State of Alaska Department of Revenue Acquires 75,959 Shares of TEGNA Inc. (NYSE:TGNA)

State of Alaska Department of Revenue boosted its stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 411.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,404 shares of the company's stock after acquiring an additional 75,959 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of TEGNA worth $1,489,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. LSV Asset Management increased its stake 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 valued at $111,862,000 after buying an additional 1,827,471 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of TEGNA by 5.8% during the first quarter. Vanguard Group Inc. now owns 26,798,623 shares of the company's stock valued at $400,371,000 after purchasing an additional 1,471,691 shares during the last quarter. Millennium Management LLC grew its stake in shares of TEGNA by 395.9% during the second quarter. Millennium Management LLC now owns 930,722 shares of the company's stock valued at $12,974,000 after purchasing an additional 743,052 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of TEGNA by 132.9% in the second quarter. Squarepoint Ops LLC now owns 916,760 shares of the company's stock valued at $12,780,000 after purchasing an additional 523,120 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its position in TEGNA by 18.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 2,441,675 shares of the company's stock worth $36,479,000 after purchasing an additional 384,687 shares during the last quarter. Institutional investors and hedge funds own 92.19% of the company's stock.

TEGNA Trading Down 0.9 %

Shares of NYSE:TGNA traded down $0.14 during trading on Friday, hitting $16.29. 1,573,596 shares of the company's stock were exchanged, compared to its average volume of 1,249,860. The firm has a 50-day moving average price of $15.25 and a two-hundred day moving average price of $14.65. TEGNA Inc. has a 1-year low of $12.35 and a 1-year high of $17.08. The firm has a market cap of $2.69 billion, a P/E ratio of 6.73 and a beta of 0.49. 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 posted its quarterly earnings results 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. TEGNA had a return on equity of 11.57% and a net margin of 15.51%. The business had revenue of $710.36 million for the quarter, compared to analyst estimates of $715.40 million. During the same period last year, the company earned $0.44 EPS. The firm's revenue was down 2.9% on a year-over-year basis. Equities analysts predict that TEGNA Inc. will post 3.07 earnings per share for the current year.

Insider Activity at TEGNA

In other news, COO Lynn B. Trelstad sold 25,000 shares of TEGNA 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 transaction, the chief operating officer now directly owns 154,617 shares of the company's stock, valued at $2,535,718.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 50,016 shares of company stock worth $757,218 in the last ninety days. Company insiders own 0.88% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.