Clark Estates Inc. NY Lowers Holdings in TEGNA Inc. (NYSE:TGNA)

Clark Estates Inc. NY trimmed its stake in shares of TEGNA Inc. (NYSE:TGNA) by 10.8% during the 4th quarter, Holdings Channel reports. The fund owned 160,859 shares of the company’s stock after selling 19,491 shares during the quarter. Clark Estates Inc. NY’s holdings in TEGNA were worth $2,942,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of TGNA. Jones Financial Companies Lllp acquired a new stake in shares of TEGNA during the 4th quarter worth approximately $27,000. Smartleaf Asset Management LLC boosted its holdings in TEGNA by 95.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company’s stock worth $31,000 after buying an additional 832 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in TEGNA during the third quarter valued at $28,000. GAMMA Investing LLC grew its position in TEGNA by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock valued at $37,000 after buying an additional 757 shares during the period. Finally, Sound Income Strategies LLC purchased a new position in TEGNA in the fourth quarter valued at $57,000. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Guggenheim restated a “buy” rating and set a $22.00 target price on shares of TEGNA in a research report on Friday, January 24th. StockNews.com lowered TEGNA from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Benchmark upped their target price on TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Wells Fargo & Company upgraded TEGNA from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $21.00 to $23.00 in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. boosted their price target on shares of TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Two 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $21.75.

TEGNA Price Performance

Shares of TEGNA stock opened at $17.31 on Wednesday. The stock has a market capitalization of $2.79 billion, a P/E ratio of 6.11 and a beta of 0.52. The business has a 50 day simple moving average of $18.14 and a two-hundred day simple moving average of $16.99. TEGNA Inc. has a 12 month low of $12.35 and a 12 month high of $19.62. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60.

TEGNA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.125 per share. The ex-dividend date is Friday, March 7th. This represents a $0.50 annualized dividend and a yield of 2.89%. TEGNA’s dividend payout ratio (DPR) is presently 14.12%.

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.