Hudson Bay Capital Management LP Acquires Shares of 351,227 TEGNA Inc. $TGNA

Key Points

• Hudson Bay Capital Management acquired 351,227 shares of TEGNA (NYSE:TGNA) in Q3, a new position valued at about $7.14 million and representing roughly 0.22% of the company.
• The proposed Nexstar–TEGNA deal has been reported as closed after FCC and DOJ approvals, but multiple lawsuits from eight states and DirecTV pose material legal risk that could delay or unwind the transaction.
• TEGNA declared a quarterly dividend of $0.125 per share (annualized $0.50, ~2.3% yield), with an ex-dividend date of March 10 and payment scheduled for April 1.

Hudson Bay Capital Management LP acquired a new position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 351,227 shares of the company's stock, valued at approximately $7,140,000. Hudson Bay Capital Management LP owned about 0.22% of TEGNA as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Consulate Inc. acquired a new stake in shares of TEGNA in the 3rd quarter valued at about $29,000. Federated Hermes Inc. grew its stake in TEGNA by 85.4% during the 3rd quarter. Federated Hermes Inc. now owns 1,852 shares of the company's stock worth $38,000 after buying an additional 853 shares during the last quarter. Smartleaf Asset Management LLC increased its position in TEGNA by 160.4% during the third quarter. Smartleaf Asset Management LLC now owns 2,377 shares of the company's stock worth $48,000 after buying an additional 1,464 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in TEGNA during the third quarter worth approximately $51,000. Finally, PenderFund Capital Management Ltd. purchased a new stake in TEGNA in the third quarter valued at approximately $59,000. Institutional investors and hedge funds own 92.19% of the company's stock.

TEGNA Stock Performance

NYSE TGNA opened at $21.90 on Friday. The firm has a market cap of $3.55 billion, a P/E ratio of 16.22 and a beta of 0.12. TEGNA Inc. has a 52-week low of $14.87 and a 52-week high of $21.90. The business's 50-day moving average price is $20.05 and its 200 day moving average price is $20.00. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.80.

TEGNA (NYSE:TGNA - Get Free Report) last posted its quarterly earnings data on Monday, March 2nd. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.45 by $0.05. TEGNA had a return on equity of 8.60% and a net margin of 8.11%.The firm had revenue of $706.11 million during the quarter, compared to the consensus estimate of $701.29 million. During the same period in the prior year, the business earned $1.21 EPS. The firm's revenue was down 18.9% compared to the same quarter last year. On average, equities research analysts expect that TEGNA Inc. will post 3.02 earnings per share for the current year.

TEGNA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 10th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, March 10th. TEGNA's dividend payout ratio is 37.04%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TGNA shares. Zacks Research raised TEGNA from a "strong sell" rating to a "hold" rating in a report on Monday, January 12th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of TEGNA in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $19.75.

TEGNA News Roundup

Here are the key news stories impacting TEGNA this week:

• Positive Sentiment: Federal approvals and closing reduce near-term regulatory uncertainty and explain upward pressure on TGNA. Nexstar and Tegna said the merger has closed after FCC and DOJ sign-offs. Nexstar, Tegna merger closes after winning regulatory approval
• Positive Sentiment: Trading was briefly halted with the reason “Merger Effective,” confirming the transaction moved to closing and likely fueled after-hours and session gains. Nexstar Says Tegna Merger Has Closed With Federal Approval
• Neutral Sentiment: The FCC’s approval included a waiver of an ownership cap and specific station divestiture/transfer conditions — procedural items that enabled closing but may require post-close operational adjustments. FCC Gives Greenlight To Nexstar-Tegna Merger Amid Challenge From California And Other States
• Negative Sentiment: Eight state attorneys general have filed suit and asked a federal judge for a temporary restraining order to block the deal, arguing it creates excessive local-market concentration — a legal risk that could unwind the transaction or force further remedies. Eight States Seek Restraining Order to Stop $6.2 Billion Nexstar-Tegna Combination Eight states ask US judge to temporarily block Nexstar, Tegna merger
• Negative Sentiment: Additional litigation includes a multi-state lawsuit filed earlier and a separate antitrust suit by DirecTV — multiple parallel legal actions increase the chance of a court-ordered remedy or delay, creating significant downside risk for TGNA shareholders despite the close. Eight states sue to block Nexstar's plan to acquire rival Tegna DirecTV files suit to block Nexstar-Tegna deal

TEGNA Company Profile

TEGNA Inc is a leading U.S. broadcast and digital media company that was formed as a spin-off from Gannett Co, Inc in June 2015. The company's primary operations include the ownership and operation of local television stations, digital publishing platforms and marketing solutions designed to serve both national advertisers and local businesses. Through its portfolio of media assets, TEGNA delivers news, information and entertainment across multiple platforms, including over-the-air broadcasts, cable and satellite distribution, streaming services and proprietary websites and mobile apps.

TEGNA owns and operates approximately 60 television stations in 51 markets, reaching nearly 40 percent of U.S.

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