TEGNA Inc. (NYSE:TGNA) Shares Acquired by Whitebox Advisors LLC

Whitebox Advisors LLC raised its holdings in TEGNA Inc. (NYSE:TGNA - Free Report) by 459.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,703 shares of the company's stock after buying an additional 117,203 shares during the period. Whitebox Advisors LLC owned about 0.09% of TEGNA worth $2,610,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp acquired a new stake in TEGNA in the 4th quarter worth about $27,000. Smartleaf Asset Management LLC boosted its stake in TEGNA by 95.6% during the 4th 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. Tower Research Capital LLC TRC raised its holdings in shares of TEGNA by 80.2% during the fourth 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 during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of TEGNA during the fourth quarter worth $32,000. Finally, GAMMA Investing LLC increased its stake in TEGNA by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company's stock valued at $37,000 after buying an additional 757 shares during the period. Hedge funds and other institutional investors own 92.19% of the company's stock.

TEGNA Stock Performance

Shares of TGNA stock opened at $16.23 on Thursday. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 5.74 and a beta of 0.25. The firm has a 50 day moving average of $17.16 and a 200-day moving average of $17.70. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $19.62.

TEGNA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 3.08%. The ex-dividend date was Friday, March 7th. TEGNA's dividend payout ratio (DPR) is presently 14.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TGNA shares. StockNews.com cut shares of TEGNA from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Guggenheim reduced their target price on TEGNA from $22.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, TEGNA presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.25.

About TEGNA

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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