Amalgamated Bank lessened its stake in shares of TEGNA Inc. (NYSE:TGNA – Get Rating) by 4.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,072 shares of the company's stock after selling 6,312 shares during the quarter. Amalgamated Bank owned 0.06% of TEGNA worth $3,160,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in TEGNA during the first quarter worth about $130,000. Bank of America Corp DE boosted its stake in TEGNA by 69.3% during the first quarter. Bank of America Corp DE now owns 820,309 shares of the company's stock worth $18,374,000 after buying an additional 335,907 shares during the period. Walleye Capital LLC purchased a new position in shares of TEGNA in the first quarter valued at approximately $2,154,000. Gabelli Funds LLC boosted its stake in shares of TEGNA by 363.5% in the first quarter. Gabelli Funds LLC now owns 861,901 shares of the company's stock valued at $19,307,000 after purchasing an additional 675,964 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in shares of TEGNA by 596.5% in the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 396,039 shares of the company's stock valued at $8,871,000 after purchasing an additional 339,176 shares during the period. Hedge funds and other institutional investors own 90.25% of the company's stock.
Get TEGNA alerts:Analyst Upgrades and Downgrades
Several research analysts have recently commented on the stock. StockNews.com raised shares of TEGNA from a "hold" rating to a "buy" rating in a research note on Monday, September 12th. Huber Research raised shares of TEGNA from an "underweight" rating to an "overweight" rating in a research note on Monday, June 6th.
TEGNA Stock Down 0.8 %
Shares of NYSE:TGNA opened at $21.55 on Friday. The firm's 50 day moving average price is $21.38 and its 200 day moving average price is $21.54. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 9.17 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. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.12.TEGNA (NYSE:TGNA – Get Rating) last issued its earnings results on Monday, August 8th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. The firm had revenue of $784.90 million for the quarter, compared to analysts' expectations of $800.78 million. TEGNA had a net margin of 16.94% and a return on equity of 20.18%. The firm's revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 earnings per share. As a group, equities research analysts predict that TEGNA Inc. will post 3 earnings per share for the current fiscal year.
TEGNA Dividend Announcement
The company also recently announced 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. The ex-dividend date is Thursday, September 8th. This represents a $0.38 annualized dividend and a yield of 1.76%. TEGNA's dividend payout ratio (DPR) is 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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