Headlands Technologies LLC Increases Stock Holdings in TEGNA Inc. (NYSE:TGNA)

Headlands Technologies LLC boosted its stake in TEGNA Inc. (NYSE:TGNA) by 48.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,520 shares of the company’s stock after buying an additional 1,470 shares during the quarter. Headlands Technologies LLC’s holdings in TEGNA were worth $63,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of TGNA. Parallel Advisors LLC raised its holdings in shares of TEGNA by 142.1% in the fourth quarter. Parallel Advisors LLC now owns 1,675 shares of the company’s stock valued at $26,000 after purchasing an additional 983 shares during the last quarter. CWM LLC lifted its position in shares of TEGNA by 389.0% during the 1st quarter. CWM LLC now owns 1,873 shares of the company’s stock worth $28,000 after buying an additional 1,490 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of TEGNA in the 1st quarter worth approximately $28,000. Blue Trust Inc. grew its holdings in shares of TEGNA by 247.8% in the second quarter. Blue Trust Inc. now owns 4,702 shares of the company’s stock valued at $70,000 after acquiring an additional 3,350 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of TEGNA by 32.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,810 shares of the company’s stock valued at $74,000 after acquiring an additional 1,180 shares in the last quarter. 92.19% of the stock is currently owned by institutional investors.

TEGNA Stock Up 1.1 %

TEGNA stock opened at $14.45 on Tuesday. The firm has a 50 day moving average price of $14.52 and a 200-day moving average price of $14.29. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.10. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $16.56. The company has a market capitalization of $2.39 billion, a P/E ratio of 5.05 and a beta of 0.49.

TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The business had revenue of $710.36 million during the quarter, compared to analyst estimates of $715.40 million. TEGNA had a return on equity of 11.57% and a net margin of 15.51%. TEGNA’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 earnings per share. As a group, equities analysts predict that TEGNA Inc. will post 3.07 EPS for the current year.

TEGNA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, September 6th. TEGNA’s dividend payout ratio (DPR) is presently 17.48%.

Insiders Place Their Bets

In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $13.88, for a total value of $347,000.00. Following the completion of the transaction, the chief operating officer now directly owns 179,617 shares of the company’s stock, valued at approximately $2,493,083.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO David T. Lougee sold 98,437 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $13.98, for a total value of $1,376,149.26. Following the transaction, the chief executive officer now owns 594,401 shares of the company’s stock, valued at approximately $8,309,725.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $13.88, for a total value of $347,000.00. Following the completion of the transaction, the chief operating officer now directly owns 179,617 shares in the company, valued at approximately $2,493,083.96. The disclosure for this sale can be found here. Insiders sold a total of 123,467 shares of company stock worth $1,723,563 in the last quarter. 0.88% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

TEGNA Company 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.