Tegna Inc (NYSE:TGNA) COO Lynn B. Trelstad sold 3,112 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $12.85, for a total transaction of $39,989.20. Following the sale, the chief operating officer now directly owns 24,152 shares of the company’s stock, valued at approximately $310,353.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Tegna Inc (TGNA) opened at $12.87 on Monday. Tegna Inc has a 52 week low of $11.59 and a 52 week high of $16.98. The stock has a market cap of $2,774.81, a P/E ratio of 11.00, a price-to-earnings-growth ratio of 6.12 and a beta of 1.55. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 3.02.
Tegna (NYSE:TGNA) last announced its quarterly earnings data on Thursday, March 1st. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $480.45 million for the quarter, compared to analysts’ expectations of $491.79 million. Tegna had a net margin of 20.74% and a return on equity of 19.56%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period last year, the firm earned $0.74 earnings per share. equities research analysts predict that Tegna Inc will post 1.71 EPS for the current year.
TGNA has been the subject of a number of research reports. Zacks Investment Research raised shares of Tegna from a “sell” rating to a “hold” rating in a report on Saturday, January 20th. Barclays set a $12.00 price target on shares of Tegna and gave the company a “sell” rating in a report on Sunday, March 4th. ValuEngine raised shares of Tegna from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st. Noble Financial reissued a “buy” rating on shares of Tegna in a report on Tuesday, December 19th. Finally, Wells Fargo & Co raised shares of Tegna from a “market perform” rating to an “outperform” rating and set a $19.00 price target for the company in a report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $15.63.
Several hedge funds and other institutional investors have recently made changes to their positions in TGNA. Evercore Trust Company N.A. bought a new position in shares of Tegna during the third quarter worth $56,674,000. Schroder Investment Management Group boosted its position in shares of Tegna by 104.7% during the fourth quarter. Schroder Investment Management Group now owns 7,802,625 shares of the company’s stock worth $109,861,000 after purchasing an additional 3,991,060 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Tegna by 120.7% during the third quarter. Prudential Financial Inc. now owns 3,099,576 shares of the company’s stock worth $41,317,000 after purchasing an additional 1,695,312 shares in the last quarter. Ariel Investments LLC boosted its position in shares of Tegna by 22.9% during the fourth quarter. Ariel Investments LLC now owns 7,500,773 shares of the company’s stock worth $105,611,000 after purchasing an additional 1,395,820 shares in the last quarter. Finally, Fairpointe Capital LLC lifted its position in Tegna by 10.9% in the 4th quarter. Fairpointe Capital LLC now owns 11,373,812 shares of the company’s stock valued at $160,143,000 after acquiring an additional 1,119,057 shares in the last quarter. 99.91% of the stock is currently owned by institutional investors.
Tegna Company Profile
Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
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