Vision One Management Partners LP Cuts Stake in TEGNA Inc. $TGNA

Key Points

• Vision One Management Partners LP has sold 228,508 shares of TEGNA Inc., reducing its stake by 27.6% to 599,323 shares, representing 6.3% of its portfolio.
• Multiple institutional investors have altered their positions in TEGNA, with PNC Financial Services Group increasing its stake by 15.9% and Tower Research Capital LLC raising theirs by 80.2%.
• TEGNA's stock performance shows a current average target price of $19.75, with earnings per share reported at $0.44 for the last quarter, surpassing estimates.

Vision One Management Partners LP trimmed its holdings in TEGNA Inc. (NYSE:TGNA - Free Report) by 27.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 599,323 shares of the company's stock after selling 228,508 shares during the period. TEGNA comprises about 6.3% of Vision One Management Partners LP's investment portfolio, making the stock its 7th biggest position. Vision One Management Partners LP owned about 0.37% of TEGNA worth $10,920,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Neo Ivy Capital Management purchased a new stake in shares of TEGNA in the fourth quarter worth about $28,000. Tower Research Capital LLC TRC lifted its position 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 worth $31,000 after buying an additional 749 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of TEGNA by 53.3% in the first quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock worth $57,000 after buying an additional 1,088 shares in the last quarter. Blue Trust Inc. lifted its position in shares of TEGNA by 26.0% in the first quarter. Blue Trust Inc. now owns 4,227 shares of the company's stock worth $77,000 after buying an additional 873 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of TEGNA by 15.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,058 shares of the company's stock worth $92,000 after buying an additional 694 shares in the last quarter. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TGNA has been the topic of a number of research analyst reports. Guggenheim reiterated a "neutral" rating and issued a $19.00 target price on shares of TEGNA in a research report on Friday, August 22nd. JPMorgan Chase & Co. decreased their target price on TEGNA from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $22.00 target price (up from $21.00) on shares of TEGNA in a research report on Sunday, August 10th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, TEGNA currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.75.

TEGNA Trading Down 0.8%

NYSE TGNA traded down $0.17 during trading hours on Friday, hitting $21.00. 4,513,838 shares of the company were exchanged, compared to its average volume of 5,427,886. The stock has a 50-day moving average price of $18.43 and a 200 day moving average price of $17.50. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.82. TEGNA Inc. has a 52 week low of $13.44 and a 52 week high of $21.35. The stock has a market cap of $3.38 billion, a PE ratio of 7.55 and a beta of 0.28.

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

TEGNA Announces Dividend

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