TEGNA Inc. (NYSE:TGNA - Get Free Report) was the recipient of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 4,900,000 shares, a decline of 25.5% from the March 15th total of 6,580,000 shares. Currently, 3.1% of the shares of the company are short sold. Based on an average trading volume of 1,710,000 shares, the short-interest ratio is presently 2.9 days.
Hedge Funds Weigh In On TEGNA
A number of institutional investors have recently modified their holdings of TGNA. Jones Financial Companies Lllp purchased a new position in TEGNA during the 4th quarter worth $27,000. Neo Ivy Capital Management purchased a new stake in TEGNA in the fourth quarter worth about $28,000. Tower Research Capital LLC TRC increased its position in TEGNA by 80.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock valued at $31,000 after purchasing an additional 749 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of TEGNA by 95.6% in the 4th 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. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of TEGNA in the 4th quarter worth approximately $32,000. 92.19% of the stock is owned by hedge funds and other institutional investors.
TEGNA Trading Up 0.8 %
TEGNA stock traded up $0.14 during mid-day trading on Thursday, hitting $16.09. The company's stock had a trading volume of 338,245 shares, compared to its average volume of 1,688,220. The stock has a market cap of $2.59 billion, a PE ratio of 5.68 and a beta of 0.25. TEGNA has a one year low of $12.35 and a one year high of $19.62. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. The company has a 50 day moving average of $17.34 and a 200-day moving average of $17.68.
TEGNA Announces Dividend
The business also recently disclosed 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 annualized dividend and a yield of 3.11%. TEGNA's dividend payout ratio (DPR) is 14.12%.
Analyst Ratings Changes
TGNA has been the subject of several analyst reports. StockNews.com lowered shares of TEGNA from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Guggenheim decreased their price objective on shares of TEGNA from $22.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $21.25.
Check Out Our Latest Stock Analysis on TEGNA
About TEGNA
(
Get 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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