SG Americas Securities LLC boosted its holdings in TEGNA Inc. (NYSE:TGNA - Free Report) by 401.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 149,590 shares of the company's stock after acquiring an additional 119,749 shares during the period. SG Americas Securities LLC owned 0.09% of TEGNA worth $2,726,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp acquired a new position in TEGNA in the fourth quarter valued at $27,000. Neo Ivy Capital Management acquired a new stake in shares of TEGNA during the 4th quarter worth $28,000. Tower Research Capital LLC TRC raised its position in shares of TEGNA by 80.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock worth $31,000 after buying an additional 749 shares during the period. Smartleaf Asset Management LLC boosted its holdings in TEGNA by 95.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company's stock valued at $31,000 after acquiring an additional 832 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in TEGNA in the fourth quarter valued at $32,000. 92.19% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on TGNA shares. JPMorgan Chase & Co. reduced their price objective on TEGNA from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 21st. Wall Street Zen cut shares of TEGNA from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Wells Fargo & Company decreased their price target on shares of TEGNA from $23.00 to $21.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Benchmark cut their price objective on TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, Guggenheim raised their target price on TEGNA from $20.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $20.25.
Check Out Our Latest Stock Report on TEGNA
TEGNA Stock Up 1.5%
TGNA stock traded up $0.24 during trading on Wednesday, reaching $16.58. The stock had a trading volume of 635,487 shares, compared to its average volume of 1,924,867. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.83. The firm has a fifty day moving average price of $16.54 and a 200 day moving average price of $17.55. The company has a market capitalization of $2.67 billion, a P/E ratio of 5.83 and a beta of 0.30. TEGNA Inc. has a 1-year low of $12.66 and a 1-year high of $19.62.
TEGNA (NYSE:TGNA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.03. The business had revenue of $680.05 million for the quarter, compared to analyst estimates of $677.24 million. TEGNA had a return on equity of 17.13% and a net margin of 15.29%. The company's revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 earnings per share. On average, equities analysts anticipate that TEGNA Inc. will post 3.02 earnings per share for the current year.
TEGNA Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Friday, June 6th. TEGNA's payout ratio is currently 17.61%.
About TEGNA
(
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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