TEGNA Inc. $TGNA Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC has reduced its stake in TEGNA Inc. by 5.5%, selling 60,000 shares and now owns 1,036,075 shares valued at approximately $18.88 million.
• Analysts have mixed ratings for TEGNA, with a target price ranging from $18.00 to $22.00, and a consensus rating of "Moderate Buy."
• TEGNA has announced a quarterly dividend of $0.125 per share, resulting in an annualized dividend yield of 2.4% for shareholders of record as of September 5th.

Gabelli Funds LLC lowered its holdings in TEGNA Inc. (NYSE:TGNA - Free Report) by 5.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,036,075 shares of the company's stock after selling 60,000 shares during the period. Gabelli Funds LLC owned about 0.64% of TEGNA worth $18,877,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Aristides Capital LLC purchased a new position in TEGNA in the first quarter valued at about $303,000. FORA Capital LLC purchased a new position in TEGNA in the first quarter valued at about $228,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in TEGNA in the first quarter valued at about $1,057,000. Jane Street Group LLC boosted its holdings in TEGNA by 193.0% in the first quarter. Jane Street Group LLC now owns 573,255 shares of the company's stock valued at $10,445,000 after purchasing an additional 377,578 shares during the last quarter. Finally, AlphaQuest LLC purchased a new position in TEGNA in the first quarter valued at about $383,000. Hedge funds and other institutional investors own 92.19% of the company's stock.

TEGNA Stock Performance

NYSE:TGNA traded up $0.03 during midday trading on Monday, reaching $21.19. 1,909,739 shares of the company traded hands, compared to its average volume of 5,491,069. TEGNA Inc. has a twelve month low of $13.44 and a twelve month high of $21.35. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 7.62 and a beta of 0.28. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.47 and a quick ratio of 1.47. The company has a fifty day moving average price of $18.00 and a 200 day moving average price of $17.39.

TEGNA (NYSE:TGNA - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.06. TEGNA had a return on equity of 16.20% and a net margin of 14.99%.The company had revenue of $675.05 million during the quarter, compared to analyst estimates of $673.92 million. During the same quarter in the previous year, the firm posted $0.50 EPS. The firm's quarterly revenue was down 5.0% on a year-over-year basis. TEGNA has set its Q3 2025 guidance at EPS. On average, analysts expect that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have commented on TGNA. Wells Fargo & Company reaffirmed an "overweight" rating and set a $22.00 target price (up previously from $21.00) on shares of TEGNA in a report on Sunday, August 10th. Benchmark reduced their target price on TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. JPMorgan Chase & Co. reduced their target price on TEGNA from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. Finally, Guggenheim reaffirmed a "neutral" rating and set a $19.00 target price on shares of TEGNA in a report on Friday, August 22nd. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, TEGNA has a consensus rating of "Moderate Buy" and an average price target of $19.75.

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.