Herold Advisors Inc. Invests $165,000 in TEGNA Inc. (NYSE:TGNA)

Herold Advisors Inc. purchased a new position in TEGNA Inc. (NYSE:TGNAFree Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 11,300 shares of the company’s stock, valued at approximately $165,000.

Several other institutional investors also recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of TEGNA by 0.6% in the 2nd quarter. BlackRock Inc. now owns 27,750,915 shares of the company’s stock worth $450,675,000 after acquiring an additional 166,869 shares in the last quarter. Vanguard Group Inc. grew its position in TEGNA by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 22,886,547 shares of the company’s stock valued at $473,294,000 after purchasing an additional 257,933 shares during the last quarter. Boston Partners grew its position in TEGNA by 4.4% during the 3rd quarter. Boston Partners now owns 10,574,902 shares of the company’s stock valued at $154,046,000 after purchasing an additional 445,464 shares during the last quarter. State Street Corp boosted its holdings in shares of TEGNA by 1.0% during the 2nd quarter. State Street Corp now owns 9,982,897 shares of the company’s stock valued at $163,010,000 after acquiring an additional 94,345 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of TEGNA by 28.3% during the 2nd quarter. Geode Capital Management LLC now owns 6,177,545 shares of the company’s stock valued at $100,343,000 after acquiring an additional 1,362,883 shares during the last quarter. 89.99% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO David T. Lougee sold 150,000 shares of TEGNA stock in a transaction that occurred on 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 sale, the chief executive officer now owns 636,262 shares in the company, valued at $9,677,545.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO David T. Lougee sold 100,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $15.38, for a total value of $1,538,000.00. Following the sale, the chief executive officer now owns 786,262 shares in the company, valued at $12,092,709.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David T. Lougee sold 150,000 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $15.21, for a total transaction of $2,281,500.00. Following the completion of the sale, the chief executive officer now owns 636,262 shares in the company, valued at approximately $9,677,545.02. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

TGNA has been the topic of a number of research reports. Wells Fargo & Company dropped their price objective on shares of TEGNA from $17.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 price objective on shares of TEGNA in a report on Wednesday, December 6th. Finally, Benchmark reissued a “buy” rating and issued a $22.00 price objective on shares of TEGNA in a report on Monday, October 30th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $19.00.

View Our Latest Report on TEGNA

TEGNA Price Performance

NYSE TGNA opened at $14.34 on Friday. TEGNA Inc. has a 12 month low of $13.65 and a 12 month high of $22.29. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 5.07 and a beta of 0.54. The company’s 50 day moving average is $15.34 and its two-hundred day moving average is $15.47. The company has a current ratio of 3.47, a quick ratio of 3.47 and a debt-to-equity ratio of 1.04.

TEGNA (NYSE:TGNAGet Free Report) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.05. The firm had revenue of $713.24 million for the quarter, compared to analysts’ expectations of $715.00 million. TEGNA had a net margin of 19.96% and a return on equity of 16.65%. As a group, research analysts anticipate that TEGNA Inc. will post 1.77 earnings per share for the current year.

TEGNA Profile

(Free Report)

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.

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Institutional Ownership by Quarter for TEGNA (NYSE:TGNA)

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