Linden Thomas Advisory Services LLC Raises Stake in TEGNA Inc. (NYSE:TGNA)

Linden Thomas Advisory Services LLC boosted its position in TEGNA Inc. (NYSE:TGNA) by 16.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,641 shares of the company’s stock after buying an additional 8,855 shares during the period. Linden Thomas Advisory Services LLC’s holdings in TEGNA were worth $1,164,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in shares of TEGNA during the 3rd quarter worth approximately $28,000. GAMMA Investing LLC grew its holdings in TEGNA by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock valued at $37,000 after buying an additional 757 shares in the last quarter. Sound Income Strategies LLC purchased a new position in shares of TEGNA during the 4th quarter worth $57,000. Quarry LP grew its holdings in shares of TEGNA by 455.2% during the 3rd quarter. Quarry LP now owns 4,025 shares of the company’s stock worth $64,000 after purchasing an additional 3,300 shares during the period. Finally, US Bancorp DE grew its holdings in shares of TEGNA by 20.4% during the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company’s stock worth $71,000 after purchasing an additional 764 shares during the period. Hedge funds and other institutional investors own 92.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TGNA. Benchmark increased their price target on TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Guggenheim reaffirmed a “buy” rating and issued a $22.00 price target on shares of TEGNA in a research report on Friday. JPMorgan Chase & Co. increased their price target on TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Wells Fargo & Company raised TEGNA from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $21.00 to $23.00 in a research report on Thursday, December 19th. Finally, StockNews.com raised TEGNA from a “hold” rating to a “buy” rating in a research report on Friday, December 13th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.75.

TEGNA Trading Up 0.1 %

TGNA opened at $18.23 on Friday. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 6.44 and a beta of 0.52. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $19.62. The business’s 50 day moving average is $18.39 and its two-hundred day moving average is $16.43. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07.

TEGNA (NYSE:TGNA) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.83 by $0.11. The company had revenue of $806.83 million for the quarter, compared to analyst estimates of $795.72 million. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 earnings per share. On average, research analysts predict that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.74%. The ex-dividend date was Friday, December 6th. TEGNA’s dividend payout ratio (DPR) is 17.67%.

TEGNA Company Profile

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.