Holocene Advisors LP purchased a new stake in TEGNA Inc. (NYSE:TGNA - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 196,205 shares of the company's stock, valued at approximately $3,096,000. Holocene Advisors LP owned approximately 0.12% of TEGNA as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new stake in TEGNA in the 3rd quarter valued at $28,000. US Bancorp DE lifted its holdings in shares of TEGNA by 20.4% in the third quarter. US Bancorp DE now owns 4,503 shares of the company's stock valued at $71,000 after purchasing an additional 764 shares in the last quarter. Headlands Technologies LLC boosted its position in shares of TEGNA by 48.2% during the second quarter. Headlands Technologies LLC now owns 4,520 shares of the company's stock worth $63,000 after buying an additional 1,470 shares during the period. CWM LLC boosted its position in shares of TEGNA by 146.3% during the second quarter. CWM LLC now owns 4,614 shares of the company's stock worth $64,000 after buying an additional 2,741 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of TEGNA by 247.8% during the second quarter. Blue Trust Inc. now owns 4,702 shares of the company's stock worth $70,000 after buying an additional 3,350 shares in the last quarter. Institutional investors and hedge funds own 92.19% of the company's stock.
TEGNA Stock Up 0.4 %
Shares of NYSE:TGNA traded up $0.07 during trading on Friday, hitting $18.77. 1,332,871 shares of the company were exchanged, compared to its average volume of 2,199,302. TEGNA Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $19.62. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 6.61 and a beta of 0.52. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07. The firm has a fifty day moving average price of $17.14 and a two-hundred day moving average price of $15.31.
TEGNA (NYSE:TGNA - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.94 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.11. The business had revenue of $806.83 million for the quarter, compared to the consensus estimate of $795.72 million. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The firm's revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 earnings per share. As a group, research analysts anticipate that TEGNA Inc. will post 3.02 earnings per share for the current fiscal year.
TEGNA Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.50 annualized dividend and a yield of 2.66%. TEGNA's dividend payout ratio (DPR) is currently 17.67%.
Analysts Set New Price Targets
TGNA has been the topic of several research reports. JPMorgan Chase & Co. boosted their target price on TEGNA from $16.00 to $19.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th. StockNews.com lowered shares of TEGNA from a "buy" rating to a "hold" rating in a research report on Saturday, November 23rd. Finally, Benchmark raised their target price on shares of TEGNA from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Friday, November 8th.
Get Our Latest Stock Report on TGNA
Insider Buying and Selling
In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of TEGNA stock in a transaction on Friday, October 25th. The shares were sold at an average price of $16.40, for a total transaction of $410,000.00. Following the completion of the transaction, the chief operating officer now directly owns 154,617 shares of the company's stock, valued at $2,535,718.80. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.88% of the stock is currently owned by corporate insiders.
TEGNA Company Profile
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Free Report)
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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