David T. Lougee Sells 43,750 Shares of TEGNA Inc. (NYSE:TGNA) Stock

TEGNA Inc. (NYSE:TGNAGet Free Report) 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 transaction, the chief executive officer now directly owns 725,651 shares of the company’s stock, valued at $10,667,069.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

TEGNA Price Performance

Shares of TGNA opened at $14.41 on Thursday. The company has a 50 day moving average of $14.63 and a two-hundred day moving average of $14.93. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 1.14. TEGNA Inc. has a twelve month low of $13.40 and a twelve month high of $17.37. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 6.38 and a beta of 0.50.

TEGNA (NYSE:TGNAGet Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.04). The business had revenue of $725.80 million for the quarter, compared to analysts’ expectations of $750.78 million. TEGNA had a return on equity of 12.41% and a net margin of 16.38%. TEGNA’s revenue was down 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 EPS. As a group, analysts predict that TEGNA Inc. will post 3.05 earnings per share for the current fiscal year.

TEGNA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were issued a $0.114 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Thursday, March 7th. TEGNA’s dividend payout ratio is presently 20.35%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TGNA. Wells Fargo & Company dropped their price objective on TEGNA from $17.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, February 9th. JPMorgan Chase & Co. lowered their target price on shares of TEGNA from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Friday, March 1st. Finally, Benchmark decreased their price objective on shares of TEGNA from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, March 1st.

View Our Latest Stock Report on TEGNA

Institutional Investors Weigh In On TEGNA

A number of large investors have recently bought and sold shares of TGNA. US Bancorp DE increased its stake in shares of TEGNA by 81.5% in the first quarter. US Bancorp DE now owns 5,749 shares of the company’s stock worth $129,000 after acquiring an additional 2,581 shares during the period. Bank of Montreal Can grew its position in TEGNA by 16.8% during the 1st quarter. Bank of Montreal Can now owns 40,458 shares of the company’s stock worth $912,000 after purchasing an additional 5,830 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of TEGNA by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 81,097 shares of the company’s stock valued at $1,817,000 after buying an additional 7,732 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of TEGNA by 11.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 132,537 shares of the company’s stock valued at $3,057,000 after buying an additional 13,275 shares during the period. Finally, Yousif Capital Management LLC boosted its stake in shares of TEGNA by 5.7% in the first quarter. Yousif Capital Management LLC now owns 122,229 shares of the company’s stock worth $2,738,000 after buying an additional 6,586 shares during the last quarter. Hedge funds and other institutional investors own 92.19% of the company’s stock.

About TEGNA

(Get Free Report)

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.

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