Algert Global LLC purchased a new stake in TEGNA Inc. (NYSE:TGNA) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 230,042 shares of the company’s stock, valued at approximately $2,501,000. TEGNA makes up 0.7% of Algert Global LLC’s holdings, making the stock its 29th largest holding.
Several other large investors have also recently added to or reduced their stakes in TGNA. Northern Trust Corp boosted its holdings in shares of TEGNA by 60.5% in the 2nd quarter. Northern Trust Corp now owns 3,177,579 shares of the company’s stock valued at $34,477,000 after buying an additional 1,197,787 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in TEGNA by 35.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 3,963,036 shares of the company’s stock worth $47,398,000 after purchasing an additional 1,034,575 shares in the last quarter. Smead Capital Management Inc. boosted its stake in TEGNA by 27.5% in the 3rd quarter. Smead Capital Management Inc. now owns 4,178,899 shares of the company’s stock worth $49,980,000 after purchasing an additional 901,024 shares in the last quarter. Vanguard Group Inc. boosted its stake in TEGNA by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 21,012,929 shares of the company’s stock worth $251,314,000 after purchasing an additional 549,310 shares in the last quarter. Finally, Vanguard Group Inc boosted its stake in TEGNA by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 21,012,929 shares of the company’s stock worth $251,314,000 after purchasing an additional 549,310 shares in the last quarter. Institutional investors and hedge funds own 94.20% of the company’s stock.
TGNA opened at $11.53 on Wednesday. TEGNA Inc. has a 12-month low of $10.00 and a 12-month high of $14.24. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 2.48. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 0.76 and a beta of 1.53.
TEGNA (NYSE:TGNA) last posted its quarterly earnings results on Thursday, November 8th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. TEGNA had a net margin of 26.46% and a return on equity of 28.02%. The company had revenue of $539.00 million during the quarter, compared to analyst estimates of $537.68 million. During the same period last year, the firm posted $0.23 EPS. TEGNA’s revenue for the quarter was up 16.1% compared to the same quarter last year. Analysts expect that TEGNA Inc. will post 1.81 EPS for the current year.
A number of analysts recently commented on TGNA shares. ValuEngine cut shares of TEGNA from a “sell” rating to a “strong sell” rating in a research note on Monday, January 7th. Gabelli started coverage on shares of TEGNA in a research note on Tuesday, November 27th. They issued a “buy” rating for the company. Wolfe Research started coverage on shares of TEGNA in a research note on Friday, December 7th. They issued a “market perform” rating for the company. Noble Financial reiterated a “buy” rating on shares of TEGNA in a research note on Friday, November 16th. Finally, Zacks Investment Research cut shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Saturday, January 5th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.09.
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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