Blue Trust Inc. Increases Stake in TEGNA Inc. (NYSE:TGNA)

Blue Trust Inc. boosted its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 370.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 22,141 shares of the company’s stock after buying an additional 17,439 shares during the period. Blue Trust Inc.’s holdings in TEGNA were worth $349,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. LSV Asset Management raised its stake in shares of TEGNA by 29.5% in the second quarter. LSV Asset Management now owns 8,024,562 shares of the company’s stock valued at $111,862,000 after acquiring an additional 1,827,471 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of TEGNA by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 26,798,623 shares of the company’s stock valued at $400,371,000 after buying an additional 1,471,691 shares during the period. Millennium Management LLC grew its position in shares of TEGNA by 395.9% during the second quarter. Millennium Management LLC now owns 930,722 shares of the company’s stock worth $12,974,000 after buying an additional 743,052 shares in the last quarter. Squarepoint Ops LLC grew its holdings in TEGNA by 132.9% during 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 in the last quarter. Finally, Gamco Investors INC. ET AL raised its position 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 worth $36,479,000 after acquiring an additional 384,687 shares in the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.

TEGNA Stock Down 0.7 %

Shares of NYSE:TGNA opened at $16.20 on Thursday. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 5.66 and a beta of 0.50. TEGNA Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $16.87. The firm’s 50-day simple moving average is $14.87 and its 200-day simple moving average is $14.52. 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 (NYSE:TGNA) last released its earnings results on Wednesday, August 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $710.36 million for 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 firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 EPS. As a group, equities research analysts predict that TEGNA Inc. will post 3.07 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Activity

In related news, COO Lynn B. Trelstad sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $13.88, for a total value of $347,000.00. Following the sale, the chief operating officer now owns 179,617 shares in the company, valued at $2,493,083.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.