Qsemble Capital Management LP Makes New $265,000 Investment in TEGNA Inc. (NYSE:TGNA)

Qsemble Capital Management LP bought a new stake in shares of TEGNA Inc. (NYSE:TGNA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 19,039 shares of the company’s stock, valued at approximately $265,000.

Several other large investors have also recently made changes to their positions in the business. Parallel Advisors LLC increased its position in TEGNA by 142.1% during the 4th quarter. Parallel Advisors LLC now owns 1,675 shares of the company’s stock valued at $26,000 after buying an additional 983 shares in the last quarter. CWM LLC grew its stake in shares of TEGNA by 389.0% in the first quarter. CWM LLC now owns 1,873 shares of the company’s stock worth $28,000 after acquiring an additional 1,490 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of TEGNA during the first quarter valued at $28,000. Headlands Technologies LLC purchased a new position in shares of TEGNA in the 1st quarter worth about $46,000. Finally, Blue Trust Inc. boosted its stake in TEGNA by 247.8% in the 2nd quarter. Blue Trust Inc. now owns 4,702 shares of the company’s stock worth $70,000 after purchasing an additional 3,350 shares in the last quarter. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Benchmark restated a “buy” rating and set a $21.00 price objective on shares of TEGNA in a research note on Thursday, August 8th.

Insider Buying and Selling

In other TEGNA news, CEO David T. Lougee sold 98,437 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $13.98, for a total transaction of $1,376,149.26. Following the completion of the sale, the chief executive officer now directly owns 594,401 shares in the company, valued at approximately $8,309,725.98. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders have sold 98,467 shares of company stock worth $1,376,563. 0.88% of the stock is owned by insiders.

TEGNA Stock Performance

Shares of TGNA opened at $14.29 on Friday. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 5.00 and a beta of 0.49. The business’s fifty day simple moving average is $14.52 and its two-hundred day simple moving average is $14.28. TEGNA Inc. has a 12 month low of $12.35 and a 12 month high of $16.56. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.10.

TEGNA (NYSE:TGNA) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $710.36 million during the quarter, compared to the consensus estimate of $715.40 million. TEGNA had a return on equity of 11.57% and a net margin of 15.51%. TEGNA’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the company earned $0.44 EPS. Research analysts anticipate that TEGNA Inc. will post 3.07 earnings per share for the current fiscal year.

TEGNA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.50 dividend on an annualized basis and a yield of 3.50%. TEGNA’s dividend payout ratio (DPR) is 17.48%.

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.