TEGNA (NYSE:TGNA) Sets New 52-Week High – Still a Buy?

TEGNA Inc. (NYSE:TGNA) hit a new 52-week high during trading on Wednesday . The stock traded as high as $17.07 and last traded at $17.07, with a volume of 118855 shares. The stock had previously closed at $16.55.

Analysts Set New Price Targets

Separately, Benchmark reiterated a “buy” rating and issued a $21.00 target price on shares of TEGNA in a research note on Thursday, August 8th.

TEGNA Stock Up 1.5 %

The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.58 and a current ratio of 2.58. The stock’s 50 day moving average price is $15.08 and its 200-day moving average price is $14.60. The company has a market cap of $2.85 billion, a PE ratio of 5.79 and a beta of 0.50.

TEGNA (NYSE:TGNA) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.50 earnings per share (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 analyst estimates of $715.40 million. TEGNA had a net margin of 15.51% and a return on equity of 11.57%. The company’s revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. On average, analysts predict that TEGNA Inc. will post 3.07 earnings per share for the current year.

Insider Buying and Selling at TEGNA

In related news, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $16.40, for a total value of $410,000.00. Following the completion of the transaction, the chief operating officer now directly owns 154,617 shares of the company’s stock, valued at $2,535,718.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 50,016 shares of company stock valued at $757,218. 0.88% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TEGNA

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of TEGNA by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 26,798,623 shares of the company’s stock worth $400,371,000 after purchasing an additional 1,471,691 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of TEGNA by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 10,309,749 shares of the company’s stock valued at $143,714,000 after acquiring an additional 141,638 shares in the last quarter. LSV Asset Management raised its holdings in TEGNA by 29.5% in the 2nd quarter. LSV Asset Management now owns 8,024,562 shares of the company’s stock worth $111,862,000 after acquiring an additional 1,827,471 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in TEGNA by 18.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 2,441,675 shares of the company’s stock worth $36,479,000 after acquiring an additional 384,687 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in TEGNA by 43.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,071,403 shares of the company’s stock valued at $14,935,000 after acquiring an additional 325,881 shares in the last quarter. Institutional investors own 92.19% of the company’s stock.

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.