Edgestream Partners L.P. Buys 35,162 Shares of TEGNA Inc. (NYSE:TGNA)

Edgestream Partners L.P. grew its stake in TEGNA Inc. (NYSE:TGNA - Free Report) by 15.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 262,391 shares of the company's stock after buying an additional 35,162 shares during the period. Edgestream Partners L.P. owned approximately 0.15% of TEGNA worth $3,658,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in TEGNA by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 25,326,932 shares of the company's stock valued at $387,502,000 after acquiring an additional 744,721 shares during the last quarter. Kodai Capital Management LP purchased a new position in shares of TEGNA during the 4th quarter valued at about $7,477,000. Seven Eight Capital LP bought a new stake in TEGNA in the 1st quarter worth approximately $2,526,000. Gamco Investors INC. ET AL boosted its stake in TEGNA by 6.8% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,056,988 shares of the company's stock worth $31,472,000 after buying an additional 130,960 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in TEGNA by 122.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 224,159 shares of the company's stock valued at $3,564,000 after acquiring an additional 123,249 shares during the last quarter. Institutional investors own 92.19% of the company's stock.

Analyst Upgrades and Downgrades

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

TEGNA Trading Up 2.1 %

TEGNA stock traded up $0.31 during trading hours on Wednesday, reaching $15.14. The company had a trading volume of 2,900,660 shares, compared to its average volume of 2,123,994. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 5.29 and a beta of 0.49. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $16.56. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.58 and a quick ratio of 2.58. The company has a 50-day moving average price of $14.55 and a 200 day moving average price of $14.31.

TEGNA (NYSE:TGNA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.02. The business had revenue of $710.36 million for the quarter, compared to analyst estimates of $715.40 million. TEGNA had a net margin of 15.51% and a return on equity of 11.57%. The company's revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. Equities analysts forecast that TEGNA Inc. will post 3.07 earnings per share for the current year.

TEGNA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 3.30%. The ex-dividend date is Friday, September 6th. TEGNA's dividend payout ratio (DPR) is currently 17.48%.

Insider Activity

In other TEGNA news, CEO David T. Lougee sold 98,437 shares of the company's stock in a transaction on Monday, July 1st. The shares were sold at an average price of $13.98, for a total value of $1,376,149.26. Following the completion of the transaction, the chief executive officer now directly owns 594,401 shares in the company, valued at approximately $8,309,725.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO David T. Lougee sold 98,437 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $13.98, for a total value of $1,376,149.26. Following the completion of the transaction, the chief executive officer now owns 594,401 shares of the company's stock, valued at approximately $8,309,725.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Lynn B. Trelstad sold 25,000 shares of TEGNA stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $13.88, for a total value of $347,000.00. Following the sale, the chief operating officer now owns 179,617 shares in the company, valued at $2,493,083.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 123,467 shares of company stock valued at $1,723,563. Company insiders own 0.88% of the company's stock.

TEGNA Company Profile

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.