Squarepoint Ops LLC raised its position in shares of TEGNA Inc. (NYSE:TGNA) by 3.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 255,668 shares of the company’s stock after acquiring an additional 9,547 shares during the period. Squarepoint Ops LLC’s holdings in TEGNA were worth $3,971,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan grew its holdings in shares of TEGNA by 1.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 39,900 shares of the company’s stock worth $604,000 after purchasing an additional 650 shares during the last quarter. First Mercantile Trust Co. grew its holdings in shares of TEGNA by 3.8% in the third quarter. First Mercantile Trust Co. now owns 19,880 shares of the company’s stock worth $309,000 after purchasing an additional 735 shares during the last quarter. LS Investment Advisors LLC lifted its stake in TEGNA by 8.1% in the third quarter. LS Investment Advisors LLC now owns 11,612 shares of the company’s stock worth $180,000 after acquiring an additional 867 shares during the period. Stone Ridge Asset Management LLC lifted its stake in TEGNA by 2.9% in the second quarter. Stone Ridge Asset Management LLC now owns 42,246 shares of the company’s stock worth $640,000 after acquiring an additional 1,200 shares during the period. Finally, US Bancorp DE lifted its stake in TEGNA by 7.2% in the second quarter. US Bancorp DE now owns 18,777 shares of the company’s stock worth $284,000 after acquiring an additional 1,265 shares during the period. Institutional investors and hedge funds own 99.46% of the company’s stock.
A number of analysts recently weighed in on the stock. Barrington Research reaffirmed a “buy” rating and issued a $20.00 price objective on shares of TEGNA in a research note on Thursday, November 14th. Zacks Investment Research raised shares of TEGNA from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Monday, November 4th. Wolfe Research raised shares of TEGNA from a “market perform” rating to an “outperform” rating in a research note on Monday, August 19th. ValuEngine raised shares of TEGNA from a “strong sell” rating to a “sell” rating in a research note on Friday, November 1st. Finally, Cannonball Research assumed coverage on shares of TEGNA in a research note on Wednesday, August 21st. They issued a “neutral” rating and a $17.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. TEGNA has a consensus rating of “Hold” and a consensus price target of $17.44.
NYSE:TGNA opened at $15.35 on Thursday. TEGNA Inc. has a 1-year low of $10.24 and a 1-year high of $16.58. The company has a 50-day moving average of $15.38 and a 200 day moving average of $15.18. The firm has a market cap of $3.29 billion, a PE ratio of 8.39, a price-to-earnings-growth ratio of 1.27 and a beta of 1.43. The company has a debt-to-equity ratio of 2.81, a current ratio of 1.73 and a quick ratio of 1.73.
TEGNA (NYSE:TGNA) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.27 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. The business had revenue of $551.86 million during the quarter, compared to analyst estimates of $540.52 million. TEGNA had a net margin of 16.15% and a return on equity of 24.84%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 earnings per share. Sell-side analysts anticipate that TEGNA Inc. will post 1.2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Thursday, December 5th. TEGNA’s payout ratio is 15.30%.
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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