TEGNA Inc. $TGNA is Magnetar Financial LLC’s 10th Largest Position

Magnetar Financial LLC increased its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 6,587.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,140,181 shares of the company’s stock after buying an additional 4,078,275 shares during the quarter. TEGNA comprises approximately 0.5% of Magnetar Financial LLC’s portfolio, making the stock its 10th biggest holding. Magnetar Financial LLC owned approximately 2.57% of TEGNA worth $84,170,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in TEGNA by 13.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,480 shares of the company’s stock valued at $91,000 after buying an additional 517 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of TEGNA by 12.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,810 shares of the company’s stock worth $118,000 after acquiring an additional 653 shares during the period. Arizona State Retirement System boosted its position in shares of TEGNA by 1.4% in the third quarter. Arizona State Retirement System now owns 47,560 shares of the company’s stock worth $967,000 after acquiring an additional 657 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of TEGNA by 12.6% in the second quarter. Parkside Financial Bank & Trust now owns 6,295 shares of the company’s stock worth $106,000 after acquiring an additional 706 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in TEGNA by 2.3% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 36,978 shares of the company’s stock valued at $620,000 after purchasing an additional 838 shares during the period. 92.19% of the stock is owned by institutional investors and hedge funds.

TEGNA Stock Performance

TEGNA stock opened at $20.77 on Wednesday. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 15.38 and a beta of 0.12. TEGNA Inc. has a 12 month low of $14.87 and a 12 month high of $21.35. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.28 and a quick ratio of 2.28. The stock’s 50-day moving average is $19.85 and its 200-day moving average is $20.02.

TEGNA (NYSE:TGNA) last issued its earnings results on Monday, March 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. The business had revenue of $706.11 million during the quarter, compared to analysts’ expectations of $701.29 million. TEGNA had a return on equity of 8.60% and a net margin of 8.11%.The company’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.21 EPS. Equities analysts anticipate that TEGNA Inc. will post 3.02 earnings per share for the current year.

TEGNA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 10th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, March 10th. TEGNA’s payout ratio is currently 37.04%.

Analyst Ratings Changes

Several brokerages recently commented on TGNA. Zacks Research raised shares of TEGNA from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of TEGNA in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $19.75.

About TEGNA

TEGNA Inc is a leading U.S. broadcast and digital media company that was formed as a spin-off from Gannett Co, Inc in June 2015. The company’s primary operations include the ownership and operation of local television stations, digital publishing platforms and marketing solutions designed to serve both national advertisers and local businesses. Through its portfolio of media assets, TEGNA delivers news, information and entertainment across multiple platforms, including over-the-air broadcasts, cable and satellite distribution, streaming services and proprietary websites and mobile apps.

TEGNA owns and operates approximately 60 television stations in 51 markets, reaching nearly 40 percent of U.S.