PharVision Advisers LLC Buys New Stake in TEGNA Inc. (NYSE:TGNA)

PharVision Advisers LLC purchased a new stake in shares of TEGNA Inc. (NYSE:TGNA) during the 4th quarter, HoldingsChannel reports. The firm purchased 18,160 shares of the company’s stock, valued at approximately $332,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new stake in shares of TEGNA in the fourth quarter valued at approximately $27,000. Smartleaf Asset Management LLC lifted 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 buying an additional 832 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in TEGNA by 80.2% in the 4th 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 during the period. Aster Capital Management DIFC Ltd purchased a new stake in TEGNA in the 4th quarter worth $32,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of TEGNA in the fourth quarter worth approximately $57,000. Institutional investors and hedge funds own 92.19% of the company’s stock.

TEGNA Stock Down 3.3%

Shares of NYSE TGNA opened at $16.75 on Thursday. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. The business’s 50 day moving average is $17.00 and its two-hundred day moving average is $17.76. TEGNA Inc. has a 52-week low of $12.35 and a 52-week high of $19.62. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 5.92 and a beta of 0.31.

TEGNA (NYSE:TGNA) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. The business had revenue of $680.05 million during the quarter, compared to analysts’ expectations of $677.24 million. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The company’s revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share. Research analysts predict that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.99%. The ex-dividend date is Friday, June 6th. TEGNA’s dividend payout ratio is currently 17.61%.

Wall Street Analyst Weigh In

Several research firms recently commented on TGNA. Guggenheim increased their price objective on TEGNA from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. StockNews.com downgraded shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. lowered their price target on shares of TEGNA from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday. Benchmark cut their price objective on shares of TEGNA from $21.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Finally, Wells Fargo & Company lowered their target price on TEGNA from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, TEGNA currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

About TEGNA

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.