Qsemble Capital Management LP Increases Position in TEGNA Inc. (NYSE:TGNA)

Qsemble Capital Management LP grew its holdings in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 235.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,776 shares of the company's stock after purchasing an additional 44,737 shares during the quarter. Qsemble Capital Management LP's holdings in TEGNA were worth $1,006,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Pacer Advisors Inc. increased its holdings in TEGNA by 2,898.4% during the third quarter. Pacer Advisors Inc. now owns 10,806,130 shares of the company's stock worth $170,521,000 after buying an additional 10,445,739 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of TEGNA by 1.4% during the 2nd 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 last quarter. LSV Asset Management raised its holdings in shares of TEGNA by 29.5% in the 2nd quarter. LSV Asset Management now owns 8,024,562 shares of the company's stock worth $111,862,000 after purchasing an additional 1,827,471 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in TEGNA by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,779,273 shares of the company's stock valued at $28,077,000 after purchasing an additional 53,583 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in TEGNA by 43.7% during the second quarter. Victory Capital Management Inc. now owns 1,071,403 shares of the company's stock valued at $14,935,000 after purchasing an additional 325,881 shares during the period. 92.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on TGNA shares. Benchmark boosted their target price on TEGNA from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Friday, November 8th. StockNews.com cut TEGNA from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, JPMorgan Chase & Co. increased their target price on shares of TEGNA from $16.00 to $19.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 12th.

TEGNA Stock Performance

Shares of NYSE:TGNA traded up $0.06 during midday trading on Wednesday, reaching $18.97. 85,907 shares of the company traded hands, compared to its average volume of 2,221,157. The firm's fifty day moving average price is $16.64 and its two-hundred day moving average price is $15.15. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 6.68 and a beta of 0.49. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. TEGNA Inc. has a 12 month low of $12.35 and a 12 month high of $19.62.

TEGNA (NYSE:TGNA - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.11. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The firm had revenue of $806.83 million for the quarter, compared to analysts' expectations of $795.72 million. During the same period in the prior year, the business posted $0.39 earnings per share. The company's revenue was up 13.1% on a year-over-year basis. On average, equities analysts expect that TEGNA Inc. will post 3.02 earnings per share for the current year.

TEGNA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.64%. The ex-dividend date is Friday, December 6th. TEGNA's payout ratio is 17.67%.

Insider Activity

In other news, COO Lynn B. Trelstad sold 25,000 shares of TEGNA 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 completion of the sale, the chief operating officer now owns 154,617 shares in the company, valued at approximately $2,535,718.80. This trade represents a 13.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company 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.