Capital Management Corp VA Sells 829,325 Shares of TEGNA Inc. $TGNA

Capital Management Corp VA lessened its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 90.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,495 shares of the company’s stock after selling 829,325 shares during the period. Capital Management Corp VA’s holdings in TEGNA were worth $1,860,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TGNA. Geode Capital Management LLC increased its stake in shares of TEGNA by 1.7% during the second quarter. Geode Capital Management LLC now owns 5,008,137 shares of the company’s stock valued at $83,944,000 after buying an additional 82,140 shares during the period. Wasatch Advisors LP increased its position in TEGNA by 5,517.6% during the 2nd quarter. Wasatch Advisors LP now owns 3,242,220 shares of the company’s stock valued at $54,340,000 after purchasing an additional 3,184,505 shares during the period. Gamco Investors INC. ET AL increased its position in TEGNA by 3.1% during the 2nd quarter. Gamco Investors INC. ET AL now owns 2,410,528 shares of the company’s stock valued at $40,400,000 after purchasing an additional 72,339 shares during the period. Boston Partners raised its holdings in TEGNA by 1.3% in the 2nd quarter. Boston Partners now owns 2,399,319 shares of the company’s stock worth $40,050,000 after purchasing an additional 30,229 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in shares of TEGNA by 0.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 1,370,774 shares of the company’s stock worth $22,974,000 after purchasing an additional 12,732 shares during the period. Hedge funds and other institutional investors own 92.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TGNA. Zacks Research upgraded shares of TEGNA from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TEGNA in a research report on Monday, December 29th. Finally, Wells Fargo & Company downgraded TEGNA from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 23rd. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.75.

TEGNA Trading Up 1.4%

Shares of NYSE TGNA opened at $19.15 on Friday. TEGNA Inc. has a 1 year low of $14.87 and a 1 year high of $21.35. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.22 and a quick ratio of 2.22. The firm has a 50-day moving average of $19.27 and a 200 day moving average of $19.53. The stock has a market cap of $3.08 billion, a P/E ratio of 9.03 and a beta of 0.13.

TEGNA (NYSE:TGNA) last announced its earnings results on Monday, November 10th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). TEGNA had a net margin of 11.97% and a return on equity of 12.50%. The business had revenue of $650.79 million for the quarter, compared to the consensus estimate of $658.28 million. During the same period in the prior year, the business posted $0.94 EPS. TEGNA’s revenue for the quarter was down 19.3% on a year-over-year basis. As a group, sell-side analysts expect that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, December 5th were paid a dividend of $0.125 per share. The ex-dividend date was Friday, December 5th. This represents a $0.50 dividend on an annualized basis and a yield of 2.6%. TEGNA’s payout ratio is presently 23.58%.

TEGNA Company Profile

TEGNA Inc is a leading U.S. broadcast and digital media company that was formed as a spin-off from Gannett Co, Inc in June 2015. The company’s primary operations include the ownership and operation of local television stations, digital publishing platforms and marketing solutions designed to serve both national advertisers and local businesses. Through its portfolio of media assets, TEGNA delivers news, information and entertainment across multiple platforms, including over-the-air broadcasts, cable and satellite distribution, streaming services and proprietary websites and mobile apps.

TEGNA owns and operates approximately 60 television stations in 51 markets, reaching nearly 40 percent of U.S.