Mission Wealth Management LP Sells 14,182 Shares of TEGNA Inc. (NYSE:TGNA)

Mission Wealth Management LP trimmed its position in TEGNA Inc. (NYSE:TGNA) by 31.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,140 shares of the company’s stock after selling 14,182 shares during the quarter. Mission Wealth Management LP’s holdings in TEGNA were worth $570,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jones Financial Companies Lllp bought a new stake in shares of TEGNA in the 4th quarter valued at about $27,000. Smartleaf Asset Management LLC grew its stake in TEGNA by 95.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company’s stock valued at $31,000 after buying an additional 832 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in TEGNA in the 3rd quarter valued at about $28,000. GAMMA Investing LLC grew its stake in TEGNA by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock valued at $37,000 after buying an additional 757 shares during the last quarter. Finally, Sound Income Strategies LLC acquired a new position in TEGNA in the 4th quarter valued at about $57,000. 92.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Benchmark upped their price target 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. StockNews.com lowered shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Guggenheim reiterated a “buy” rating and issued a $22.00 price target on shares of TEGNA in a research note on Friday, January 24th. Finally, Wells Fargo & Company upgraded shares of TEGNA from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $21.00 to $23.00 in a research note on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.75.

TEGNA Stock Performance

Shares of NYSE:TGNA opened at $17.32 on Thursday. The company’s 50 day moving average price is $18.12 and its two-hundred day moving average price is $17.02. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $19.62. The firm has a market cap of $2.79 billion, a PE ratio of 6.12 and a beta of 0.52. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.89%. TEGNA’s payout ratio is presently 14.12%.

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.