Kendall Capital Management Has $1.14 Million Stake in TEGNA Inc. (NYSE:TGNA)

Kendall Capital Management trimmed its position in shares of TEGNA Inc. (NYSE:TGNA) by 9.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,537 shares of the company’s stock after selling 8,740 shares during the period. Kendall Capital Management’s holdings in TEGNA were worth $1,137,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TGNA. Vanguard Group Inc. lifted its holdings in shares of TEGNA by 5.8% in the first quarter. Vanguard Group Inc. now owns 26,798,623 shares of the company’s stock worth $400,371,000 after acquiring an additional 1,471,691 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of TEGNA by 1.4% in the second quarter. Dimensional Fund Advisors LP now owns 10,309,749 shares of the company’s stock worth $143,714,000 after acquiring an additional 141,638 shares during the last quarter. LSV Asset Management lifted its holdings in shares of TEGNA by 29.5% in the second quarter. LSV Asset Management now owns 8,024,562 shares of the company’s stock worth $111,862,000 after acquiring an additional 1,827,471 shares during the last quarter. Norges Bank bought a new position in shares of TEGNA in the fourth quarter worth about $38,009,000. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of TEGNA by 18.7% in the first quarter. Gamco Investors INC. ET AL now owns 2,441,675 shares of the company’s stock worth $36,479,000 after acquiring an additional 384,687 shares during the last quarter. 92.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at TEGNA

In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were 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 owns 179,617 shares of the company’s stock, valued at approximately $2,493,083.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were 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 owns 179,617 shares of the company’s stock, valued at approximately $2,493,083.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $13.98, for a total transaction 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 approximately $8,309,725.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,467 shares of company stock valued at $1,723,563. 0.88% of the stock is currently owned by company insiders.

TEGNA Stock Up 2.1 %

Shares of NYSE TGNA opened at $15.14 on Thursday. The company has a 50 day simple moving average of $14.57 and a 200 day simple moving average of $14.31. The firm has a market cap of $2.57 billion, a PE ratio of 5.29 and a beta of 0.49. TEGNA Inc. has a 1 year low of $12.35 and a 1 year high of $16.56. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.58 and a quick ratio of 2.58.

TEGNA (NYSE:TGNA) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 15.51% and a return on equity of 11.57%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the business earned $0.44 EPS. On average, research analysts forecast that TEGNA Inc. will post 3.07 EPS for the current year.

TEGNA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Friday, September 6th. TEGNA’s dividend payout ratio is presently 17.48%.

Wall Street Analysts Forecast Growth

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

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.