HBK Investments L P Acquires Shares of 150,000 TEGNA Inc. (NYSE:TGNA)

HBK Investments L P acquired a new stake in shares of TEGNA Inc. (NYSE:TGNAGet Rating) during the fourth quarter, Holdings Channel reports. The firm acquired 150,000 shares of the company’s stock, valued at approximately $2,784,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TGNA. Ariel Investments LLC raised its position in TEGNA by 12.3% in the 4th quarter. Ariel Investments LLC now owns 9,302,022 shares of the company’s stock worth $172,645,000 after purchasing an additional 1,021,852 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in TEGNA by 2,715.6% in the 4th quarter. Crossmark Global Holdings Inc. now owns 523,137 shares of the company’s stock worth $9,710,000 after purchasing an additional 504,557 shares during the last quarter. Virginia Retirement Systems ET AL raised its position in TEGNA by 56.6% in the 4th quarter. Virginia Retirement Systems ET AL now owns 68,100 shares of the company’s stock worth $1,264,000 after purchasing an additional 24,600 shares during the last quarter. Morgan Stanley raised its position in TEGNA by 3.7% in the 3rd quarter. Morgan Stanley now owns 665,127 shares of the company’s stock worth $13,116,000 after purchasing an additional 23,557 shares during the last quarter. Finally, UMB Bank N A MO bought a new position in TEGNA in the 4th quarter worth approximately $39,000. 89.25% of the stock is currently owned by institutional investors.

Shares of TEGNA stock traded up $0.35 during trading hours on Wednesday, reaching $21.54. 762,438 shares of the company’s stock were exchanged, compared to its average volume of 2,897,535. The company has a 50 day moving average of $22.08 and a two-hundred day moving average of $20.98. TEGNA Inc. has a fifty-two week low of $16.42 and a fifty-two week high of $23.04. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 1.17. The stock has a market cap of $4.80 billion, a P/E ratio of 9.62 and a beta of 0.87.

TEGNA (NYSE:TGNAGet Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. TEGNA had a net margin of 16.41% and a return on equity of 20.19%. The company had revenue of $774.30 million during the quarter, compared to the consensus estimate of $765.83 million. During the same period in the prior year, the business posted $0.52 EPS. The company’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, analysts expect that TEGNA Inc. will post 2.92 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 3rd will be paid a dividend of $0.095 per share. The ex-dividend date of this dividend is Thursday, June 2nd. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.76%. TEGNA’s dividend payout ratio is 16.96%.

Several analysts have commented on TGNA shares. Argus cut shares of TEGNA from a “buy” rating to a “hold” rating in a research report on Wednesday, April 13th. StockNews.com raised shares of TEGNA from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Wells Fargo & Company lowered shares of TEGNA from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $23.00 to $24.00 in a research note on Wednesday, May 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, TEGNA presently has an average rating of “Hold” and a consensus price target of $22.33.

TEGNA Profile (Get Rating)

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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Institutional Ownership by Quarter for TEGNA (NYSE:TGNA)

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