Algert Global LLC grew its holdings in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 22.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,520 shares of the company's stock after purchasing an additional 15,388 shares during the period. Algert Global LLC owned approximately 0.05% of TEGNA worth $1,546,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp purchased a new stake in TEGNA in the 4th quarter valued at approximately $27,000. Smartleaf Asset Management LLC lifted its stake in TEGNA by 95.6% in the 4th 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 in the last quarter. Tower Research Capital LLC TRC lifted 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 valued at $31,000 after buying an additional 749 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in TEGNA in the 4th quarter valued at approximately $32,000. Finally, GAMMA Investing LLC lifted its stake in shares of TEGNA by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company's stock worth $37,000 after purchasing an additional 757 shares during the period. Institutional investors and hedge funds own 92.19% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on TGNA shares. Guggenheim increased their price target on TEGNA from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday. Wells Fargo & Company reduced their price target on TEGNA from $23.00 to $21.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Benchmark reduced their price target on TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Finally, StockNews.com lowered TEGNA from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, TEGNA has an average rating of "Moderate Buy" and a consensus target price of $20.50.
Read Our Latest Report on TGNA
TEGNA Trading Up 3.0%
Shares of TGNA stock traded up $0.51 on Tuesday, reaching $17.71. 1,251,399 shares of the stock were exchanged, compared to its average volume of 1,974,338. The stock has a market cap of $2.85 billion, a P/E ratio of 6.26 and a beta of 0.31. 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 firm has a 50 day moving average of $17.04 and a two-hundred day moving average of $17.74. 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 released its quarterly earnings data on Thursday, May 8th. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.03. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The business had revenue of $680.05 million during the quarter, compared to the consensus estimate of $677.24 million. During the same period in the prior year, the firm posted $0.45 EPS. The business's revenue for the quarter was down 4.8% on a year-over-year basis. On average, research analysts anticipate that TEGNA Inc. will post 3.02 EPS for the current year.
TEGNA Company Profile
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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.
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