TEGNA Inc. (NYSE:TGNA) CEO Sells $1,376,149.26 in Stock

TEGNA Inc. (NYSE:TGNAGet Free Report) CEO David T. Lougee sold 98,437 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $13.98, for a total value of $1,376,149.26. Following the transaction, the chief executive officer now owns 594,401 shares of the company’s stock, valued at $8,309,725.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

TEGNA Stock Performance

Shares of TEGNA stock opened at $14.00 on Friday. The business has a 50-day moving average of $14.15 and a 200 day moving average of $14.52. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.53 and a quick ratio of 2.53. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 4.90 and a beta of 0.51. TEGNA Inc. has a 12 month low of $12.35 and a 12 month high of $17.37.

TEGNA (NYSE:TGNAGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. TEGNA had a return on equity of 11.86% and a net margin of 19.48%. The business had revenue of $714.30 million during the quarter, compared to the consensus estimate of $718.86 million. During the same period in the previous year, the company posted $0.47 earnings per share. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. As a group, sell-side analysts forecast that TEGNA Inc. will post 3.11 earnings per share for the current year.

TEGNA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, June 7th. This is an increase from TEGNA’s previous quarterly dividend of $0.11. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.57%. TEGNA’s payout ratio is currently 17.48%.

Hedge Funds Weigh In On TEGNA

Institutional investors and hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC grew its position in shares of TEGNA by 142.1% during the fourth quarter. Parallel Advisors LLC now owns 1,675 shares of the company’s stock worth $26,000 after buying an additional 983 shares in the last quarter. CWM LLC grew its position in shares of TEGNA by 389.0% during the first quarter. CWM LLC now owns 1,873 shares of the company’s stock worth $28,000 after buying an additional 1,490 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of TEGNA during the first quarter worth about $28,000. Headlands Technologies LLC purchased a new stake in TEGNA during the first quarter worth approximately $46,000. Finally, EverSource Wealth Advisors LLC lifted its stake in TEGNA by 32.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,810 shares of the company’s stock worth $74,000 after purchasing an additional 1,180 shares during the last quarter. 92.19% of the stock is owned by institutional investors and hedge funds.

About TEGNA

(Get 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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Insider Buying and Selling by Quarter for TEGNA (NYSE:TGNA)

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