TEGNA Inc. (NYSE:TGNA) COO Sells $347,000.00 in Stock

TEGNA Inc. (NYSE:TGNA) COO Lynn B. Trelstad sold 25,000 shares of TEGNA stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $13.88, for a total transaction of $347,000.00. Following the completion of the transaction, the chief operating officer now owns 179,617 shares of the company’s stock, valued at approximately $2,493,083.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

TEGNA Stock Up 1.1 %

NYSE:TGNA traded up $0.16 during midday trading on Monday, hitting $14.45. 1,878,329 shares of the company were exchanged, compared to its average volume of 2,118,674. TEGNA Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $16.56. The company has a market capitalization of $2.39 billion, a PE ratio of 5.05 and a beta of 0.49. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.10. The company has a fifty day simple moving average of $14.52 and a 200 day simple moving average of $14.29.

TEGNA (NYSE:TGNA) last posted its earnings results on Wednesday, August 7th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $710.36 million for the quarter, compared to analysts’ expectations of $715.40 million. TEGNA had a return on equity of 11.57% and a net margin of 15.51%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 earnings per share. As a group, equities analysts anticipate that TEGNA Inc. will post 3.07 earnings per share for the current fiscal year.

TEGNA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a $0.125 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.50 annualized dividend and a yield of 3.46%. TEGNA’s dividend payout ratio (DPR) is 17.48%.

Hedge Funds Weigh In On TEGNA

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its holdings in TEGNA by 142.1% in the 4th quarter. Parallel Advisors LLC now owns 1,675 shares of the company’s stock valued at $26,000 after purchasing an additional 983 shares in the last quarter. CWM LLC grew its holdings in TEGNA by 389.0% during the first quarter. CWM LLC now owns 1,873 shares of the company’s stock worth $28,000 after acquiring an additional 1,490 shares during the period. Fidelis Capital Partners LLC purchased a new position in TEGNA in the first quarter worth $28,000. Headlands Technologies LLC purchased a new stake in shares of TEGNA during the 1st quarter worth $46,000. Finally, Blue Trust Inc. boosted its position in shares of TEGNA by 247.8% during the 2nd quarter. Blue Trust Inc. now owns 4,702 shares of the company’s stock worth $70,000 after purchasing an additional 3,350 shares in the last quarter. Hedge funds and other institutional investors own 92.19% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Benchmark reissued a “buy” rating and set a $21.00 target price on shares of TEGNA in a research report on Thursday, August 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.