Sanctuary Advisors LLC Acquires New Shares in TEGNA Inc. (NYSE:TGNA)

Sanctuary Advisors LLC acquired a new stake in shares of TEGNA Inc. (NYSE:TGNA) during the second quarter, according to its most recent filing with the SEC. The fund acquired 16,755 shares of the company’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TGNA. LSV Asset Management raised its stake in shares of TEGNA by 29.5% during the 2nd quarter. LSV Asset Management now owns 8,024,562 shares of the company’s stock valued at $111,862,000 after purchasing an additional 1,827,471 shares during the period. Vanguard Group Inc. raised its stake in shares of TEGNA by 5.8% during the 1st 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 period. Millennium Management LLC raised its stake in shares of TEGNA by 395.9% during the 2nd 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 period. Squarepoint Ops LLC increased its stake in TEGNA by 132.9% in the 2nd quarter. Squarepoint Ops LLC now owns 916,760 shares of the company’s stock worth $12,780,000 after acquiring an additional 523,120 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in TEGNA by 26.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,330,866 shares of the company’s stock worth $35,662,000 after acquiring an additional 484,658 shares during the last quarter. 92.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $13.88, for a total transaction of $347,000.00. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.88% of the company’s stock.

TEGNA Price Performance

Shares of NYSE TGNA opened at $16.85 on Friday. The firm has a market capitalization of $2.86 billion, a P/E ratio of 5.89 and a beta of 0.50. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.10. The stock’s 50-day simple moving average is $14.71 and its two-hundred day simple moving average is $14.48. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $16.87.

TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm 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 company’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 EPS. As a group, equities analysts anticipate that TEGNA Inc. will post 3.07 EPS for the current fiscal year.

TEGNA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.50 annualized dividend and a dividend yield of 2.97%. TEGNA’s dividend payout ratio (DPR) is presently 17.48%.

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.