TEGNA Inc. (NYSE:TGNA) Short Interest Update

TEGNA Inc. (NYSE:TGNA) was the recipient of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 9,544,684 shares, a growth of 16.9% from the February 12th total of 8,167,111 shares. Currently, 5.9% of the shares of the company are short sold. Based on an average daily trading volume, of 1,533,016 shares, the short-interest ratio is presently 6.2 days. Based on an average daily trading volume, of 1,533,016 shares, the short-interest ratio is presently 6.2 days. Currently, 5.9% of the shares of the company are short sold.

Hedge Funds Weigh In On TEGNA

A number of institutional investors have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. grew its position in TEGNA by 33.6% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 317,500 shares of the company’s stock worth $5,321,000 after acquiring an additional 79,900 shares during the last quarter. New York Life Investment Management LLC bought a new position in TEGNA in the third quarter valued at about $6,936,000. Neuberger Berman Group LLC boosted its stake in shares of TEGNA by 60.4% during the second quarter. Neuberger Berman Group LLC now owns 37,414 shares of the company’s stock valued at $627,000 after purchasing an additional 14,094 shares in the last quarter. Brandywine Global Investment Management LLC boosted its stake in shares of TEGNA by 20.5% during the second quarter. Brandywine Global Investment Management LLC now owns 702,453 shares of the company’s stock valued at $11,773,000 after purchasing an additional 119,690 shares in the last quarter. Finally, Lee Danner & Bass Inc. grew its holdings in shares of TEGNA by 25.7% during the third quarter. Lee Danner & Bass Inc. now owns 334,815 shares of the company’s stock worth $6,807,000 after purchasing an additional 68,520 shares during the last quarter. 92.19% of the stock is currently owned by institutional investors and hedge funds.

TEGNA Price Performance

TGNA stock opened at $20.29 on Thursday. The company’s 50-day moving average price is $19.97 and its two-hundred day moving average price is $19.99. The firm has a market cap of $3.29 billion, a P/E ratio of 15.03 and a beta of 0.12. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.80. TEGNA has a 12 month low of $14.87 and a 12 month high of $21.35.

TEGNA (NYSE:TGNA) last issued its quarterly earnings results on Monday, March 2nd. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. The company had revenue of $706.11 million during the quarter, compared to the consensus estimate of $701.29 million. TEGNA had a net margin of 8.11% and a return on equity of 8.60%. During the same quarter in the prior year, the firm posted $1.21 EPS. The firm’s quarterly revenue was down 18.9% on a year-over-year basis. On average, analysts anticipate that TEGNA will post 3.02 earnings per share for the current fiscal year.

TEGNA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 10th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, March 10th. TEGNA’s dividend payout ratio (DPR) is presently 37.04%.

Analysts Set New Price Targets

A number of equities analysts recently commented on TGNA shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TEGNA in a research report on Monday, December 29th. Zacks Research upgraded shares of TEGNA from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, TEGNA presently has an average rating of “Hold” and a consensus 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.