TEGNA Inc. $TGNA Shares Sold by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. ET AL has reduced its stake in TEGNA Inc. by 2.1%, now holding about 1.45% of the company, valued at $42.60 million after selling 50,732 shares in the first quarter.
• TEGNA's stock reported a one-year performance range of $13.44 to $21.35, with a current market cap of $3.43 billion and a PE ratio of 7.66.
• TEGNA's last earnings report showed $0.44 earnings per share, exceeding analyst expectations, although revenue showed a 5% year-over-year decrease.

Gamco Investors INC. ET AL lowered its stake in TEGNA Inc. (NYSE:TGNA - Free Report) by 2.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,338,189 shares of the company's stock after selling 50,732 shares during the period. Gamco Investors INC. ET AL owned 1.45% of TEGNA worth $42,602,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TGNA. Nuveen LLC acquired a new stake in TEGNA during the first quarter valued at $15,492,000. Deutsche Bank AG boosted its position in TEGNA by 383.6% during the first quarter. Deutsche Bank AG now owns 756,941 shares of the company's stock worth $13,791,000 after acquiring an additional 600,407 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in TEGNA during the fourth quarter worth about $7,955,000. Jane Street Group LLC boosted its position in TEGNA by 193.0% during the first quarter. Jane Street Group LLC now owns 573,255 shares of the company's stock worth $10,445,000 after acquiring an additional 377,578 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in TEGNA in the fourth quarter valued at approximately $5,434,000. Hedge funds and other institutional investors own 92.19% of the company's stock.

TEGNA Stock Up 0.1%

TGNA traded up $0.03 during trading hours on Friday, hitting $21.19. 1,909,739 shares of the company's stock were exchanged, compared to its average volume of 5,473,517. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.82. TEGNA Inc. has a 12-month low of $13.44 and a 12-month high of $21.35. The firm has a market cap of $3.41 billion, a P/E ratio of 7.62 and a beta of 0.28. The firm 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 posted its quarterly earnings results on Thursday, August 7th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.38 by $0.06. TEGNA had a net margin of 14.99% and a return on equity of 16.20%. The company had revenue of $675.05 million during the quarter, compared to analysts' expectations of $673.92 million. During the same quarter in the previous year, the business posted $0.50 EPS. The firm's revenue was down 5.0% on a year-over-year basis. TEGNA has set its Q3 2025 guidance at EPS. Analysts predict that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have issued reports on TGNA shares. Guggenheim reissued a "neutral" rating and set a $19.00 target price on shares of TEGNA in a research note on Friday, August 22nd. JPMorgan Chase & Co. cut their price objective on TEGNA from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Wednesday, May 21st. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $22.00 target price (up previously from $21.00) on shares of TEGNA in a research report on Sunday, August 10th. Finally, Benchmark dropped their price target on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Two analysts have rated the stock with a Buy rating and two have given 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.