TEGNA Inc. (NYSE:TGNA) Shares Bought by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC lifted its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 38.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,901 shares of the company’s stock after purchasing an additional 5,553 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in TEGNA were worth $304,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. New York State Common Retirement Fund boosted its position in shares of TEGNA by 1.0% in the fourth quarter. New York State Common Retirement Fund now owns 108,212 shares of the company’s stock worth $1,656,000 after acquiring an additional 1,074 shares during the last quarter. Foster & Motley Inc. boosted its holdings in shares of TEGNA by 89.3% in the 4th quarter. Foster & Motley Inc. now owns 22,208 shares of the company’s stock valued at $340,000 after purchasing an additional 10,477 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of TEGNA by 437.5% in the 4th quarter. Signaturefd LLC now owns 9,686 shares of the company’s stock valued at $148,000 after purchasing an additional 7,884 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of TEGNA during the 4th quarter valued at $846,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of TEGNA by 30.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 75,314 shares of the company’s stock worth $1,152,000 after buying an additional 17,515 shares during the last quarter. Hedge funds and other institutional investors own 92.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Benchmark reduced their target price on TEGNA from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, March 1st. Wells Fargo & Company reduced their price objective on TEGNA from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, February 9th. Finally, JPMorgan Chase & Co. decreased their target price on TEGNA from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, March 1st.

Insider Activity at TEGNA

In other news, CEO David T. Lougee sold 43,750 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $14.70, for a total transaction of $643,125.00. Following the completion of the sale, the chief executive officer now directly owns 725,651 shares in the company, valued at $10,667,069.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other TEGNA news, CEO David T. Lougee sold 150,000 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $15.21, for a total transaction of $2,281,500.00. Following the completion of the transaction, the chief executive officer now directly owns 636,262 shares of the company’s stock, valued at approximately $9,677,545.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David T. Lougee sold 43,750 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $14.70, for a total transaction of $643,125.00. Following the completion of the sale, the chief executive officer now owns 725,651 shares in the company, valued at approximately $10,667,069.70. The disclosure for this sale can be found here. Company insiders own 0.88% of the company’s stock.

TEGNA Stock Down 0.8 %

Shares of TEGNA stock opened at $13.54 on Friday. TEGNA Inc. has a twelve month low of $13.18 and a twelve month high of $17.37. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 5.99 and a beta of 0.50. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.14. The company has a fifty day moving average price of $14.21 and a 200 day moving average price of $14.83.

TEGNA (NYSE:TGNA) last posted its earnings results on Thursday, February 29th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.04). The company had revenue of $725.80 million during the quarter, compared to analyst estimates of $750.78 million. TEGNA had a net margin of 16.38% and a return on equity of 12.41%. TEGNA’s quarterly revenue was down 20.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. Equities research analysts forecast that TEGNA Inc. will post 3 earnings per share for the current fiscal year.

TEGNA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a $0.114 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.46 annualized dividend and a dividend yield of 3.37%. TEGNA’s dividend payout ratio (DPR) is presently 20.35%.

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.