TEGNA Inc. (NYSE:TGNA) Short Interest Update

TEGNA Inc. (NYSE:TGNA) was the target of a large increase in short interest in February. As of February 27th, there was short interest totaling 9,544,684 shares, an increase of 16.9% from the February 12th total of 8,167,111 shares. Approximately 5.9% of the company’s stock are short sold. Based on an average daily volume of 1,533,016 shares, the short-interest ratio is currently 6.2 days. Based on an average daily volume of 1,533,016 shares, the short-interest ratio is currently 6.2 days. Approximately 5.9% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TGNA. EverSource Wealth Advisors LLC grew its position in TEGNA by 13.0% in the third quarter. EverSource Wealth Advisors LLC now owns 4,480 shares of the company’s stock worth $91,000 after buying an additional 517 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of TEGNA by 3.4% during the 4th quarter. CIBC Asset Management Inc now owns 16,643 shares of the company’s stock valued at $323,000 after acquiring an additional 541 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of TEGNA by 1.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 36,830 shares of the company’s stock worth $715,000 after acquiring an additional 630 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of TEGNA by 12.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,810 shares of the company’s stock worth $118,000 after acquiring an additional 653 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of TEGNA by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 47,560 shares of the company’s stock worth $967,000 after acquiring an additional 657 shares during the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.

TEGNA Stock Down 0.4%

NYSE:TGNA opened at $20.39 on Wednesday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.80. The stock has a 50 day moving average of $19.95 and a 200-day moving average of $19.99. The firm has a market capitalization of $3.30 billion, a PE ratio of 15.10 and a beta of 0.12. TEGNA has a 52 week low of $14.87 and a 52 week high of $21.35.

TEGNA (NYSE:TGNA) last announced its quarterly earnings results on Monday, March 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.05. The company had revenue of $706.11 million during the quarter, compared to the consensus estimate of $701.29 million. TEGNA had a net margin of 8.11% and a return on equity of 8.60%. The company’s revenue for the quarter was down 18.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 earnings per share. Analysts predict that TEGNA will post 3.02 EPS for the current year.

TEGNA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 10th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.50 annualized dividend and a yield of 2.5%. TEGNA’s dividend payout ratio (DPR) is presently 37.04%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of TEGNA in a research report on Monday, December 29th. Zacks Research upgraded shares of TEGNA from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, TEGNA presently has an average rating of “Hold” and a consensus price target of $19.75.

TEGNA Company Profile

TEGNA Inc is a leading U.S. broadcast and digital media company that was formed as a spin-off from Gannett Co, Inc in June 2015. The company’s primary operations include the ownership and operation of local television stations, digital publishing platforms and marketing solutions designed to serve both national advertisers and local businesses. Through its portfolio of media assets, TEGNA delivers news, information and entertainment across multiple platforms, including over-the-air broadcasts, cable and satellite distribution, streaming services and proprietary websites and mobile apps.

TEGNA owns and operates approximately 60 television stations in 51 markets, reaching nearly 40 percent of U.S.