TEGNA Inc. (NYSE:TGNA) CEO David T. Lougee Sells 98,437 Shares

TEGNA Inc. (NYSE:TGNA) CEO David T. Lougee sold 98,437 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $13.98, for a total value of $1,376,149.26. Following the sale, the chief executive officer now directly owns 594,401 shares in the company, valued at approximately $8,309,725.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

TEGNA Stock Performance

NYSE TGNA opened at $14.00 on Friday. The business’s 50-day moving average price is $14.15 and its 200 day moving average price is $14.52. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $17.37. The company has a market capitalization of $2.37 billion, a PE ratio of 4.90 and a beta of 0.51. 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 (NYSE:TGNA) last released its earnings results on Wednesday, May 8th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. TEGNA had a return on equity of 11.86% and a net margin of 19.48%. The firm had revenue of $714.30 million for the quarter, compared to the consensus estimate of $718.86 million. During the same period in the prior year, the business posted $0.47 earnings per share. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, research analysts predict that TEGNA Inc. will post 3.11 earnings per share for the current year.

TEGNA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, June 7th. This is an increase from TEGNA’s previous quarterly dividend of $0.11. This represents a $0.50 annualized dividend and a yield of 3.57%. TEGNA’s dividend payout ratio is 17.48%.

Hedge Funds Weigh In On TEGNA

Several large investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale lifted its position in TEGNA by 22.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 467,656 shares of the company’s stock worth $6,920,000 after buying an additional 86,604 shares during the period. EMC Capital Management raised its holdings in shares of TEGNA by 26.4% in the 1st quarter. EMC Capital Management now owns 20,346 shares of the company’s stock worth $304,000 after purchasing an additional 4,251 shares during the period. Tidal Investments LLC raised its holdings in shares of TEGNA by 48.6% in the 1st quarter. Tidal Investments LLC now owns 125,504 shares of the company’s stock worth $1,871,000 after purchasing an additional 41,034 shares during the period. Bayesian Capital Management LP purchased a new position in shares of TEGNA in the 1st quarter worth about $155,000. Finally, Caxton Associates LP raised its holdings in shares of TEGNA by 45.8% in the 1st quarter. Caxton Associates LP now owns 90,967 shares of the company’s stock worth $1,359,000 after purchasing an additional 28,583 shares during the period. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

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.