Amalgamated Bank Has $774,000 Position in TEGNA Inc. (NYSE:TGNA)

Amalgamated Bank cut its position in TEGNA Inc. (NYSE:TGNA) by 40.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,062 shares of the company’s stock after selling 33,474 shares during the quarter. Amalgamated Bank’s holdings in TEGNA were worth $774,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TGNA. Miller Howard Investments Inc. NY increased its position in TEGNA by 1.8% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 42,031 shares of the company’s stock worth $586,000 after purchasing an additional 726 shares in the last quarter. US Bancorp DE increased its position in TEGNA by 20.4% during the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company’s stock worth $71,000 after purchasing an additional 764 shares in the last quarter. Manchester Financial Inc. increased its position in TEGNA by 0.9% during the 2nd quarter. Manchester Financial Inc. now owns 118,202 shares of the company’s stock worth $1,648,000 after purchasing an additional 1,047 shares in the last quarter. O Keefe Stevens Advisory Inc. increased its position in TEGNA by 7.4% during the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 16,024 shares of the company’s stock worth $223,000 after purchasing an additional 1,099 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in TEGNA by 3.0% during the 1st quarter. ProShare Advisors LLC now owns 45,113 shares of the company’s stock worth $674,000 after purchasing an additional 1,306 shares in the last quarter. 92.19% of the stock is currently owned by institutional investors and hedge funds.

TEGNA Trading Down 2.6 %

TGNA opened at $17.64 on Friday. TEGNA Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $19.62. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 6.23 and a beta of 0.49. The company’s 50 day moving average price is $16.05 and its two-hundred day moving average price is $14.95.

TEGNA (NYSE:TGNA) last posted its earnings results on Thursday, November 7th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The firm had revenue of $806.83 million for the quarter, compared to analyst estimates of $795.72 million. During the same period in the previous year, the firm posted $0.39 EPS. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, research analysts predict that TEGNA Inc. will post 3.08 earnings per share for the current year.

Analyst Ratings Changes

TGNA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday. StockNews.com raised shares of TEGNA from a “hold” rating to a “buy” rating in a report on Friday. Finally, Benchmark boosted their target price on shares of TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 8th.

Insider Activity

In other news, COO Lynn B. Trelstad sold 25,000 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $16.40, for a total value of $410,000.00. Following the sale, the chief operating officer now directly owns 154,617 shares of the company’s stock, valued at approximately $2,535,718.80. This represents a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.88% of the company’s stock.

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.