Amalgamated Bank Sells 33,474 Shares of TEGNA Inc. (NYSE:TGNA)

Amalgamated Bank trimmed its stake in TEGNA Inc. (NYSE:TGNA - Free Report) by 40.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,062 shares of the company's stock after selling 33,474 shares during the period. Amalgamated Bank's holdings in TEGNA were worth $774,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Miller Howard Investments Inc. NY grew its position in TEGNA by 1.8% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 42,031 shares of the company's stock worth $586,000 after acquiring an additional 726 shares during the last quarter. US Bancorp DE grew its holdings in shares of TEGNA by 20.4% during the third quarter. US Bancorp DE now owns 4,503 shares of the company's stock worth $71,000 after purchasing an additional 764 shares during the last quarter. Manchester Financial Inc. grew its holdings in shares of TEGNA by 0.9% during the second quarter. Manchester Financial Inc. now owns 118,202 shares of the company's stock worth $1,648,000 after purchasing an additional 1,047 shares during the last quarter. O Keefe Stevens Advisory Inc. increased its stake in shares of TEGNA by 7.4% in the second quarter. O Keefe Stevens Advisory Inc. now owns 16,024 shares of the company's stock valued at $223,000 after buying an additional 1,099 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of TEGNA by 3.0% in the first quarter. ProShare Advisors LLC now owns 45,113 shares of the company's stock valued at $674,000 after buying an additional 1,306 shares during the last quarter. 92.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Lynn B. Trelstad sold 25,000 shares of the company's stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $16.40, for a total value of $410,000.00. Following the completion of the sale, the chief operating officer now directly owns 154,617 shares of the company's stock, valued at $2,535,718.80. This represents a 13.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.88% of the stock is currently owned by company insiders.

TEGNA Trading Down 2.6 %

NYSE:TGNA traded down $0.47 on Friday, hitting $17.64. 1,814,059 shares of the stock were exchanged, compared to its average volume of 2,250,921. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $19.62. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 6.23 and a beta of 0.49. The company's 50-day moving average price is $16.05 and its 200 day moving average price is $14.95.

TEGNA (NYSE:TGNA - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.11. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The business had revenue of $806.83 million for the quarter, compared to analyst estimates of $795.72 million. During the same period in the prior year, the business posted $0.39 earnings per share. TEGNA's revenue was up 13.1% compared to the same quarter last year. On average, equities research analysts forecast that TEGNA Inc. will post 3.08 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on TGNA. JPMorgan Chase & Co. raised their price objective on shares of TEGNA from $16.00 to $19.00 and gave the company a "neutral" rating in a research report on Tuesday. StockNews.com raised shares of TEGNA from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Benchmark boosted their price objective on shares of TEGNA from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Friday, November 8th.

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.