Bryce Point Capital LLC Acquires New Holdings in TEGNA Inc. (NYSE:TGNA)

Bryce Point Capital LLC bought a new position in TEGNA Inc. (NYSE:TGNA) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 24,797 shares of the company’s stock, valued at approximately $454,000.

Several other large investors also recently made changes to their positions in TGNA. Jones Financial Companies Lllp bought a new position in TEGNA in the 4th quarter worth approximately $27,000. Smartleaf Asset Management LLC boosted its position in TEGNA by 95.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company’s stock worth $31,000 after acquiring an additional 832 shares during the period. 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 purchasing an additional 757 shares in the last quarter. Sound Income Strategies LLC acquired a new position in shares of TEGNA during the fourth quarter valued at $57,000. Finally, Quarry LP raised its stake in shares of TEGNA by 455.2% during 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 in the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.

Analyst Upgrades and Downgrades

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

TEGNA Price Performance

Shares of NYSE TGNA opened at $16.02 on Friday. 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 firm has a 50-day moving average of $18.01 and a two-hundred day moving average of $17.62. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 5.66 and a beta of 0.25.

TEGNA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend was Friday, March 7th. TEGNA’s payout ratio is 14.12%.

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.