GABELLI & Co INVESTMENT ADVISERS INC. trimmed its position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 16.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 309,236 shares of the company's stock after selling 61,600 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC. owned approximately 0.19% of TEGNA worth $5,634,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Neo Ivy Capital Management acquired a new stake in shares of TEGNA during the fourth quarter valued at about $28,000. Tower Research Capital LLC TRC lifted its stake in shares of TEGNA by 80.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock worth $31,000 after acquiring an additional 749 shares during the period. GAMMA Investing LLC lifted its stake in shares of TEGNA by 53.3% in the first quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock worth $57,000 after acquiring an additional 1,088 shares during the period. Blue Trust Inc. lifted its stake in shares of TEGNA by 26.0% in the first quarter. Blue Trust Inc. now owns 4,227 shares of the company's stock worth $77,000 after acquiring an additional 873 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in TEGNA by 15.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,058 shares of the company's stock worth $92,000 after purchasing an additional 694 shares in the last quarter. 92.19% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on TGNA shares. Guggenheim restated a "neutral" rating and set a $19.00 price objective on shares of TEGNA in a report on Friday, August 22nd. Wells Fargo & Company reissued an "overweight" rating and issued a $22.00 price objective (up previously from $21.00) on shares of TEGNA in a research report on Sunday, August 10th. JPMorgan Chase & Co. cut their price objective 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, Benchmark dropped their price target on TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $19.75.
Get Our Latest Report on TGNA
TEGNA Stock Up 0.1%
Shares of TGNA traded up $0.03 on Friday, reaching $21.19. The stock had a trading volume of 1,909,739 shares, compared to its average volume of 5,473,517. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 7.15 and a beta of 0.28. 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 has a 50-day simple moving average of $18.00 and a 200-day simple moving average of $17.40. TEGNA Inc. has a 12-month low of $13.44 and a 12-month high of $21.35.
TEGNA (NYSE:TGNA - Get Free Report) last released 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. The company had revenue of $675.05 million during the quarter, compared to analysts' expectations of $673.92 million. TEGNA had a return on equity of 16.20% and a net margin of 14.99%.The firm's revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 EPS. TEGNA has set its Q3 2025 guidance at EPS. Sell-side analysts predict that TEGNA Inc. will post 3.02 EPS for the current year.
TEGNA Announces Dividend
The company also recently announced 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 is Friday, September 5th. TEGNA's dividend payout ratio (DPR) is presently 17.99%.
TEGNA Profile
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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.
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