City Center Advisors LLC Has $333,000 Stock Position in TEGNA Inc. (NYSE:TGNA)

City Center Advisors LLC lessened its stake in shares of TEGNA Inc. (NYSE:TGNA) by 18.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,228 shares of the company’s stock after selling 4,244 shares during the quarter. City Center Advisors LLC’s holdings in TEGNA were worth $333,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Texas Permanent School Fund Corp raised its stake in TEGNA by 0.8% during the 2nd quarter. Texas Permanent School Fund Corp now owns 173,408 shares of the company’s stock worth $2,417,000 after buying an additional 1,341 shares during the period. Headlands Technologies LLC lifted its stake in shares of TEGNA by 48.2% in the second quarter. Headlands Technologies LLC now owns 4,520 shares of the company’s stock valued at $63,000 after buying an additional 1,470 shares in the last quarter. Qsemble Capital Management LP acquired a new position in shares of TEGNA during the second quarter valued at about $265,000. Envestnet Asset Management Inc. increased its position in shares of TEGNA by 513.1% during the second quarter. Envestnet Asset Management Inc. now owns 181,214 shares of the company’s stock worth $2,526,000 after acquiring an additional 151,656 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of TEGNA by 1.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,309,749 shares of the company’s stock worth $143,714,000 after acquiring an additional 141,638 shares during the last quarter. 92.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TGNA has been the subject of a number of recent research reports. StockNews.com raised TEGNA from a “hold” rating to a “buy” rating in a report on Friday, December 13th. JPMorgan Chase & Co. raised their price objective on TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Wells Fargo & Company upgraded shares of TEGNA from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $21.00 to $23.00 in a report on Thursday, December 19th. Finally, Benchmark increased their price objective on shares of TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, November 8th.

TEGNA Trading Down 2.4 %

Shares of TEGNA stock opened at $17.86 on Monday. The stock has a fifty day moving average price of $18.37 and a 200-day moving average price of $16.14. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60. The firm has a market cap of $2.88 billion, a PE ratio of 6.31 and a beta of 0.52. TEGNA Inc. has a 1 year low of $12.35 and a 1 year high of $19.62.

TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.83 by $0.11. The business had revenue of $806.83 million for the quarter, compared to analyst estimates of $795.72 million. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 earnings per share. Equities research analysts anticipate that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were paid a $0.125 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.50 annualized dividend and a yield of 2.80%. TEGNA’s payout ratio is 17.67%.

Insider Buying and Selling at TEGNA

In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $16.40, for a total transaction of $410,000.00. Following the sale, the chief operating officer now directly owns 154,617 shares of the company’s stock, valued at $2,535,718.80. This represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is owned by corporate insiders.

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.