Prelude Capital Management LLC Has $3.79 Million Stake in TEGNA Inc. (NYSE:TGNA)

Prelude Capital Management LLC increased its holdings in shares of TEGNA Inc. (NYSE:TGNAGet Rating) by 1,406.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 169,061 shares of the company’s stock after acquiring an additional 157,838 shares during the period. Prelude Capital Management LLC’s holdings in TEGNA were worth $3,787,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Prospera Financial Services Inc acquired a new position in TEGNA during the first quarter worth $29,000. Steward Financial Group LLC acquired a new position in TEGNA during the first quarter worth $33,000. Covestor Ltd acquired a new position in TEGNA during the fourth quarter worth $34,000. UMB Bank N A MO acquired a new position in TEGNA during the fourth quarter worth $39,000. Finally, Atlas Capital Advisors LLC raised its position in TEGNA by 149.4% during the first quarter. Atlas Capital Advisors LLC now owns 2,494 shares of the company’s stock worth $56,000 after acquiring an additional 1,494 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Huber Research raised shares of TEGNA from an “underweight” rating to an “overweight” rating in a research report on Monday, June 6th. StockNews.com raised shares of TEGNA from a “hold” rating to a “buy” rating in a research report on Tuesday, August 9th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.50.

TEGNA Stock Performance

NYSE TGNA opened at $21.73 on Friday. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 1.12. The firm’s fifty day moving average price is $21.07 and its two-hundred day moving average price is $21.59. TEGNA Inc. has a 1 year low of $16.42 and a 1 year high of $23.04. The firm has a market capitalization of $4.85 billion, a P/E ratio of 9.25 and a beta of 0.78.

TEGNA (NYSE:TGNAGet Rating) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. The company had revenue of $784.90 million for the quarter, compared to analyst estimates of $800.78 million. TEGNA had a net margin of 16.94% and a return on equity of 20.18%. The company’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 earnings per share. As a group, research analysts anticipate that TEGNA Inc. will post 3 EPS for the current year.

TEGNA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be given a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Thursday, September 8th. TEGNA’s payout ratio is presently 16.17%.

TEGNA Profile

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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.

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Institutional Ownership by Quarter for TEGNA (NYSE:TGNA)

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