TEGNA Inc. (NYSE:TGNA) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC raised its position in TEGNA Inc. (NYSE:TGNA - Free Report) by 757.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 662,417 shares of the company's stock after acquiring an additional 585,156 shares during the period. Empowered Funds LLC owned approximately 0.40% of TEGNA worth $10,453,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in TEGNA by 5.8% in 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 last quarter. Dimensional Fund Advisors LP raised its holdings in shares of TEGNA by 1.4% in the second quarter. Dimensional Fund Advisors LP now owns 10,309,749 shares of the company's stock worth $143,714,000 after buying an additional 141,638 shares during the last quarter. LSV Asset Management raised its holdings in shares of TEGNA by 29.5% in the second quarter. LSV Asset Management now owns 8,024,562 shares of the company's stock worth $111,862,000 after buying an additional 1,827,471 shares during the last quarter. Gamco Investors INC. ET AL lifted its stake in shares of TEGNA by 18.7% during the first quarter. Gamco Investors INC. ET AL now owns 2,441,675 shares of the company's stock worth $36,479,000 after buying an additional 384,687 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of TEGNA by 43.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,071,403 shares of the company's stock valued at $14,935,000 after acquiring an additional 325,881 shares during the period. Hedge funds and other institutional investors own 92.19% of the company's stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

TGNA has been the topic of several research reports. JPMorgan Chase & Co. increased their price target on shares of TEGNA from $16.00 to $19.00 and gave the stock a "neutral" rating in a report on Tuesday. Benchmark raised their target price on TEGNA from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, StockNews.com raised shares of TEGNA from a "hold" rating to a "buy" rating in a report on Friday.

TEGNA Price Performance

Shares of TEGNA stock traded down $0.47 during trading hours on Friday, reaching $17.64. 1,814,059 shares of the company's stock were exchanged, compared to its average volume of 2,250,921. The company has a market capitalization of $2.84 billion, a P/E ratio of 6.23 and a beta of 0.49. 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 Inc. has a 1 year low of $12.35 and a 1 year high of $19.62. The business has a fifty day moving average of $16.05 and a two-hundred day moving average of $14.96.

TEGNA (NYSE:TGNA - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.11. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The business had revenue of $806.83 million during the quarter, compared to the consensus estimate of $795.72 million. During the same period last year, the company earned $0.39 EPS. The company's revenue for the quarter was up 13.1% on a year-over-year basis. As a group, research analysts predict that TEGNA Inc. will post 3.08 earnings per share for the current fiscal 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.