Capital Management Corp VA Acquires 168,667 Shares of TEGNA Inc. (NYSE:TGNA)

Capital Management Corp VA raised its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 30.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 725,805 shares of the company’s stock after purchasing an additional 168,667 shares during the quarter. TEGNA accounts for approximately 2.0% of Capital Management Corp VA’s portfolio, making the stock its 19th largest position. Capital Management Corp VA’s holdings in TEGNA were worth $11,453,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TGNA. Fidelis Capital Partners LLC bought a new stake in shares of TEGNA in the 1st quarter worth $28,000. Harbor Capital Advisors Inc. bought a new stake in shares of TEGNA in the 3rd quarter worth $28,000. Headlands Technologies LLC bought a new stake in shares of TEGNA in the 1st quarter worth $46,000. CWM LLC grew its stake in shares of TEGNA by 146.3% in the 2nd quarter. CWM LLC now owns 4,614 shares of the company’s stock worth $64,000 after acquiring an additional 2,741 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of 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 acquiring an additional 3,350 shares in the last quarter. Institutional investors own 92.19% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at TEGNA

In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $16.40, for a total transaction of $410,000.00. Following the sale, the chief operating officer now directly owns 154,617 shares of the company’s stock, valued at $2,535,718.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 50,016 shares of company stock valued at $757,218 over the last three months. 0.88% of the stock is currently owned by insiders.

TEGNA Price Performance

TGNA opened at $16.15 on Tuesday. The firm has a market cap of $2.67 billion, a P/E ratio of 6.67 and a beta of 0.49. The firm has a 50-day moving average of $15.28 and a 200 day moving average of $14.68. The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.58 and a current ratio of 2.58. TEGNA Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $17.08.

TEGNA (NYSE:TGNA) last posted its quarterly earnings results 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 company 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 revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 earnings per share. On average, research analysts expect that TEGNA Inc. will post 3.07 EPS for the current year.

TEGNA 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.