Hotchkis & Wiley Capital Management LLC Sells 42,460 Shares of TEGNA Inc. $TGNA

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in TEGNA Inc. by 6.9%, now holding approximately 573,280 shares worth $10,445,000 after selling 42,460 shares.
• TEGNA has faced changes in analyst ratings, with Wells Fargo & Company upgrading its price target from $21.00 to $22.00, while other firms adjusted targets lower.
• The company reported an earnings per share (EPS) of $0.44 for its most recent quarter, exceeding analyst expectations but showing a decline from last year's EPS of $0.50.

Hotchkis & Wiley Capital Management LLC lowered its holdings in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 6.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 573,280 shares of the company's stock after selling 42,460 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 0.36% of TEGNA worth $10,445,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Neo Ivy Capital Management purchased a new stake in shares of TEGNA during the fourth quarter worth about $28,000. Tower Research Capital LLC TRC grew its position in shares of TEGNA by 80.2% during the fourth 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 grew its position in shares of TEGNA by 53.3% during the first quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock worth $57,000 after purchasing an additional 1,088 shares in the last quarter. Blue Trust Inc. grew its position in shares of TEGNA by 26.0% during the first quarter. Blue Trust Inc. now owns 4,227 shares of the company's stock worth $77,000 after purchasing an additional 873 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of TEGNA by 15.9% during 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. Hedge funds and other institutional investors own 92.19% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TGNA shares. Wells Fargo & Company reiterated an "overweight" rating and set a $22.00 target price (up previously from $21.00) on shares of TEGNA in a research report on Sunday, August 10th. JPMorgan Chase & Co. cut their target price on TEGNA from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Wednesday, May 21st. Guggenheim reiterated a "neutral" rating and set a $19.00 target price on shares of TEGNA in a research report on Friday, August 22nd. Finally, Benchmark cut 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 Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $19.75.

TEGNA Price Performance

NYSE TGNA traded up $0.03 during trading on Friday, hitting $21.19. 1,909,739 shares of the stock traded hands, compared to its average volume of 5,473,517. The company has a market capitalization of $3.41 billion, a P/E ratio of 7.62 and a beta of 0.28. The firm has a 50-day simple moving average of $18.00 and a 200-day simple moving average of $17.39. 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 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 quarterly earnings results on Thursday, August 7th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.06. The business 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. As a group, analysts predict that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Announces Dividend

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

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.