DekaBank Deutsche Girozentrale Buys 17,692 Shares of TEGNA Inc. (NYSE:TGNA)

DekaBank Deutsche Girozentrale raised its stake in TEGNA Inc. (NYSE:TGNA) by 4.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 451,928 shares of the company’s stock after purchasing an additional 17,692 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in TEGNA were worth $7,060,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TGNA. Seven Eight Capital LP bought a new position in shares of TEGNA during the 1st quarter valued at $2,526,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of TEGNA by 122.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 224,159 shares of the company’s stock valued at $3,564,000 after purchasing an additional 123,249 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings 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 valued at $143,714,000 after purchasing an additional 141,638 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of TEGNA by 9,100.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 184,000 shares of the company’s stock valued at $2,749,000 after purchasing an additional 182,000 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in TEGNA during the 3rd quarter valued at $626,000. Institutional investors own 92.19% of the company’s stock.

Insider Transactions at TEGNA

In other news, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $16.40, for a total value of $410,000.00. Following the completion of the sale, the chief operating officer now directly owns 154,617 shares of the company’s stock, valued at approximately $2,535,718.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 50,016 shares of company stock valued at $757,218. Company insiders own 0.88% of the company’s stock.

TEGNA Trading Up 0.8 %

Shares of TGNA opened at $16.68 on Thursday. The stock has a market capitalization of $2.83 billion, a P/E ratio of 5.83 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 firm has a fifty day simple moving average of $15.08 and a two-hundred day simple moving average of $14.60. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $17.08.

TEGNA (NYSE:TGNA) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. TEGNA had a net margin of 15.51% and a return on equity of 11.57%. The business had revenue of $710.36 million during the quarter, compared to analysts’ expectations of $715.40 million. During the same quarter in the prior year, the company posted $0.44 EPS. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, research analysts anticipate that TEGNA Inc. will post 3.07 EPS for the current year.

Analyst Ratings Changes

Separately, Benchmark reissued a “buy” rating and set a $21.00 price target 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.