Leeward Investments LLC MA Decreases Stock Holdings in TEGNA Inc. (NYSE:TGNA)

Leeward Investments LLC MA trimmed its holdings in TEGNA Inc. (NYSE:TGNA) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 374,560 shares of the company’s stock after selling 2,783 shares during the quarter. Leeward Investments LLC MA owned about 0.19% of TEGNA worth $5,731,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in shares of TEGNA during the 3rd quarter valued at approximately $1,460,000. Exchange Traded Concepts LLC raised its position in shares of TEGNA by 29.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 41,286 shares of the company’s stock valued at $602,000 after buying an additional 9,282 shares during the period. Asset Management One Co. Ltd. purchased a new stake in shares of TEGNA during the 3rd quarter valued at approximately $224,000. Outfitter Financial LLC raised its position in shares of TEGNA by 13.6% during the 3rd quarter. Outfitter Financial LLC now owns 46,850 shares of the company’s stock valued at $683,000 after buying an additional 5,600 shares during the period. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in shares of TEGNA during the 3rd quarter valued at approximately $1,282,000. 92.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TGNA has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their price target on shares of TEGNA from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Friday, March 1st. Benchmark reduced their price target on shares of TEGNA from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. Finally, Wells Fargo & Company dropped their target price on shares of TEGNA from $17.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, February 9th.

Insiders Place Their Bets

In other TEGNA news, CEO David T. Lougee sold 43,750 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $14.70, for a total value of $643,125.00. Following the completion of the transaction, the chief executive officer now owns 725,651 shares in the company, valued at $10,667,069.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO David T. Lougee sold 150,000 shares of TEGNA stock in a transaction on Monday, February 5th. The shares were sold at an average price of $15.21, for a total transaction of $2,281,500.00. Following the completion of the sale, the chief executive officer now directly owns 636,262 shares of the company’s stock, valued at approximately $9,677,545.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David T. Lougee sold 43,750 shares of TEGNA stock in a transaction on Monday, April 1st. The stock was sold at an average price of $14.70, for a total transaction of $643,125.00. Following the sale, the chief executive officer now directly owns 725,651 shares of the company’s stock, valued at $10,667,069.70. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.

TEGNA Trading Down 0.8 %

TEGNA stock traded down $0.11 during trading on Friday, hitting $13.54. The company had a trading volume of 995,524 shares, compared to its average volume of 2,132,102. TEGNA Inc. has a 1-year low of $13.18 and a 1-year high of $17.37. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.14. The company’s 50 day simple moving average is $14.21 and its 200-day simple moving average is $14.83. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 5.99 and a beta of 0.50.

TEGNA (NYSE:TGNA) last posted its earnings results on Thursday, February 29th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.04). TEGNA had a net margin of 16.38% and a return on equity of 12.41%. The company had revenue of $725.80 million during the quarter, compared to analyst estimates of $750.78 million. During the same quarter last year, the business posted $0.98 EPS. The firm’s revenue for the quarter was down 20.9% on a year-over-year basis. As a group, analysts expect that TEGNA Inc. will post 3 EPS for the current fiscal year.

TEGNA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a $0.114 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.46 annualized dividend and a dividend yield of 3.37%. TEGNA’s dividend payout ratio (DPR) is 20.35%.

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.