TEGNA Inc. (NYSE:TGNA) Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA decreased its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 374,560 shares of the company’s stock after selling 2,783 shares during the period. Leeward Investments LLC MA’s holdings in TEGNA were worth $5,731,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Covestor Ltd lifted its holdings in shares of TEGNA by 94.3% during the 3rd quarter. Covestor Ltd now owns 2,741 shares of the company’s stock valued at $40,000 after acquiring an additional 1,330 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in TEGNA by 925.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 3,630 shares of the company’s stock worth $53,000 after buying an additional 3,276 shares during the period. Parkside Financial Bank & Trust increased its stake in TEGNA by 34.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 4,474 shares of the company’s stock worth $65,000 after buying an additional 1,145 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in TEGNA during the 3rd quarter worth $97,000. Finally, Signaturefd LLC increased its stake in TEGNA by 437.5% during the 4th quarter. Signaturefd LLC now owns 9,686 shares of the company’s stock worth $148,000 after buying an additional 7,884 shares during the period. Institutional investors and hedge funds own 92.19% of the company’s stock.

Insider Transactions at TEGNA

In other news, CEO David T. Lougee sold 43,750 shares of TEGNA stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $14.70, for a total value of $643,125.00. Following the completion of the transaction, the chief executive officer now directly owns 725,651 shares of the company’s stock, valued at approximately $10,667,069.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO David T. Lougee sold 43,750 shares of TEGNA stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $14.70, for a total value of $643,125.00. Following the completion of the transaction, the chief executive officer now directly owns 725,651 shares of the company’s stock, valued at approximately $10,667,069.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David T. Lougee sold 150,000 shares of TEGNA stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $15.21, for a total transaction of $2,281,500.00. Following the completion of the transaction, the chief executive officer now directly owns 636,262 shares of the company’s stock, valued at $9,677,545.02. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.

TEGNA Stock Down 0.8 %

Shares of TGNA traded down $0.11 during midday trading on Friday, hitting $13.54. The company had a trading volume of 995,524 shares, compared to its average volume of 2,132,102. The company’s 50 day moving average price is $14.21 and its 200 day moving average price is $14.83. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 5.99 and a beta of 0.50. TEGNA Inc. has a 52 week low of $13.18 and a 52 week high of $17.37. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 1.14.

TEGNA (NYSE:TGNA) last released its earnings results on Thursday, February 29th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.04). The company had revenue of $725.80 million during the quarter, compared to the consensus estimate of $750.78 million. TEGNA had a return on equity of 12.41% and a net margin of 16.38%. TEGNA’s revenue for the quarter was down 20.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 EPS. On average, equities research analysts predict that TEGNA Inc. will post 3 EPS for the current year.

TEGNA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were given a $0.114 dividend. This represents a $0.46 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend was Thursday, March 7th. TEGNA’s payout ratio is currently 20.35%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TGNA shares. Wells Fargo & Company dropped their price target on shares of TEGNA from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, February 9th. JPMorgan Chase & Co. dropped their price target on shares of TEGNA from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, March 1st. Finally, Benchmark dropped their price target on shares of TEGNA from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, March 1st.

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.