GABELLI & Co INVESTMENT ADVISERS INC. Decreases Stock Holdings in TEGNA Inc. $TGNA

Key Points

• GABELLI & Co INVESTMENT ADVISERS INC. reduced its stake in TEGNA Inc. by 16.6%, now holding 309,236 shares valued at approximately $5.63 million.
• TEGNA reported earnings of $0.44 per share for the last quarter, exceeding expectations, though its revenue decreased by 5% year-over-year.
• Institutional investors own 92.19% of TEGNA's stock, indicating strong institutional support, with differing target price assessments from analysts ranging from $18.00 to $22.00.

GABELLI & Co INVESTMENT ADVISERS INC. decreased its position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 16.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 309,236 shares of the company's stock after selling 61,600 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. owned 0.19% of TEGNA worth $5,634,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Neo Ivy Capital Management purchased a new position in shares of TEGNA during the fourth quarter worth approximately $28,000. Tower Research Capital LLC TRC boosted 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 during the period. GAMMA Investing LLC boosted its stake 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 purchasing an additional 1,088 shares during the period. Blue Trust Inc. grew its position 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 purchasing an additional 873 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased 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 purchasing an additional 694 shares during the period. 92.19% of the stock is owned by institutional investors and hedge funds.

TEGNA Stock Performance

NYSE TGNA traded up $0.03 during trading hours on Friday, hitting $21.19. 1,909,739 shares of the stock were exchanged, compared to its average volume of 5,473,517. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.82. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 7.62 and a beta of 0.28. TEGNA Inc. has a 12-month low of $13.44 and a 12-month high of $21.35. The stock has a 50-day moving average of $18.00 and a 200 day moving average of $17.39.

TEGNA (NYSE:TGNA - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.06. The company had revenue of $675.05 million for 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 quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 EPS. TEGNA has set its Q3 2025 guidance at EPS. As a group, equities research analysts forecast that TEGNA Inc. will post 3.02 earnings per share for the current year.

TEGNA Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. 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 research note on Wednesday, May 21st. Wells Fargo & Company reaffirmed an "overweight" rating and set a $22.00 price objective (up from $21.00) on shares of TEGNA in a research note on Sunday, August 10th. Guggenheim reiterated a "neutral" rating and issued a $19.00 target price on shares of TEGNA in a research note on Friday, August 22nd. Finally, Benchmark dropped their target price on TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, TEGNA has a consensus rating of "Moderate Buy" and a consensus target price of $19.75.

TEGNA 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.