Walleye Capital LLC purchased a new stake in shares of TEGNA Inc. (NYSE:TGNA – Get Rating) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 96,181 shares of the company's stock, valued at approximately $2,154,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Prospera Financial Services Inc bought a new stake in TEGNA during the 1st quarter valued at $29,000. Steward Financial Group LLC bought a new stake in shares of TEGNA in the 1st quarter worth $33,000. Covestor Ltd bought a new stake in shares of TEGNA in the 4th quarter worth $34,000. Atlas Capital Advisors LLC grew its stake in shares of TEGNA by 149.4% in the 1st quarter. Atlas Capital Advisors LLC now owns 2,494 shares of the company's stock worth $56,000 after acquiring an additional 1,494 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of TEGNA in the 1st quarter worth $83,000. Institutional investors own 90.25% of the company's stock.
Get TEGNA alerts:Analyst Upgrades and Downgrades
Several research firms have recently issued reports on TGNA. Huber Research upgraded shares of TEGNA from an "underweight" rating to an "overweight" rating in a research note on Monday, June 6th. StockNews.com upgraded shares of TEGNA from a "hold" rating to a "buy" rating in a research note on Monday, September 12th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, TEGNA currently has an average rating of "Hold" and a consensus target price of $23.50.
TEGNA Price Performance
Shares of NYSE:TGNA opened at $21.68 on Friday. The company's 50-day moving average is $21.19 and its 200 day moving average is $21.56. The company has a debt-to-equity ratio of 1.12, a quick ratio of 2.39 and a current ratio of 2.39. The company has a market capitalization of $4.84 billion, a P/E ratio of 9.23 and a beta of 0.78. TEGNA Inc. has a fifty-two week low of $17.94 and a fifty-two week high of $23.04.TEGNA (NYSE:TGNA – Get Rating) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. The company had revenue of $784.90 million for the quarter, compared to the consensus estimate of $800.78 million. TEGNA had a net margin of 16.94% and a return on equity of 20.18%. The firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. On average, equities research analysts forecast that TEGNA Inc. will post 3 earnings per share for the current year.
TEGNA Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Thursday, September 8th. TEGNA's dividend payout ratio (DPR) is currently 16.17%.
TEGNA Profile
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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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