Crossmark Global Holdings Inc. Trims Stake in TEGNA Inc. (NYSE:TGNA)

Crossmark Global Holdings Inc. reduced its stake in TEGNA Inc. (NYSE:TGNA - Free Report) by 6.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 529,661 shares of the company's stock after selling 34,151 shares during the period. Crossmark Global Holdings Inc. owned approximately 0.32% of TEGNA worth $8,358,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in TEGNA by 5.8% during the first quarter. Vanguard Group Inc. now owns 26,798,623 shares of the company's stock valued at $400,371,000 after buying an additional 1,471,691 shares during the period. Dimensional Fund Advisors LP boosted its stake in TEGNA by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 10,309,749 shares of the company's stock valued at $143,714,000 after buying an additional 141,638 shares during the period. LSV Asset Management boosted its stake in TEGNA by 29.5% during the second quarter. LSV Asset Management now owns 8,024,562 shares of the company's stock valued at $111,862,000 after buying an additional 1,827,471 shares during the period. Gamco Investors INC. ET AL raised its position in TEGNA by 18.7% during the first quarter. Gamco Investors INC. ET AL now owns 2,441,675 shares of the company's stock valued at $36,479,000 after purchasing an additional 384,687 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in TEGNA by 43.7% during the second quarter. Victory Capital Management Inc. now owns 1,071,403 shares of the company's stock valued at $14,935,000 after purchasing an additional 325,881 shares in the last quarter. 92.19% of the stock is owned by institutional investors.

Insider Buying and Selling

In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of the business's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $16.40, for a total transaction of $410,000.00. Following the completion of the sale, the chief operating officer now directly owns 154,617 shares in the company, valued at approximately $2,535,718.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 50,016 shares of company stock worth $757,218 in the last three months. Insiders own 0.88% of the company's stock.

Analysts Set New Price Targets

Separately, Benchmark raised their price target on TEGNA from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Friday.

TEGNA Trading Down 1.0 %

Shares of TGNA traded down $0.18 during trading hours on Monday, hitting $18.65. The company had a trading volume of 2,201,616 shares, compared to its average volume of 2,258,014. The firm has a market cap of $3.09 billion, a P/E ratio of 6.59 and a beta of 0.49. The stock's 50 day moving average price is $15.70 and its 200 day moving average price is $14.84. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.10. TEGNA Inc. has a 52-week low of $12.35 and a 52-week high of $19.62.

TEGNA (NYSE:TGNA - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.11. TEGNA had a return on equity of 14.62% and a net margin of 16.75%. The company had revenue of $806.83 million for the quarter, compared to the consensus estimate of $795.72 million. During the same quarter in the previous year, the business earned $0.39 EPS. TEGNA's revenue was up 13.1% compared to the same quarter last year. On average, research analysts predict that TEGNA Inc. will post 3.07 EPS for the current year.

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.