AlphaMark Advisors LLC Makes New $373,000 Investment in TEGNA Inc. (NYSE:TGNA)

AlphaMark Advisors LLC bought a new stake in shares of TEGNA Inc. (NYSE:TGNA) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 23,621 shares of the company’s stock, valued at approximately $373,000.

A number of other hedge funds also recently modified their holdings of TGNA. Vanguard Group Inc. boosted its holdings in shares of TEGNA by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 25,326,932 shares of the company’s stock worth $387,502,000 after purchasing an additional 744,721 shares during the period. Seven Eight Capital LP acquired a new position in shares of TEGNA in the first quarter worth $2,526,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of TEGNA by 122.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 224,159 shares of the company’s stock worth $3,564,000 after acquiring an additional 123,249 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of TEGNA by 1.4% during 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 in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in TEGNA by 26.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,330,866 shares of the company’s stock worth $35,662,000 after purchasing an additional 484,658 shares during the last quarter. Hedge funds and other institutional investors own 92.19% of the company’s stock.

TEGNA Price Performance

NYSE TGNA opened at $16.68 on Friday. TEGNA Inc. has a 1 year low of $12.35 and a 1 year high of $16.68. The company has a fifty day simple moving average of $14.59 and a 200 day simple moving average of $14.45. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.10. The company has a market cap of $2.83 billion, a P/E ratio of 5.83 and a beta of 0.50.

TEGNA (NYSE:TGNA) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. TEGNA had a return on equity of 11.57% and a net margin of 15.51%. The company had revenue of $710.36 million for the quarter, compared to the consensus estimate of $715.40 million. During the same period last year, the business posted $0.44 earnings per share. The firm’s revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts predict that TEGNA Inc. will post 3.07 EPS for the current year.

TEGNA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a dividend of $0.125 per share. The ex-dividend date was Friday, September 6th. This represents a $0.50 annualized dividend and a yield of 3.00%. TEGNA’s dividend payout ratio is 17.48%.

Analysts Set New Price Targets

Separately, Benchmark reiterated a “buy” rating and issued a $21.00 price objective on shares of TEGNA in a 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 business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $13.88, for a total value of $347,000.00. Following the transaction, the chief operating officer now directly owns 179,617 shares in the company, valued at $2,493,083.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.88% of the company’s stock.

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.