Xponance Inc. Increases Stock Position in TEGNA Inc. (NYSE:TGNA)

Xponance Inc. raised its stake in shares of TEGNA Inc. (NYSE:TGNA) by 15.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,840 shares of the company’s stock after acquiring an additional 1,720 shares during the period. Xponance Inc.’s holdings in TEGNA were worth $235,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Jones Financial Companies Lllp purchased a new position in TEGNA during the 4th quarter valued at about $27,000. Smartleaf Asset Management LLC grew its stake in shares of TEGNA by 95.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company’s stock worth $31,000 after acquiring an additional 832 shares in the last quarter. GAMMA Investing LLC increased its position in shares of TEGNA by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock worth $37,000 after acquiring an additional 757 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of TEGNA in the fourth quarter valued at $57,000. Finally, Quarry LP boosted its holdings in TEGNA by 455.2% in the third quarter. Quarry LP now owns 4,025 shares of the company’s stock valued at $64,000 after purchasing an additional 3,300 shares during the period. 92.19% of the stock is owned by hedge funds and other institutional investors.

TEGNA Price Performance

TGNA stock opened at $18.10 on Friday. The business has a 50 day moving average price of $18.03 and a 200 day moving average price of $17.50. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 6.39 and a beta of 0.45. TEGNA Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $19.62.

TEGNA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.76%. TEGNA’s dividend payout ratio is presently 14.12%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TGNA shares. Wells Fargo & Company raised TEGNA from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $21.00 to $23.00 in a research report on Thursday, December 19th. StockNews.com downgraded shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Guggenheim restated a “buy” rating and issued a $22.00 price objective on shares of TEGNA in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.75.

TEGNA 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.