Vision One Management Partners LP decreased its stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 18.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 827,831 shares of the company's stock after selling 183,841 shares during the quarter. TEGNA makes up 8.1% of Vision One Management Partners LP's portfolio, making the stock its 7th largest position. Vision One Management Partners LP owned 0.51% of TEGNA worth $15,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently modified their holdings of TGNA. Jones Financial Companies Lllp purchased a new stake in shares of TEGNA during the fourth quarter valued at about $27,000. Tower Research Capital LLC TRC boosted its stake in 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 purchasing an additional 749 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of TEGNA by 95.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company's stock valued at $31,000 after buying an additional 832 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of TEGNA during the fourth quarter valued at $32,000. Finally, Sound Income Strategies LLC acquired a new position in shares of TEGNA in the 4th quarter valued at $57,000. Hedge funds and other institutional investors own 92.19% of the company's stock.
TEGNA Price Performance
Shares of NYSE TGNA traded down $0.04 during midday trading on Thursday, hitting $16.70. The stock had a trading volume of 1,220,513 shares, compared to its average volume of 1,967,628. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. The stock has a 50 day simple moving average of $17.00 and a 200-day simple moving average of $17.76. The company has a market capitalization of $2.68 billion, a PE ratio of 5.90 and a beta of 0.31. TEGNA Inc. has a 1 year low of $12.35 and a 1 year high of $19.62.
TEGNA (NYSE:TGNA - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.03. The business had revenue of $680.05 million during the quarter, compared to analysts' expectations of $677.24 million. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The company's quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.45 earnings per share. On average, sell-side analysts expect that TEGNA Inc. will post 3.02 EPS for the current fiscal year.
TEGNA Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Friday, June 6th. TEGNA's dividend payout ratio (DPR) is currently 17.61%.
Analyst Ratings Changes
A number of brokerages have commented on TGNA. JPMorgan Chase & Co. lowered 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. Wells Fargo & Company dropped their target price on TEGNA from $23.00 to $21.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Wall Street Zen downgraded shares of TEGNA from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Guggenheim raised their target price on shares of TEGNA from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Finally, Benchmark decreased their target price 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. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.25.
Check Out Our Latest Research Report on TGNA
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.
See Also
Before you consider TEGNA, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TEGNA wasn't on the list.
While TEGNA currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
