Symmetry Investments LP Makes New Investment in TEGNA Inc. (NYSE:TGNA)

Symmetry Investments LP bought a new stake in TEGNA Inc. (NYSE:TGNA) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 19,655 shares of the company’s stock, valued at approximately $274,000.

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

Insider Transactions at TEGNA

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

Analyst Upgrades and Downgrades

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

TEGNA Trading Down 0.3 %

NYSE:TGNA opened at $15.16 on Friday. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $16.56. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 5.30 and a beta of 0.49. The company’s 50 day moving average price is $14.58 and its 200-day moving average price is $14.33. 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 (NYSE:TGNA) last posted its earnings results on Wednesday, August 7th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. TEGNA had a return on equity of 11.57% and a net margin of 15.51%. The business had revenue of $710.36 million during the quarter, compared to analyst estimates of $715.40 million. During the same quarter last year, the company earned $0.44 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities research analysts forecast that TEGNA Inc. will post 3.07 earnings per share for the current fiscal 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 issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Friday, September 6th. TEGNA’s payout ratio is presently 17.48%.

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.