Parametrica Management Ltd purchased a new position in TEGNA Inc. (NYSE:TGNA) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 32,542 shares of the company’s stock, valued at approximately $459,000. TEGNA accounts for about 1.0% of Parametrica Management Ltd’s holdings, making the stock its 10th largest holding.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Louisiana State Employees Retirement System grew its position in TEGNA by 1.2% in the 1st quarter. Louisiana State Employees Retirement System now owns 57,800 shares of the company’s stock worth $815,000 after purchasing an additional 700 shares during the last quarter. Retirement Systems of Alabama grew its position in TEGNA by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 279,152 shares of the company’s stock worth $3,034,000 after purchasing an additional 961 shares during the last quarter. Bank of Montreal Can grew its position in TEGNA by 1.6% in the 4th quarter. Bank of Montreal Can now owns 74,046 shares of the company’s stock worth $805,000 after purchasing an additional 1,165 shares during the last quarter. Janney Montgomery Scott LLC grew its position in TEGNA by 2.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 44,353 shares of the company’s stock worth $482,000 after purchasing an additional 1,220 shares during the last quarter. Finally, Quantamental Technologies LLC boosted its position in shares of TEGNA by 8.7% during the 1st quarter. Quantamental Technologies LLC now owns 20,088 shares of the company’s stock valued at $283,000 after acquiring an additional 1,600 shares in the last quarter. Institutional investors own 96.10% of the company’s stock.
In related news, Director Neal Shapiro sold 27,613 shares of TEGNA stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $14.72, for a total transaction of $406,463.36. Following the completion of the transaction, the director now directly owns 17,478 shares of the company’s stock, valued at approximately $257,276.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.48% of the company’s stock.
Several analysts have recently weighed in on the stock. Evercore ISI upgraded shares of TEGNA from an “in-line” rating to an “outperform” rating in a research report on Monday, March 25th. ValuEngine upgraded shares of TEGNA from a “strong sell” rating to a “sell” rating in a research report on Thursday, February 28th. Noble Financial set a $20.00 target price on shares of TEGNA and gave the company a “buy” rating in a research report on Friday, May 10th. Barrington Research reiterated a “buy” rating and set a $17.00 target price on shares of TEGNA in a research report on Friday, March 1st. Finally, Zacks Investment Research lowered shares of TEGNA from a “buy” rating to a “hold” rating in a research report on Thursday, February 28th. One investment 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. The company has a consensus rating of “Hold” and an average target price of $15.38.
Shares of TGNA stock opened at $16.02 on Friday. TEGNA Inc. has a 12-month low of $10.11 and a 12-month high of $16.57. The stock has a market cap of $3.42 billion, a P/E ratio of 8.78, a PEG ratio of 1.21 and a beta of 1.60. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 2.12.
TEGNA (NYSE:TGNA) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. TEGNA had a net margin of 18.91% and a return on equity of 30.61%. The firm had revenue of $516.80 million during the quarter, compared to the consensus estimate of $512.45 million. During the same period last year, the firm posted $0.33 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities research analysts expect that TEGNA Inc. will post 1.31 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Thursday, June 6th. TEGNA’s dividend payout ratio is currently 15.30%.
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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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