Dynamic Technology Lab Private Ltd Has $459,000 Position in TEGNA Inc. (NYSE:TGNA)

Dynamic Technology Lab Private Ltd lifted its stake in shares of TEGNA Inc. (NYSE:TGNA) by 64.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,581 shares of the company’s stock after buying an additional 12,719 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in TEGNA were worth $459,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of TEGNA by 1.5% during the 1st quarter. BlackRock Inc. now owns 25,806,084 shares of the company’s stock valued at $363,866,000 after purchasing an additional 379,594 shares during the period. LSV Asset Management raised its stake in shares of TEGNA by 15.9% during the 1st quarter. LSV Asset Management now owns 6,267,061 shares of the company’s stock valued at $88,365,000 after purchasing an additional 861,509 shares during the period. Northern Trust Corp raised its stake in shares of TEGNA by 24.4% during the 4th quarter. Northern Trust Corp now owns 5,353,589 shares of the company’s stock valued at $58,194,000 after purchasing an additional 1,050,702 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of TEGNA by 4.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,104,510 shares of the company’s stock valued at $71,974,000 after purchasing an additional 209,070 shares during the period. Finally, Norges Bank bought a new stake in shares of TEGNA during the 4th quarter valued at $45,100,000. 97.42% of the stock is currently owned by institutional investors.

TGNA opened at $14.81 on Thursday. TEGNA Inc. has a 12-month low of $10.24 and a 12-month high of $16.57. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market capitalization of $3.35 billion, a PE ratio of 8.09, a PEG ratio of 1.23 and a beta of 1.53.

TEGNA (NYSE:TGNA) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. TEGNA had a return on equity of 30.61% and a net margin of 18.91%. The firm had revenue of $516.80 million during the quarter, compared to analysts’ expectations of $512.45 million. During the same period in the prior year, the business earned $0.33 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities research analysts expect that TEGNA Inc. will post 1.26 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Thursday, June 6th. TEGNA’s payout ratio is currently 15.30%.

A number of analysts recently issued reports on TGNA shares. Noble Financial reiterated a “buy” rating and set a $14.50 price objective on shares of TEGNA in a research note on Thursday, February 28th. Zacks Investment Research lowered TEGNA from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. ValuEngine upgraded TEGNA from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 28th. Barrington Research reiterated a “buy” rating and set a $17.00 price objective on shares of TEGNA in a research note on Friday, March 1st. Finally, Evercore ISI upgraded TEGNA from an “in-line” rating to an “outperform” rating in a research note on Monday, March 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. TEGNA has a consensus rating of “Hold” and a consensus target price of $15.63.

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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.

Further Reading: Return On Assets

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Institutional Ownership by Quarter for TEGNA (NYSE:TGNA)

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