Guidance Capital Inc. Acquires New Holdings in TEGNA Inc. (NYSE:TGNA)

Guidance Capital Inc. bought a new stake in shares of TEGNA Inc. (NYSE:TGNA) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 26,128 shares of the company’s stock, valued at approximately $476,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in TEGNA by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock valued at $37,000 after purchasing an additional 757 shares during the period. US Bancorp DE lifted its position in shares of TEGNA by 20.4% in the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company’s stock worth $71,000 after acquiring an additional 764 shares during the period. Sanctuary Advisors LLC lifted its position in shares of TEGNA by 7.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 17,994 shares of the company’s stock worth $284,000 after acquiring an additional 1,239 shares during the period. Covestor Ltd lifted its position in shares of TEGNA by 20.8% in the 3rd quarter. Covestor Ltd now owns 8,852 shares of the company’s stock worth $140,000 after acquiring an additional 1,525 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of TEGNA in the 3rd quarter worth approximately $28,000. Institutional investors own 92.19% of the company’s stock.

TEGNA Stock Performance

NYSE:TGNA opened at $18.34 on Thursday. TEGNA Inc. has a 1 year low of $12.35 and a 1 year high of $19.62. The firm has a 50 day moving average of $18.36 and a 200-day moving average of $16.59. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $2.96 billion, a P/E ratio of 6.48 and a beta of 0.52.

TEGNA (NYSE:TGNA) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.83 by $0.11. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The business had revenue of $806.83 million for the quarter, compared to analysts’ expectations of $795.72 million. During the same period in the prior year, the firm earned $0.39 earnings per share. TEGNA’s revenue was up 13.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.50 annualized dividend and a dividend yield of 2.73%. TEGNA’s dividend payout ratio (DPR) is currently 17.67%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Guggenheim reiterated a “buy” rating and issued a $22.00 price objective on shares of TEGNA in a research report on Friday, January 24th. Wells Fargo & Company upgraded TEGNA from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $21.00 to $23.00 in a research report on Thursday, December 19th. StockNews.com upgraded TEGNA from a “hold” rating to a “buy” rating in a research report on Friday, December 13th. Benchmark raised their price objective on TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their price objective on TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.75.

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.