Capital Management Corp VA Buys 168,667 Shares of TEGNA Inc. (NYSE:TGNA)

Capital Management Corp VA increased its holdings in TEGNA Inc. (NYSE:TGNA - Free Report) by 30.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 725,805 shares of the company's stock after purchasing an additional 168,667 shares during the quarter. TEGNA makes up 2.0% of Capital Management Corp VA's investment portfolio, making the stock its 19th biggest holding. Capital Management Corp VA owned approximately 0.43% of TEGNA worth $11,453,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Miller Howard Investments Inc. NY grew its stake in shares of TEGNA by 1.8% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 42,031 shares of the company's stock valued at $586,000 after buying an additional 726 shares during the period. US Bancorp DE lifted its holdings in shares of TEGNA by 20.4% in the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company's stock worth $71,000 after purchasing an additional 764 shares in the last quarter. Manchester Financial Inc. grew its position in TEGNA by 0.9% in the 2nd quarter. Manchester Financial Inc. now owns 118,202 shares of the company's stock valued at $1,648,000 after purchasing an additional 1,047 shares during the period. O Keefe Stevens Advisory Inc. increased its stake in TEGNA by 7.4% during the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 16,024 shares of the company's stock valued at $223,000 after purchasing an additional 1,099 shares in the last quarter. Finally, State of Michigan Retirement System lifted its stake in shares of TEGNA by 2.3% in the first quarter. State of Michigan Retirement System now owns 48,371 shares of the company's stock valued at $723,000 after buying an additional 1,100 shares in the last quarter. 92.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

TEGNA Stock Performance

NYSE TGNA traded down $0.10 on Tuesday, hitting $16.05. 2,306,169 shares of the stock traded hands, compared to its average volume of 2,225,402. The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.58 and a current ratio of 2.58. The business's fifty day moving average is $15.28 and its two-hundred day moving average is $14.68. TEGNA Inc. has a 12 month low of $12.35 and a 12 month high of $17.08. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 6.74 and a beta of 0.49.

TEGNA (NYSE:TGNA - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $710.36 million for the quarter, compared to analyst estimates of $715.40 million. TEGNA had a return on equity of 11.57% and a net margin of 15.51%. The firm's revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 EPS. As a group, equities analysts anticipate that TEGNA Inc. will post 3.07 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction dated Friday, October 25th. The stock was 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 in the company, valued at approximately $2,535,718.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 50,016 shares of company stock worth $757,218. Insiders own 0.88% of the company's stock.

TEGNA 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.