TEGNA Inc. (NYSE:TGNA) Shares Sold by Clark Estates Inc. NY

Clark Estates Inc. NY reduced its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 7.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 180,350 shares of the company’s stock after selling 14,500 shares during the quarter. Clark Estates Inc. NY’s holdings in TEGNA were worth $2,846,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Harbor Capital Advisors Inc. purchased a new stake in TEGNA in the third quarter valued at $28,000. Headlands Technologies LLC lifted its stake in TEGNA by 48.2% in the second quarter. Headlands Technologies LLC now owns 4,520 shares of the company’s stock valued at $63,000 after buying an additional 1,470 shares during the last quarter. CWM LLC boosted its holdings in shares of TEGNA by 146.3% in the second quarter. CWM LLC now owns 4,614 shares of the company’s stock valued at $64,000 after acquiring an additional 2,741 shares during the period. Blue Trust Inc. boosted its holdings in shares of TEGNA by 247.8% in the second quarter. Blue Trust Inc. now owns 4,702 shares of the company’s stock valued at $70,000 after acquiring an additional 3,350 shares during the period. Finally, US Bancorp DE increased its holdings in shares of TEGNA by 20.4% in the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company’s stock valued at $71,000 after acquiring an additional 764 shares during the period. Hedge funds and other institutional investors own 92.19% of the company’s stock.

Insider Buying and Selling at TEGNA

In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $16.40, for a total transaction of $410,000.00. Following the completion of the transaction, the chief operating officer now directly owns 154,617 shares of the company’s stock, valued at $2,535,718.80. The trade was a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.88% of the stock is owned by insiders.

TEGNA Stock Performance

TEGNA stock opened at $18.91 on Wednesday. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 6.68 and a beta of 0.49. TEGNA Inc. has a 12 month low of $12.35 and a 12 month high of $19.62. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60. The stock’s 50-day moving average is $16.55 and its 200-day moving average is $15.12.

TEGNA (NYSE:TGNA) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The company had revenue of $806.83 million for the quarter, compared to analysts’ expectations of $795.72 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. Equities analysts anticipate that TEGNA Inc. will post 3.02 earnings per share for the current year.

TEGNA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, December 6th. TEGNA’s dividend payout ratio (DPR) is 17.67%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TGNA. StockNews.com cut shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. lifted their price objective on TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Finally, Benchmark increased their target price on TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, November 8th.

TEGNA Company 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.