Chicago Equity Partners LLC purchased a new position in shares of TEGNA Inc. (NYSE:TGNA) in the second quarter, Holdings Channel reports. The fund purchased 55,300 shares of the company’s stock, valued at approximately $600,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of TGNA. Cubist Systematic Strategies LLC lifted its holdings in shares of TEGNA by 14.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 37,684 shares of the company’s stock valued at $429,000 after buying an additional 4,804 shares during the period. Bbva Compass Bancshares Inc. lifted its holdings in shares of TEGNA by 7.7% in the 2nd quarter. Bbva Compass Bancshares Inc. now owns 68,746 shares of the company’s stock valued at $746,000 after buying an additional 4,915 shares during the period. Bailard Inc. lifted its holdings in shares of TEGNA by 11.0% in the 2nd quarter. Bailard Inc. now owns 52,500 shares of the company’s stock valued at $570,000 after buying an additional 5,200 shares during the period. Federated Investors Inc. PA increased its stake in shares of TEGNA by 6.5% in the 1st quarter. Federated Investors Inc. PA now owns 93,078 shares of the company’s stock valued at $1,060,000 after purchasing an additional 5,641 shares in the last quarter. Finally, Meridian Investment Counsel Inc. increased its stake in shares of TEGNA by 25.7% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 30,300 shares of the company’s stock valued at $329,000 after purchasing an additional 6,200 shares in the last quarter. 94.27% of the stock is owned by institutional investors.
NYSE:TGNA opened at $11.41 on Friday. TEGNA Inc. has a 12 month low of $10.00 and a 12 month high of $15.60. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 2.80. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 0.35 and a beta of 1.66.
TEGNA (NYSE:TGNA) last posted its quarterly earnings data on Tuesday, August 7th. The company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. TEGNA had a return on equity of 27.72% and a net margin of 25.33%. The company had revenue of $524.08 million during the quarter, compared to analyst estimates of $516.52 million. equities research analysts forecast that TEGNA Inc. will post 1.67 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 7th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $0.28 annualized dividend and a yield of 2.45%. TEGNA’s dividend payout ratio (DPR) is currently 25.93%.
Several equities analysts recently weighed in on TGNA shares. Zacks Investment Research upgraded TEGNA from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Monday, July 9th. Argus cut their price target on TEGNA from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, May 30th. Noble Financial set a $15.00 price target on TEGNA and gave the company a “buy” rating in a research note on Wednesday, August 22nd. Barrington Research restated a “buy” rating and issued a $15.00 price target on shares of TEGNA in a research note on Thursday, August 16th. Finally, Benchmark restated a “buy” rating and issued a $17.00 price target on shares of TEGNA in a research note on Wednesday, August 8th. Three research analysts have rated the stock with a sell rating, six have assigned 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 $14.50.
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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