Marshall Wace North America L.P. acquired a new stake in shares of TEGNA Inc. (NYSE:TGNA) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 158,906 shares of the company’s stock, valued at approximately $4,132,000. Marshall Wace North America L.P. owned approximately 0.07% of TEGNA at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in TEGNA during the fourth quarter valued at $483,000. Envestnet Asset Management Inc. raised its stake in shares of TEGNA by 46.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 60,816 shares of the company’s stock worth $1,303,000 after buying an additional 19,295 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of TEGNA during the fourth quarter worth approximately $2,389,000. Gideon Capital Advisors Inc. acquired a new stake in shares of TEGNA during the fourth quarter worth approximately $256,000. Finally, Asset Management One Co. Ltd. raised its stake in shares of TEGNA by 1,733.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 361,716 shares of the company’s stock worth $7,742,000 after buying an additional 341,992 shares during the period. Institutional investors own 86.60% of the company’s stock.
TEGNA Inc. (NYSE:TGNA) traded down 3.47% during mid-day trading on Tuesday, hitting $14.73. 2,954,246 shares of the stock traded hands. The firm has a market cap of $3.16 billion, a P/E ratio of 7.86 and a beta of 1.79. TEGNA Inc. has a 52-week low of $14.03 and a 52-week high of $26.65. The firm’s 50-day moving average is $20.41 and its 200 day moving average is $23.06.
TEGNA (NYSE:TGNA) last released its quarterly earnings data on Tuesday, May 9th. The company reported $0.33 EPS for the quarter, hitting the consensus estimate of $0.33. TEGNA had a return on equity of 19.16% and a net margin of 12.25%. The company had revenue of $778.50 million during the quarter, compared to the consensus estimate of $799.54 million. During the same period last year, the company earned $0.45 EPS. TEGNA’s revenue for the quarter was down .4% on a year-over-year basis. Equities analysts predict that TEGNA Inc. will post $1.39 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Friday, June 9th will be issued a $0.07 dividend. The ex-dividend date is Wednesday, June 7th. This represents a $0.28 annualized dividend and a yield of 1.83%. TEGNA’s payout ratio is 14.97%.
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A number of analysts have commented on the stock. Jefferies Group LLC restated a “hold” rating and set a $16.00 price target on shares of TEGNA in a research note on Thursday, June 1st. Benchmark Co. boosted their price target on shares of TEGNA from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, February 28th. ValuEngine lowered shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. FBR & Co restated an “outperform” rating and set a $30.00 price target (up previously from $28.00) on shares of TEGNA in a research note on Tuesday, February 28th. Finally, TheStreet upgraded shares of TEGNA from a “c” rating to a “b” rating in a research note on Thursday, March 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $23.72.
Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
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