TEGNA Inc. (NYSE:TGNA) CEO David T. Lougee Sells 98,437 Shares

TEGNA Inc. (NYSE:TGNA) CEO David T. Lougee sold 98,437 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $13.98, for a total value of $1,376,149.26. Following the sale, the chief executive officer now directly owns 594,401 shares of the company’s stock, valued at $8,309,725.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

TEGNA Stock Down 1.8 %

Shares of NYSE:TGNA opened at $13.64 on Wednesday. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.53 and a quick ratio of 2.53. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 4.77 and a beta of 0.51. The company has a 50 day moving average of $14.14 and a 200-day moving average of $14.53. TEGNA Inc. has a one year low of $12.35 and a one year high of $17.37.

TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $714.30 million for the quarter, compared to analysts’ expectations of $718.86 million. TEGNA had a net margin of 19.48% and a return on equity of 11.86%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share. On average, sell-side analysts forecast that TEGNA Inc. will post 3.11 earnings per share for the current year.

TEGNA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Friday, June 7th. This is an increase from TEGNA’s previous quarterly dividend of $0.11. TEGNA’s dividend payout ratio is currently 17.48%.

Hedge Funds Weigh In On TEGNA

Several hedge funds have recently added to or reduced their stakes in TGNA. Parallel Advisors LLC increased its stake in shares of TEGNA by 142.1% in the 4th quarter. Parallel Advisors LLC now owns 1,675 shares of the company’s stock valued at $26,000 after acquiring an additional 983 shares during the last quarter. CWM LLC increased its stake in TEGNA by 389.0% in the first quarter. CWM LLC now owns 1,873 shares of the company’s stock valued at $28,000 after purchasing an additional 1,490 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in TEGNA in the first quarter worth $28,000. Headlands Technologies LLC bought a new position in shares of TEGNA during the first quarter worth $46,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of TEGNA by 32.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,810 shares of the company’s stock valued at $74,000 after buying an additional 1,180 shares during the period. Institutional investors and hedge funds own 92.19% of the company’s stock.

About TEGNA

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.