Dynamic Technology Lab Private Ltd Makes New $324,000 Investment in TEGNA Inc. (NYSE:TGNA)

Dynamic Technology Lab Private Ltd bought a new position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,705 shares of the company's stock, valued at approximately $324,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Jones Financial Companies Lllp bought a new stake in shares of TEGNA in the 4th quarter worth approximately $27,000. Smartleaf Asset Management LLC raised its stake in shares of TEGNA by 95.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company's stock valued at $31,000 after purchasing an additional 832 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of TEGNA by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company's stock valued at $37,000 after purchasing an additional 757 shares in the last quarter. Sound Income Strategies LLC bought a new position in TEGNA in the fourth quarter worth $57,000. Finally, PNC Financial Services Group Inc. boosted its stake in TEGNA by 34.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,364 shares of the company's stock worth $80,000 after buying an additional 1,111 shares in the last quarter. Institutional investors own 92.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TGNA shares. StockNews.com cut shares of TEGNA from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Guggenheim dropped their price target on shares of TEGNA from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Friday. Finally, Wells Fargo & Company raised TEGNA from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $21.00 to $23.00 in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, TEGNA currently has an average rating of "Moderate Buy" and an average target price of $21.25.

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TEGNA Price Performance

Shares of NYSE:TGNA traded up $0.58 on Monday, hitting $16.00. The stock had a trading volume of 1,104,556 shares, compared to its average volume of 1,684,486. The firm's 50 day moving average price is $17.71 and its 200-day moving average price is $17.69. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $19.62. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 5.65 and a beta of 0.25.

TEGNA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th were given a $0.125 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a yield of 3.13%. TEGNA's dividend payout ratio (DPR) is presently 14.12%.

About TEGNA

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.