State of Alaska Department of Revenue Acquires 75,959 Shares of TEGNA Inc. (NYSE:TGNA)

State of Alaska Department of Revenue increased its holdings in TEGNA Inc. (NYSE:TGNA) by 411.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 94,404 shares of the company’s stock after purchasing an additional 75,959 shares during the period. State of Alaska Department of Revenue’s holdings in TEGNA were worth $1,489,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of TEGNA by 5.8% in the first quarter. Vanguard Group Inc. now owns 26,798,623 shares of the company’s stock worth $400,371,000 after acquiring an additional 1,471,691 shares during the period. Dimensional Fund Advisors LP grew its position in TEGNA by 1.4% in 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 period. LSV Asset Management raised its stake in 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 buying an additional 1,827,471 shares during the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of TEGNA by 18.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 2,441,675 shares of the company’s stock valued at $36,479,000 after buying an additional 384,687 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of TEGNA by 43.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,071,403 shares of the company’s stock worth $14,935,000 after buying an additional 325,881 shares during the last quarter. Hedge funds and other institutional investors own 92.19% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $16.40, for a total transaction of $410,000.00. Following the sale, the chief operating officer now directly owns 154,617 shares in the company, valued at $2,535,718.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 50,016 shares of company stock worth $757,218. Company insiders own 0.88% of the company’s stock.

TEGNA Trading Down 0.9 %

NYSE:TGNA opened at $16.29 on Friday. TEGNA Inc. has a one year low of $12.35 and a one year high of $17.08. The business has a fifty day moving average price of $15.25 and a 200-day moving average price of $14.64. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 6.73 and a beta of 0.49. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.58 and a quick ratio of 2.58.

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

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.