TEGNA Inc. (NYSE:TGNA) Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd reduced its holdings in TEGNA Inc. (NYSE:TGNA) by 63.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 14,911 shares of the company’s stock after selling 25,510 shares during the quarter. Quadrature Capital Ltd’s holdings in TEGNA were worth $235,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of TGNA. Harbor Capital Advisors Inc. bought a new position in TEGNA in the third quarter worth about $28,000. Headlands Technologies LLC lifted its holdings in shares of TEGNA by 48.2% in the 2nd quarter. Headlands Technologies LLC now owns 4,520 shares of the company’s stock worth $63,000 after purchasing an additional 1,470 shares during the last quarter. CWM LLC boosted its position in TEGNA by 146.3% during the 2nd quarter. CWM LLC now owns 4,614 shares of the company’s stock valued at $64,000 after purchasing an additional 2,741 shares during the period. Quarry LP boosted its position in TEGNA by 455.2% during the 3rd quarter. Quarry LP now owns 4,025 shares of the company’s stock valued at $64,000 after purchasing an additional 3,300 shares during the period. Finally, Blue Trust Inc. grew its stake in TEGNA by 247.8% during the 2nd quarter. Blue Trust Inc. now owns 4,702 shares of the company’s stock worth $70,000 after buying an additional 3,350 shares during the last quarter. 92.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $13.88, for a total transaction of $347,000.00. Following the completion of the transaction, the chief operating officer now owns 179,617 shares in the company, valued at approximately $2,493,083.96. This trade represents a 12.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.88% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TGNA shares. Benchmark boosted their price target on shares of TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, November 8th. StockNews.com cut shares of TEGNA from a “buy” rating to a “hold” rating in a research report on Saturday, November 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th.

TEGNA Price Performance

Shares of NYSE TGNA opened at $18.83 on Wednesday. The stock has a market cap of $3.03 billion, a P/E ratio of 6.65 and a beta of 0.52. The firm’s 50-day simple moving average is $17.32 and its 200 day simple moving average is $15.42. TEGNA Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $19.62. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07.

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

TEGNA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Friday, December 6th. TEGNA’s payout ratio is currently 17.67%.

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.