Quantitative Systematic Strategies LLC acquired a new stake in shares of TEGNA Inc. (NYSE:TGNA) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,230 shares of the company’s stock, valued at approximately $226,000.
Several other institutional investors and hedge funds also recently made changes to their positions in TGNA. Hall Laurie J Trustee purchased a new stake in shares of TEGNA during the third quarter valued at $25,000. Meeder Asset Management Inc. grew its holdings in shares of TEGNA by 5,995.9% during the third quarter. Meeder Asset Management Inc. now owns 4,511 shares of the company’s stock valued at $53,000 after buying an additional 4,437 shares during the last quarter. Private Advisor Group LLC purchased a new stake in shares of TEGNA during the second quarter valued at $59,000. Islay Capital Management LLC purchased a new stake in shares of TEGNA during the second quarter valued at $79,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of TEGNA during the second quarter valued at $80,000. 92.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE TGNA opened at $14.40 on Friday. TEGNA Inc. has a 12-month low of $9.61 and a 12-month high of $18.31. The stock has a market cap of $3.16 billion, a PE ratio of 13.33, a P/E/G ratio of 0.63 and a beta of 1.29. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 2.45. The company has a 50-day moving average of $12.69 and a 200 day moving average of $11.90.
TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Monday, November 9th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). TEGNA had a net margin of 9.51% and a return on equity of 17.43%. The business had revenue of $738.40 million for the quarter, compared to analysts’ expectations of $737.97 million. During the same period in the prior year, the company posted $0.27 EPS. The firm’s revenue was up 33.8% on a year-over-year basis. On average, sell-side analysts forecast that TEGNA Inc. will post 1.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, December 11th will be paid a $0.07 dividend. The ex-dividend date is Thursday, December 10th. This represents a $0.28 annualized dividend and a dividend yield of 1.94%. TEGNA’s dividend payout ratio (DPR) is 20.29%.
A number of brokerages have recently weighed in on TGNA. Barrington Research reissued a “buy” rating and set a $15.00 price objective on shares of TEGNA in a report on Monday, August 10th. Zacks Investment Research lowered shares of TEGNA from a “buy” rating to a “hold” rating and set a $13.00 price objective on the stock. in a report on Tuesday, October 13th. ValuEngine downgraded shares of TEGNA from a “sell” rating to a “strong sell” rating in a research report on Friday, October 16th. Finally, Wells Fargo & Company upgraded shares of TEGNA from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. TEGNA has an average rating of “Hold” and an average target price of $14.86.
TEGNA Company 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.
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