13,019 Shares in TEGNA Inc. (NYSE:TGNA) Acquired by AXQ Capital LP

AXQ Capital LP bought a new position in shares of TEGNA Inc. (NYSE:TGNA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,019 shares of the company’s stock, valued at approximately $238,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp acquired a new stake in TEGNA during the 4th quarter worth approximately $27,000. Smartleaf Asset Management LLC grew its position in TEGNA by 95.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company’s stock valued at $31,000 after acquiring an additional 832 shares in the last quarter. GAMMA Investing LLC grew its position in TEGNA by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock valued at $37,000 after acquiring an additional 757 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in TEGNA in the fourth quarter valued at approximately $57,000. Finally, Quarry LP grew its position 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 acquiring an additional 3,300 shares in the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.

TEGNA Stock Down 1.4 %

TGNA stock opened at $18.53 on Monday. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $19.62. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $2.96 billion, a P/E ratio of 6.55 and a beta of 0.45. The firm has a 50 day simple moving average of $17.99 and a 200-day simple moving average of $17.38.

TEGNA Announces Dividend

The business also recently declared 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. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, March 7th. TEGNA’s payout ratio is currently 14.12%.

Analyst Upgrades and Downgrades

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

About TEGNA

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.