Louisiana State Employees Retirement System Has $1.26 Million Stake in TEGNA Inc. (NYSE:TGNA)

Louisiana State Employees Retirement System boosted its position in TEGNA Inc. (NYSE:TGNA - Free Report) by 66.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,000 shares of the company's stock after purchasing an additional 32,000 shares during the period. Louisiana State Employees Retirement System's holdings in TEGNA were worth $1,262,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Seven Eight Capital LP acquired a new position in shares of TEGNA in the 1st quarter worth approximately $2,526,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of TEGNA by 122.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 224,159 shares of the company's stock worth $3,564,000 after acquiring an additional 123,249 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of TEGNA by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 10,309,749 shares of the company's stock worth $143,714,000 after purchasing an additional 141,638 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of TEGNA by 9,100.0% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 184,000 shares of the company's stock worth $2,749,000 after purchasing an additional 182,000 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of TEGNA during the third quarter valued at $626,000. 92.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity at TEGNA

In other news, COO Lynn B. Trelstad sold 25,000 shares of the company's stock in a transaction on 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.

TEGNA Stock Down 0.9 %

NYSE:TGNA traded down $0.14 during trading hours on Friday, hitting $16.29. 1,573,596 shares of the stock traded hands, compared to its average volume of 2,229,169. The firm has a 50 day moving average price of $15.25 and a 200 day moving average price of $14.64. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 6.73 and a beta of 0.50. TEGNA Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $17.08. 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 announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm had revenue of $710.36 million during the quarter, compared to the consensus estimate of $715.40 million. TEGNA had a return on equity of 11.57% and a net margin of 15.51%. The business's revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 EPS. Equities research analysts anticipate that TEGNA Inc. will post 3.07 earnings per share 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.