TEGNA Inc. (NYSE:TGNA) Position Boosted by Sanctuary Advisors LLC

Sanctuary Advisors LLC raised its position in shares of TEGNA Inc. (NYSE:TGNA) by 16.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,965 shares of the company’s stock after buying an additional 2,971 shares during the quarter. Sanctuary Advisors LLC’s holdings in TEGNA were worth $385,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new stake in shares of TEGNA in the third quarter worth approximately $28,000. GAMMA Investing LLC grew its stake in shares of TEGNA by 59.0% in 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 last quarter. Sound Income Strategies LLC acquired a new stake in shares of TEGNA in the fourth quarter worth $57,000. Quarry LP grew its stake in shares of TEGNA by 455.2% in the third quarter. Quarry LP now owns 4,025 shares of the company’s stock worth $64,000 after acquiring an additional 3,300 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of TEGNA by 20.4% in the third quarter. US Bancorp DE now owns 4,503 shares of the company’s stock worth $71,000 after acquiring an additional 764 shares during the last quarter. 92.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on TGNA. Wells Fargo & Company upgraded shares of TEGNA from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $21.00 to $23.00 in a research note on Thursday, December 19th. Guggenheim reiterated a “buy” rating and set a $22.00 price target on shares of TEGNA in a research report on Friday, January 24th. StockNews.com downgraded shares of TEGNA from a “buy” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. upped their target price on shares of TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Finally, Benchmark upped their price target on TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.75.

TEGNA Stock Performance

Shares of TGNA stock opened at $17.75 on Tuesday. The business’s 50-day moving average price is $18.15 and its 200-day moving average price is $16.96. TEGNA Inc. has a 12 month low of $12.35 and a 12 month high of $19.62. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 6.27 and a beta of 0.52. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07.

TEGNA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be issued a $0.125 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.82%. TEGNA’s payout ratio is currently 17.67%.

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.