Gotham Asset Management LLC Boosts Stock Position in TEGNA Inc. (NYSE:TGNA)

Gotham Asset Management LLC raised its position in shares of TEGNA Inc. (NYSE:TGNA) by 352.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,739 shares of the company’s stock after purchasing an additional 44,974 shares during the quarter. Gotham Asset Management LLC’s holdings in TEGNA were worth $1,056,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of TEGNA by 26.2% in the third quarter. Principal Financial Group Inc. now owns 891,488 shares of the company’s stock worth $14,068,000 after buying an additional 184,845 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in shares of TEGNA in the fourth quarter worth about $57,000. Linden Thomas Advisory Services LLC boosted its stake in shares of TEGNA by 16.2% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 63,641 shares of the company’s stock worth $1,164,000 after buying an additional 8,855 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of TEGNA by 13.6% in the fourth quarter. Blue Trust Inc. now owns 25,155 shares of the company’s stock worth $460,000 after buying an additional 3,014 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of TEGNA by 35.5% in the fourth quarter. KBC Group NV now owns 7,713 shares of the company’s stock worth $141,000 after buying an additional 2,019 shares during the last quarter. Hedge funds and other institutional investors own 92.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Benchmark lowered their target price on TEGNA from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. StockNews.com downgraded TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Guggenheim upped their target price on TEGNA from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company reduced their price target on TEGNA from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, TEGNA has an average rating of “Moderate Buy” and an average target price of $20.50.

TEGNA Stock Performance

NYSE TGNA opened at $17.27 on Friday. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 6.10 and a beta of 0.31. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $19.62. 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 50-day moving average of $17.02 and a 200 day moving average of $17.76.

TEGNA (NYSE:TGNA) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. The company 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%. TEGNA’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 EPS. Sell-side analysts anticipate that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

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.