TEGNA Inc. (NYSE:TGNA) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of TEGNA Inc. (NYSE:TGNA) have been given a consensus recommendation of “Hold” by the six research firms that are covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $19.75.

TGNA has been the topic of several analyst reports. Zacks Research raised shares of TEGNA from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Weiss Ratings reissued a “hold (c)” rating on shares of TEGNA in a research report on Monday, December 29th.

TEGNA Trading Down 0.4%

Shares of NYSE:TGNA opened at $20.97 on Monday. TEGNA has a one year low of $14.87 and a one year high of $21.35. The stock has a market capitalization of $3.38 billion, a PE ratio of 9.89 and a beta of 0.12. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.22 and a quick ratio of 2.22. The company’s 50-day moving average price is $19.64 and its two-hundred day moving average price is $20.02.

TEGNA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 10th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, March 10th. TEGNA’s payout ratio is 23.58%.

Hedge Funds Weigh In On TEGNA

Hedge funds have recently bought and sold shares of the company. Amundi lifted its position in TEGNA by 1,507.5% during the 1st quarter. Amundi now owns 4,067 shares of the company’s stock valued at $74,000 after acquiring an additional 3,814 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of TEGNA by 1.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,968 shares of the company’s stock valued at $1,749,000 after purchasing an additional 1,726 shares in the last quarter. United Services Automobile Association purchased a new position in shares of TEGNA during the first quarter valued at approximately $183,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of TEGNA by 4.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 539,881 shares of the company’s stock worth $9,837,000 after purchasing an additional 21,303 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in shares of TEGNA by 193.0% in the 1st quarter. Jane Street Group LLC now owns 573,255 shares of the company’s stock worth $10,445,000 after buying an additional 377,578 shares during the last quarter. 92.19% of the stock is owned by hedge funds and other institutional investors.

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.