Tegna Inc (NYSE:TGNA) Director Neal Shapiro sold 12,385 shares of the business’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $12.57, for a total transaction of $155,679.45. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of Tegna Inc (TGNA) traded up $0.02 on Friday, reaching $12.56. The company had a trading volume of 2,753,648 shares, compared to its average volume of 2,173,291. The company has a debt-to-equity ratio of 3.02, a current ratio of 1.96 and a quick ratio of 1.96. The firm has a market capitalization of $2,740.31, a P/E ratio of 5.90, a price-to-earnings-growth ratio of 6.02 and a beta of 1.55. Tegna Inc has a 52-week low of $11.59 and a 52-week high of $16.83.
Tegna (NYSE:TGNA) last announced its quarterly earnings results on Thursday, March 1st. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. The firm had revenue of $480.45 million during the quarter, compared to the consensus estimate of $491.79 million. Tegna had a return on equity of 19.56% and a net margin of 20.74%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 earnings per share. equities research analysts predict that Tegna Inc will post 1.71 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Thursday, March 8th. Tegna’s dividend payout ratio is currently 13.15%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its stake in Tegna by 1.4% in the fourth quarter. BlackRock Inc. now owns 17,786,042 shares of the company’s stock valued at $250,427,000 after buying an additional 242,376 shares during the last quarter. Fairpointe Capital LLC lifted its stake in Tegna by 10.9% in the fourth quarter. Fairpointe Capital LLC now owns 11,373,812 shares of the company’s stock valued at $160,143,000 after buying an additional 1,119,057 shares during the last quarter. Schroder Investment Management Group lifted its stake in Tegna by 104.7% in the fourth quarter. Schroder Investment Management Group now owns 7,802,625 shares of the company’s stock valued at $109,861,000 after buying an additional 3,991,060 shares during the last quarter. Ariel Investments LLC lifted its stake in Tegna by 22.9% in the fourth quarter. Ariel Investments LLC now owns 7,500,773 shares of the company’s stock valued at $105,611,000 after buying an additional 1,395,820 shares during the last quarter. Finally, Evercore Trust Company N.A. purchased a new stake in Tegna in the third quarter valued at approximately $56,674,000. Institutional investors own 99.91% of the company’s stock.
A number of brokerages have recently commented on TGNA. Noble Financial reissued a “buy” rating on shares of Tegna in a research report on Tuesday, December 19th. ValuEngine raised Tegna from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Wells Fargo raised Tegna from a “market perform” rating to an “outperform” rating and set a $19.00 price objective for the company in a research report on Thursday, January 4th. Zacks Investment Research downgraded Tegna from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Finally, Benchmark reissued a “buy” rating and set a $19.00 price objective on shares of Tegna in a research report on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $15.63.
COPYRIGHT VIOLATION NOTICE: This piece of content was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece of content on another website, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/03/16/insider-selling-tegna-inc-tgna-director-sells-12385-shares-of-stock.html.
Tegna Company Profile
Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
Receive News & Ratings for Tegna Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tegna and related companies with MarketBeat.com's FREE daily email newsletter.