PEAK6 Investments L.P. raised its holdings in shares of Tegna Inc (NYSE:TGNA) by 917.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,340 shares of the company’s stock after acquiring an additional 37,421 shares during the quarter. PEAK6 Investments L.P.’s holdings in Tegna were worth $469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Cerebellum GP LLC bought a new position in shares of Tegna in the fourth quarter worth $104,000. Point72 Asset Management L.P. bought a new position in shares of Tegna in the third quarter worth $110,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Tegna in the fourth quarter worth $129,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Tegna by 523.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,337 shares of the company’s stock worth $138,000 after purchasing an additional 8,678 shares during the period. Finally, Conning Inc. bought a new position in shares of Tegna in the fourth quarter worth $147,000. 99.91% of the stock is currently owned by hedge funds and other institutional investors.
NYSE TGNA traded down $0.12 during trading on Friday, hitting $10.96. 1,881,241 shares of the company’s stock traded hands, compared to its average volume of 2,263,191. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 3.02. Tegna Inc has a 12-month low of $10.46 and a 12-month high of $16.83. The firm has a market cap of $2,388.88, a price-to-earnings ratio of 10.15, a PEG ratio of 5.32 and a beta of 1.57.
Tegna (NYSE:TGNA) last posted its quarterly earnings results on Thursday, March 1st. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. Tegna had a net margin of 20.74% and a return on equity of 19.56%. The business had revenue of $480.45 million during the quarter, compared to analyst estimates of $491.79 million. During the same period in the prior year, the business posted $0.74 earnings per share. The company’s revenue was up 9.2% on a year-over-year basis. equities analysts expect that Tegna Inc will post 1.69 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Friday, March 9th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, March 8th. This represents a $0.28 annualized dividend and a yield of 2.55%. Tegna’s payout ratio is 25.93%.
TGNA has been the topic of several research analyst reports. Zacks Investment Research raised shares of Tegna from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Tuesday, March 6th. Noble Financial reiterated a “buy” rating on shares of Tegna in a research report on Tuesday, December 19th. Benchmark reiterated a “buy” rating and issued a $19.00 target price on shares of Tegna in a research report on Thursday, February 22nd. ValuEngine lowered shares of Tegna from a “buy” rating to a “hold” rating in a research report on Thursday, March 1st. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $14.00 target price on shares of Tegna in a research report on Tuesday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $15.67.
In other Tegna news, COO Lynn B. Trelstad sold 3,112 shares of the company’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $12.85, for a total transaction of $39,989.20. Following the completion of the sale, the chief operating officer now directly owns 24,152 shares in the company, valued at $310,353.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Neal Shapiro sold 12,385 shares of the company’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $12.57, for a total transaction of $155,679.45. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.
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Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
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