Cwm LLC Boosts Position in TEGNA Inc. (NYSE:TGNA)

CWM LLC increased its stake in TEGNA Inc. (NYSE:TGNA - Free Report) by 1,293.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,283 shares of the company's stock after purchasing an additional 59,669 shares during the period. CWM LLC's holdings in TEGNA were worth $1,014,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of TGNA. Fidelis Capital Partners LLC purchased a new stake in TEGNA during the 1st quarter valued at about $28,000. Headlands Technologies LLC purchased a new stake in TEGNA in the first quarter valued at approximately $46,000. Blue Trust Inc. raised its position in TEGNA by 247.8% during the 2nd quarter. Blue Trust Inc. now owns 4,702 shares of the company's stock worth $70,000 after buying an additional 3,350 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of TEGNA in the 2nd quarter valued at $116,000. Finally, MQS Management LLC acquired a new stake in shares of TEGNA in the first quarter worth $152,000. 92.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of the company's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $13.88, for a total transaction of $347,000.00. Following the completion of the transaction, the chief operating officer now directly owns 179,617 shares in the company, valued at approximately $2,493,083.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.88% of the company's stock.

Wall Street Analyst Weigh In

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

TEGNA Stock Performance

TEGNA stock traded up $0.17 during mid-day trading on Friday, hitting $16.85. The company had a trading volume of 1,362,677 shares, compared to its average volume of 2,282,171. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 5.86 and a beta of 0.50. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $16.87. The company's fifty day moving average is $14.64 and its 200-day moving average is $14.47. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.10.

TEGNA (NYSE:TGNA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.50 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $715.40 million. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The company's revenue was down 2.9% compared to the same quarter last year. Equities research analysts predict that TEGNA Inc. will post 3.07 EPS for the current year.

TEGNA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.97%. The ex-dividend date was Friday, September 6th. TEGNA's payout ratio is currently 17.48%.

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.