TEGNA Inc. (NYSE:TGNA) Shares Bought by Twin Focus Capital Partners LLC

Twin Focus Capital Partners LLC raised its position in TEGNA Inc. (NYSE:TGNA) by 32.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 20,054 shares of the company’s stock after buying an additional 4,875 shares during the quarter. Twin Focus Capital Partners LLC’s holdings in TEGNA were worth $307,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Muhlenkamp & Co. Inc. grew its stake in shares of TEGNA by 106.0% during the 3rd quarter. Muhlenkamp & Co. Inc. now owns 431,541 shares of the company’s stock worth $6,288,000 after purchasing an additional 222,103 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of TEGNA by 17.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,294,455 shares of the company’s stock worth $157,506,000 after purchasing an additional 1,501,986 shares during the period. Kodai Capital Management LP purchased a new stake in shares of TEGNA in the 4th quarter worth about $7,477,000. Gamco Investors INC. ET AL boosted its position in shares of TEGNA by 6.8% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,056,988 shares of the company’s stock worth $31,472,000 after buying an additional 130,960 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in shares of TEGNA in the 3rd quarter worth about $540,000. 92.19% of the stock is owned by institutional investors and hedge funds.

TEGNA Stock Down 2.4 %

NYSE:TGNA traded down $0.32 during trading hours on Friday, hitting $12.86. The stock had a trading volume of 2,383,064 shares, compared to its average volume of 1,578,262. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 1.10. TEGNA Inc. has a 1-year low of $12.73 and a 1-year high of $17.37. The business has a 50 day simple moving average of $14.20 and a two-hundred day simple moving average of $14.68. The company has a market cap of $2.18 billion, a PE ratio of 4.50 and a beta of 0.51.

TEGNA (NYSE:TGNA) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. TEGNA had a net margin of 19.48% and a return on equity of 11.86%. The company had revenue of $714.30 million during the quarter, compared to the consensus estimate of $718.86 million. During the same quarter last year, the company earned $0.47 earnings per share. TEGNA’s revenue for the quarter was down 3.5% on a year-over-year basis. Analysts predict that TEGNA Inc. will post 3.11 EPS for the current year.

TEGNA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.89%. This is an increase from TEGNA’s previous quarterly dividend of $0.11. TEGNA’s dividend payout ratio (DPR) is presently 17.48%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Benchmark decreased their price objective on shares of TEGNA from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. JPMorgan Chase & Co. reduced their target price on shares of TEGNA from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, March 1st.

Insider Transactions at TEGNA

In related news, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $13.99, for a total transaction of $349,750.00. Following the transaction, the chief operating officer now directly owns 190,474 shares in the company, valued at $2,664,731.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $13.99, for a total value of $349,750.00. Following the sale, the chief operating officer now directly owns 190,474 shares in the company, valued at $2,664,731.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Clifton A. Mcclelland III sold 54,093 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $15.78, for a total value of $853,587.54. Following the completion of the sale, the senior vice president now owns 42,602 shares in the company, valued at $672,259.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 155,656 shares of company stock valued at $2,339,970. 0.88% of the stock is currently owned by corporate insiders.

TEGNA 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.