New York State Teachers Retirement System Decreases Holdings in TEGNA Inc. (NYSE:TGNA)

New York State Teachers Retirement System lowered its stake in TEGNA Inc. (NYSE:TGNA - Free Report) by 10.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 249,161 shares of the company's stock after selling 29,253 shares during the quarter. New York State Teachers Retirement System owned 0.15% of TEGNA worth $3,932,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its position in shares of TEGNA by 122.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 224,159 shares of the company's stock valued at $3,564,000 after purchasing an additional 123,249 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of TEGNA by 108.6% during the 1st quarter. BNP Paribas Financial Markets now owns 350,933 shares of the company's stock worth $5,243,000 after purchasing an additional 182,693 shares during the period. Fidelis Capital Partners LLC purchased a new position in shares of TEGNA during the 1st quarter worth about $28,000. Central Pacific Bank Trust Division purchased a new position in shares of TEGNA during the 1st quarter worth about $201,000. Finally, GSA Capital Partners LLP boosted its position in TEGNA by 59.9% in the 1st quarter. GSA Capital Partners LLP now owns 55,571 shares of the company's stock valued at $830,000 after buying an additional 20,811 shares during the period. Hedge funds and other institutional investors own 92.19% of the company's stock.

TEGNA Stock Up 7.8 %

Shares of TGNA traded up $1.40 during mid-day trading on Thursday, hitting $19.33. The company's stock had a trading volume of 4,617,179 shares, compared to its average volume of 2,252,360. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 7.99 and a beta of 0.49. The company's 50-day moving average is $15.51 and its 200-day moving average is $14.75. 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 issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.02. TEGNA had a net margin of 15.51% and a return on equity of 11.57%. The business had revenue of $710.36 million for the quarter, compared to analyst estimates of $715.40 million. During the same quarter in the prior year, the business posted $0.44 EPS. TEGNA's revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities research analysts forecast that TEGNA Inc. will post 3.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Benchmark reissued a "buy" rating and issued a $21.00 price objective on shares of TEGNA in a research report on Thursday, August 8th.

Insider Buying and Selling

In related news, COO Lynn B. Trelstad sold 25,000 shares of the 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 sale, the chief operating officer now directly owns 154,617 shares of the company's stock, valued at approximately $2,535,718.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 50,016 shares of company stock valued at $757,218. Corporate insiders own 0.88% of the company's stock.

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.