11,000 Shares in TEGNA Inc. (TGNA) Acquired by FNY Partners Fund LP
FNY Partners Fund LP purchased a new stake in shares of TEGNA Inc. (NYSE:TGNA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 11,000 shares of the company’s stock, valued at approximately $158,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in TGNA. Ameritas Investment Partners Inc. purchased a new stake in TEGNA during the 1st quarter valued at $131,000. ARS Investment Partners LLC purchased a new stake in TEGNA during the 1st quarter valued at $135,000. Synovus Financial Corp boosted its position in TEGNA by 4.4% during the 2nd quarter. Synovus Financial Corp now owns 10,304 shares of the company’s stock valued at $148,000 after buying an additional 438 shares during the period. Iberiabank Corp purchased a new stake in TEGNA during the 2nd quarter valued at $170,000. Finally, Cambridge Investment Research Advisors Inc. boosted its position in TEGNA by 4.1% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 12,599 shares of the company’s stock valued at $182,000 after buying an additional 499 shares during the period. 97.96% of the stock is owned by institutional investors and hedge funds.
TGNA has been the subject of several analyst reports. Noble Financial reissued a “buy” rating on shares of TEGNA in a research report on Thursday, July 13th. Benchmark Co. reissued a “buy” rating and set a $20.00 price target on shares of TEGNA in a research report on Friday, June 16th. ValuEngine raised shares of TEGNA from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. TheStreet cut shares of TEGNA from a “b” rating to a “c+” rating in a research report on Thursday, July 13th. Finally, BidaskClub cut shares of TEGNA from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $19.79.
TEGNA Inc. (NYSE:TGNA) traded down 0.24% during midday trading on Wednesday, hitting $12.31. 186,557 shares of the stock traded hands. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 15.05 and a beta of 1.76. The firm’s 50-day moving average is $13.28 and its 200-day moving average is $14.96. TEGNA Inc. has a 52-week low of $11.46 and a 52-week high of $17.06.
TEGNA (NYSE:TGNA) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. TEGNA had a net margin of 11.90% and a return on equity of 20.51%. The firm had revenue of $489.36 million for the quarter, compared to analysts’ expectations of $486.29 million. During the same period in the prior year, the business posted $0.50 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts predict that TEGNA Inc. will post $1.09 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Thursday, September 7th. TEGNA’s dividend payout ratio (DPR) is presently 16.97%.
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Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
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