Hussman Strategic Advisors Inc. bought a new stake in TEGNA Inc. (NYSE:TGNA - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 84,000 shares of the company's stock, valued at approximately $1,530,000. Hussman Strategic Advisors Inc. owned 0.05% of TEGNA at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new stake in shares of TEGNA in the fourth quarter valued at $27,000. Neo Ivy Capital Management bought a new stake in shares of TEGNA in the fourth quarter valued at $28,000. Tower Research Capital LLC TRC raised its stake in shares of TEGNA by 80.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock valued at $31,000 after buying an additional 749 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of TEGNA in the fourth quarter valued at $32,000. Finally, GAMMA Investing LLC grew its stake in TEGNA by 53.3% in the 1st quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock valued at $57,000 after buying an additional 1,088 shares in the last quarter. 92.19% of the stock is currently owned by institutional investors.
TEGNA Price Performance
TEGNA stock traded down $0.13 during midday trading on Monday, hitting $16.60. 181,494 shares of the company's stock were exchanged, compared to its average volume of 1,812,394. TEGNA Inc. has a 52-week low of $13.37 and a 52-week high of $19.62. The stock has a 50-day moving average price of $16.87 and a two-hundred day moving average price of $17.29. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market cap of $2.67 billion, a P/E ratio of 5.84 and a beta of 0.30.
TEGNA (NYSE:TGNA - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.34 by $0.03. TEGNA had a return on equity of 17.13% and a net margin of 15.29%. The business had revenue of $680.05 million during the quarter, compared to analysts' expectations of $677.24 million. During the same period in the previous year, the business earned $0.45 earnings per share. The firm's revenue was down 4.8% on a year-over-year basis. On average, 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 announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 3.01%. The ex-dividend date was Friday, June 6th. TEGNA's payout ratio is 17.61%.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the stock. Benchmark reduced their price objective on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. JPMorgan Chase & Co. reduced their price target 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 reduced their price target on TEGNA from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, July 2nd. Finally, Wells Fargo & Company reduced their price target on TEGNA from $23.00 to $21.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, TEGNA currently has a consensus rating of "Moderate Buy" and an average target price of $20.00.
Check Out Our Latest Research Report on TEGNA
TEGNA 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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