S. Muoio & CO. LLC decreased its position in TEGNA Inc. (NYSE:TGNA) by 13.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 206,105 shares of the company’s stock after selling 32,000 shares during the period. TEGNA makes up 1.4% of S. Muoio & CO. LLC’s portfolio, making the stock its 22nd largest position. S. Muoio & CO. LLC owned approximately 0.10% of TEGNA worth $2,236,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in TGNA. Fox Run Management L.L.C. acquired a new position in shares of TEGNA during the 2nd quarter worth approximately $112,000. Trexquant Investment LP acquired a new stake in TEGNA in the second quarter valued at approximately $115,000. Todd Asset Management LLC acquired a new stake in TEGNA in the second quarter valued at approximately $115,000. Quantbot Technologies LP acquired a new stake in TEGNA in the first quarter valued at approximately $137,000. Finally, Cadence Capital Management LLC acquired a new stake in TEGNA in the second quarter valued at approximately $140,000. 97.16% of the stock is owned by institutional investors.

A number of analysts have weighed in on TGNA shares. Argus cut their target price on shares of TEGNA from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, May 30th. ValuEngine raised shares of TEGNA from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 21st. Zacks Investment Research raised shares of TEGNA from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Monday, July 9th. Evercore ISI initiated coverage on shares of TEGNA in a research note on Tuesday, July 31st. They set an “in-line” rating and a $14.00 target price for the company. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $12.00 price target on shares of TEGNA in a research note on Tuesday, August 7th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. TEGNA currently has an average rating of “Hold” and a consensus price target of $14.50.

TEGNA stock traded up $0.08 during midday trading on Friday, hitting $11.88. 1,357,527 shares of the stock were exchanged, compared to its average volume of 1,566,002. TEGNA Inc. has a 52-week low of $10.00 and a 52-week high of $15.60. The stock has a market cap of $2.47 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 0.34 and a beta of 1.66. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.93 and a current ratio of 1.93.

TEGNA (NYSE:TGNA) last released its quarterly earnings results on Tuesday, August 7th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. TEGNA had a net margin of 25.33% and a return on equity of 27.72%. The business had revenue of $524.08 million for the quarter, compared to analysts’ expectations of $516.52 million. analysts predict that TEGNA Inc. will post 1.66 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 7th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Thursday, September 6th. TEGNA’s dividend payout ratio is 25.93%.

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.

See Also: Intrinsic Value and Stock Selection

Institutional Ownership by Quarter for TEGNA (NYSE:TGNA)

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