Gotham Asset Management LLC raised its position in TEGNA Inc. (NYSE:TGNA) by 30.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 713,003 shares of the company’s stock after buying an additional 166,268 shares during the period. Gotham Asset Management LLC owned 0.33% of TEGNA worth $18,267,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameritas Investment Partners Inc. purchased a new position in TEGNA during the first quarter worth about $131,000. ARS Investment Partners LLC bought a new position in TEGNA during the first quarter valued at $135,000. Seven Eight Capital LP bought a new position in TEGNA during the fourth quarter valued at $178,000. Ladenburg Thalmann Financial Services Inc. boosted its position in TEGNA by 7.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,552 shares of the company’s stock valued at $183,000 after buying an additional 563 shares during the period. Finally, Peak Asset Management LLC bought a new position in TEGNA during the first quarter valued at $205,000. Institutional investors own 86.60% of the company’s stock.
Shares of TEGNA Inc. (TGNA) traded up 0.77% during trading on Friday, reaching $14.39. 2,446,901 shares of the company were exchanged. The stock’s 50-day moving average is $18.03 and its 200-day moving average is $22.58. TEGNA Inc. has a 52-week low of $14.03 and a 52-week high of $26.65. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 7.68 and a beta of 1.74.
TEGNA (NYSE:TGNA) last issued its quarterly earnings data on Tuesday, May 9th. The company reported $0.33 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.33. TEGNA had a net margin of 12.25% and a return on equity of 19.16%. The business had revenue of $778.50 million during the quarter, compared to analyst estimates of $799.54 million. During the same period in the prior year, the business earned $0.45 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. Equities research analysts predict that TEGNA Inc. will post $1.38 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Friday, June 9th were issued a $0.07 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $0.28 annualized dividend and a yield of 1.95%. TEGNA’s dividend payout ratio (DPR) is presently 14.97%.
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Several research analysts recently weighed in on the stock. TheStreet upgraded shares of TEGNA from a “c” rating to a “b” rating in a research report on Thursday, March 30th. Jefferies Group LLC restated a “hold” rating and issued a $26.00 price objective on shares of TEGNA in a research report on Monday, April 3rd. FBR & Co lowered their target price on shares of TEGNA from $30.00 to $29.00 and set an “outperform” rating for the company in a report on Friday, May 5th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $16.50 target price on shares of TEGNA in a report on Thursday, June 1st. Finally, Barclays PLC reaffirmed an “underweight” rating and set a $13.00 target price (down previously from $20.00) on shares of TEGNA in a report on Monday, June 5th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $23.72.
Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
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