AlphaQuest LLC Sells 76,366 Shares of TEGNA Inc. $TGNA

AlphaQuest LLC decreased its stake in TEGNA Inc. (NYSE:TGNA) by 83.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,294 shares of the company’s stock after selling 76,366 shares during the period. AlphaQuest LLC’s holdings in TEGNA were worth $311,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Arizona State Retirement System raised its holdings in shares of TEGNA by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 47,560 shares of the company’s stock worth $967,000 after purchasing an additional 657 shares during the period. Federated Hermes Inc. lifted its position in shares of TEGNA by 85.4% during the 3rd quarter. Federated Hermes Inc. now owns 1,852 shares of the company’s stock valued at $38,000 after buying an additional 853 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of TEGNA by 13.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 31,810 shares of the company’s stock valued at $647,000 after buying an additional 3,858 shares during the last quarter. Y Intercept Hong Kong Ltd grew its stake in shares of TEGNA by 2.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 79,815 shares of the company’s stock worth $1,623,000 after acquiring an additional 1,834 shares during the period. Finally, Strs Ohio increased its holdings in TEGNA by 108.1% in the 3rd quarter. Strs Ohio now owns 53,900 shares of the company’s stock worth $1,096,000 after acquiring an additional 28,000 shares during the last quarter. 92.19% of the stock is owned by institutional investors.

TEGNA Price Performance

Shares of NYSE:TGNA opened at $19.08 on Monday. The company has a 50 day moving average of $19.22 and a 200 day moving average of $19.62. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.81. The stock has a market cap of $3.07 billion, a P/E ratio of 9.00 and a beta of 0.15. TEGNA Inc. has a 12 month low of $14.87 and a 12 month high of $21.35.

TEGNA (NYSE:TGNA) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). The firm had revenue of $650.79 million during the quarter, compared to the consensus estimate of $658.28 million. TEGNA had a net margin of 11.97% and a return on equity of 12.50%. The firm’s revenue for the quarter was down 19.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.94 earnings per share. As a group, sell-side analysts forecast that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 5th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, December 5th. TEGNA’s payout ratio is presently 23.58%.

Analyst Ratings Changes

A number of equities analysts have weighed in on TGNA shares. Weiss Ratings reiterated a “hold (c)” rating on shares of TEGNA in a research report on Monday, December 29th. Zacks Research raised shares of TEGNA from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Wells Fargo & Company cut shares of TEGNA from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, TEGNA presently has a consensus rating of “Hold” and an average target price of $19.75.

About TEGNA

TEGNA Inc is a leading U.S. broadcast and digital media company that was formed as a spin-off from Gannett Co, Inc in June 2015. The company’s primary operations include the ownership and operation of local television stations, digital publishing platforms and marketing solutions designed to serve both national advertisers and local businesses. Through its portfolio of media assets, TEGNA delivers news, information and entertainment across multiple platforms, including over-the-air broadcasts, cable and satellite distribution, streaming services and proprietary websites and mobile apps.

TEGNA owns and operates approximately 60 television stations in 51 markets, reaching nearly 40 percent of U.S.