EMC Capital Management Has $143,000 Holdings in TEGNA Inc. $TGNA

EMC Capital Management decreased its position in shares of TEGNA Inc. (NYSE:TGNA) by 58.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 8,554 shares of the company’s stock after selling 11,792 shares during the period. EMC Capital Management’s holdings in TEGNA were worth $143,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Meritage Portfolio Management increased its stake in TEGNA by 2.7% during the 2nd quarter. Meritage Portfolio Management now owns 25,801 shares of the company’s stock valued at $432,000 after purchasing an additional 688 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of TEGNA by 15.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,058 shares of the company’s stock valued at $92,000 after buying an additional 694 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of TEGNA by 12.6% during the second quarter. Parkside Financial Bank & Trust now owns 6,295 shares of the company’s stock valued at $106,000 after buying an additional 706 shares during the last quarter. Police & Firemen s Retirement System of New Jersey increased its position in shares of TEGNA by 2.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 36,978 shares of the company’s stock worth $620,000 after acquiring an additional 838 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of TEGNA by 3.4% during the second quarter. Cetera Investment Advisers now owns 30,304 shares of the company’s stock worth $508,000 after acquiring an additional 1,007 shares in the last quarter. 92.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TGNA has been the topic of several recent research reports. Wells Fargo & Company cut shares of TEGNA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. Zacks Research downgraded TEGNA from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Guggenheim reaffirmed a “neutral” rating and set a $19.00 target price on shares of TEGNA in a research report on Friday, August 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of TEGNA in a report on Monday. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.75.

TEGNA Trading Down 0.1%

Shares of TGNA stock opened at $19.88 on Thursday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 7.15 and a beta of 0.25. TEGNA Inc. has a 52-week low of $14.87 and a 52-week high of $21.35. The company has a 50-day simple moving average of $20.21 and a two-hundred day simple moving average of $18.65.

TEGNA (NYSE:TGNA) last posted its earnings results on Monday, November 10th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). The firm had revenue of $650.79 million for the quarter, compared to the consensus estimate of $658.28 million. TEGNA had a return on equity of 16.20% and a net margin of 14.99%.TEGNA’s quarterly revenue was down 19.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 EPS. Research analysts anticipate that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 5th will be given a $0.125 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.50 annualized dividend and a yield of 2.5%. TEGNA’s payout ratio is currently 23.58%.

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.