Assetmark Inc. Increases Holdings in TEGNA Inc. (NYSE:TGNA)

Assetmark Inc. boosted its position in TEGNA Inc. (NYSE:TGNA) by 8.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,715 shares of the company’s stock after purchasing an additional 16,190 shares during the quarter. Assetmark Inc. owned about 0.13% of TEGNA worth $3,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of TGNA. Harbor Capital Advisors Inc. purchased a new position in TEGNA in the 3rd quarter worth approximately $28,000. Headlands Technologies LLC purchased a new position in shares of TEGNA during the first quarter valued at approximately $46,000. US Bancorp DE increased its position in shares of TEGNA by 20.4% during the third quarter. US Bancorp DE now owns 4,503 shares of the company’s stock valued at $71,000 after buying an additional 764 shares during the period. CWM LLC lifted its stake in shares of TEGNA by 146.3% in the 2nd quarter. CWM LLC now owns 4,614 shares of the company’s stock valued at $64,000 after purchasing an additional 2,741 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of TEGNA by 247.8% in the 2nd quarter. Blue Trust Inc. now owns 4,702 shares of the company’s stock valued at $70,000 after purchasing an additional 3,350 shares during the period. 92.19% of the stock is owned by institutional investors.

TEGNA Stock Down 1.0 %

NYSE TGNA opened at $18.47 on Wednesday. The stock’s 50-day moving average price is $15.79 and its 200-day moving average price is $14.87. The company has a market capitalization of $3.06 billion, a P/E ratio of 6.53 and a beta of 0.49. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.10. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $19.62.

TEGNA (NYSE:TGNA) last issued its earnings results on Thursday, November 7th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. The firm had revenue of $806.83 million during the quarter, compared to analyst estimates of $795.72 million. TEGNA had a net margin of 16.75% and a return on equity of 14.62%. TEGNA’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 earnings per share. On average, equities research analysts predict that TEGNA Inc. will post 3.07 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on TGNA shares. JPMorgan Chase & Co. increased their price objective on TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday. Benchmark lifted their target price on TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 8th.

Insider Buying and Selling

In other news, COO Lynn B. Trelstad sold 25,000 shares of the 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 sale, the chief operating officer now 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 50,016 shares of company stock worth $757,218 over the last three months. 0.88% of the stock is owned by insiders.

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.