16,481 Shares in TEGNA Inc. (NYSE:TGNA) Acquired by Bridgefront Capital LLC

Bridgefront Capital LLC bought a new position in TEGNA Inc. (NYSE:TGNA) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 16,481 shares of the company’s stock, valued at approximately $301,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp purchased a new stake in TEGNA during the fourth quarter valued at approximately $27,000. Smartleaf Asset Management LLC raised its position in shares of TEGNA by 95.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company’s stock valued at $31,000 after purchasing an additional 832 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of TEGNA by 80.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company’s stock valued at $31,000 after acquiring an additional 749 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in TEGNA in the 4th quarter worth approximately $32,000. Finally, GAMMA Investing LLC boosted its position in shares of TEGNA by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock worth $37,000 after acquiring an additional 757 shares during the last quarter. Institutional investors own 92.19% of the company’s stock.

TEGNA Stock Up 0.1 %

Shares of NYSE:TGNA opened at $16.66 on Thursday. The business has a 50 day simple moving average of $17.06 and a two-hundred day simple moving average of $17.70. The firm has a market capitalization of $2.68 billion, a PE ratio of 5.89 and a beta of 0.31. 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 Inc. has a 1 year low of $12.35 and a 1 year high of $19.62.

TEGNA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Friday, March 7th. TEGNA’s payout ratio is presently 14.12%.

Analysts Set New Price Targets

TGNA has been the topic of a number of research reports. Guggenheim reduced their price objective on TEGNA from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Benchmark decreased their target price on shares of TEGNA from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday. StockNews.com cut TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Wells Fargo & Company lowered their price objective on TEGNA from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

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.