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 position in TEGNA Inc. (NYSE:TGNA - Free Report) by 5.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,036,075 shares of the company's stock after selling 60,000 shares during the quarter. Gabelli Funds LLC owned 0.64% of TEGNA worth $18,877,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its holdings in TEGNA by 15.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,058 shares of the company's stock valued at $92,000 after acquiring an additional 694 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in 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 acquiring an additional 749 shares during the last quarter. Blue Trust Inc. boosted its holdings in TEGNA by 26.0% in the first quarter. Blue Trust Inc. now owns 4,227 shares of the company's stock valued at $77,000 after acquiring an additional 873 shares during the last quarter. GAMMA Investing LLC boosted its holdings in TEGNA by 53.3% in the first quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock valued at $57,000 after acquiring an additional 1,088 shares during the last quarter. Finally, Integrated Advisors Network LLC boosted its holdings in TEGNA by 7.9% in the fourth quarter. Integrated Advisors Network LLC now owns 16,040 shares of the company's stock valued at $293,000 after acquiring an additional 1,171 shares during the last quarter. Institutional investors and hedge funds own 92.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. 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 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. Wells Fargo & Company restated an "overweight" rating and set a $22.00 price objective (up previously from $21.00) on shares of TEGNA in a research note on Sunday, August 10th. Finally, Guggenheim restated a "neutral" rating and set a $19.00 price objective on shares of TEGNA in a research note on Friday, August 22nd. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $19.75.

TEGNA Trading Down 1.0%

Shares of TGNA opened at $21.07 on Wednesday. The stock's 50-day moving average is $17.72 and its two-hundred day moving average is $17.33. The stock has a market cap of $3.39 billion, a PE ratio of 7.58 and a beta of 0.28. TEGNA Inc. has a 12 month low of $13.44 and a 12 month high of $21.35. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.47 and a quick ratio of 1.47.

TEGNA (NYSE:TGNA - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.44 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 for the quarter, compared to analysts' expectations of $673.92 million. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The firm's quarterly revenue was down 5.0% on a year-over-year basis. TEGNA has set its Q3 2025 guidance at EPS. Equities analysts forecast that TEGNA Inc. will post 3.02 earnings per share for the current fiscal year.

TEGNA Announces Dividend

The firm 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. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.4%. TEGNA's payout ratio is 17.99%.

TEGNA 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.

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