GAMMA Investing LLC raised its position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 2,693.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 56,992 shares of the company's stock after buying an additional 54,952 shares during the quarter. GAMMA Investing LLC's holdings in TEGNA were worth $1,038,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of TEGNA by 2.3% in the 4th quarter. Principal Financial Group Inc. now owns 911,617 shares of the company's stock worth $16,673,000 after purchasing an additional 20,129 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in TEGNA by 16.5% in the fourth quarter. Sanctuary Advisors LLC now owns 20,965 shares of the company's stock worth $385,000 after acquiring an additional 2,971 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new stake in TEGNA in the fourth quarter worth about $232,000. Kestra Investment Management LLC grew its stake in shares of TEGNA by 37.0% during the fourth quarter. Kestra Investment Management LLC now owns 61,795 shares of the company's stock worth $1,130,000 after acquiring an additional 16,679 shares during the last quarter. Finally, Mcdonald Partners LLC increased its holdings in shares of TEGNA by 45.6% during the fourth quarter. Mcdonald Partners LLC now owns 44,050 shares of the company's stock valued at $806,000 after acquiring an additional 13,800 shares in the last quarter. 92.19% of the stock is owned by hedge funds and other institutional investors.
TEGNA Stock Up 1.0%
TGNA stock traded up $0.17 during mid-day trading on Friday, reaching $16.63. The company had a trading volume of 847,873 shares, compared to its average volume of 1,917,116. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.40 and a current ratio of 1.40. TEGNA Inc. has a fifty-two week low of $12.76 and a fifty-two week high of $19.62. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 5.86 and a beta of 0.30. The firm has a fifty day simple moving average of $16.55 and a 200 day simple moving average of $17.52.
TEGNA (NYSE:TGNA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.03. The business had revenue of $680.05 million during the quarter, compared to analysts' expectations of $677.24 million. TEGNA had a net margin of 15.29% and a return on equity of 17.13%. The business's revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 earnings per share. Analysts forecast that TEGNA Inc. will post 3.02 earnings per share for the current fiscal year.
TEGNA Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be given a dividend of $0.125 per share. The ex-dividend date is Friday, June 6th. This represents a $0.50 annualized dividend and a dividend yield of 3.01%. TEGNA's dividend payout ratio is currently 17.61%.
Analyst Ratings Changes
Several analysts have weighed in on TGNA shares. JPMorgan Chase & Co. dropped their target price on shares of TEGNA from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 21st. Wells Fargo & Company cut their price target on TEGNA from $23.00 to $21.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Wall Street Zen cut TEGNA from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Guggenheim raised their target price on TEGNA from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Finally, Benchmark decreased their price target on TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $20.25.
View Our Latest Stock Analysis on TEGNA
TEGNA Company Profile
(
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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