on Wednesday, hitting $21.0080. The stock had a trading volume of 10,310,025 shares, compared to its average volume of 1,931,917. The company has a market cap of $3.38 billion, a P/E ratio of 7.56 and a beta of 0.28. TEGNA Inc. has a 12 month low of $13.44 and a 12 month high of $21.19. The business's 50-day simple moving average is $17.27 and its 200-day simple moving average is $17.23. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.82.

TEGNA (NYSE:TGNA - Get Free Report) last announced its quarterly 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. The firm 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%. The company's revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.50 earnings per share. TEGNA has set its Q3 2025 guidance at EPS. On average, sell-side analysts forecast that TEGNA Inc. will post 3.02 earnings per share for the current fiscal 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.