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

Capital Management Corp VA boosted its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 30.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 725,805 shares of the company’s stock after acquiring an additional 168,667 shares during the quarter. TEGNA accounts for about 2.0% of Capital Management Corp VA’s portfolio, making the stock its 19th largest position. Capital Management Corp VA owned 0.43% of TEGNA worth $11,453,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TGNA. State of Michigan Retirement System grew its holdings in TEGNA by 2.3% during the 1st quarter. State of Michigan Retirement System now owns 48,371 shares of the company’s stock worth $723,000 after acquiring an additional 1,100 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of TEGNA by 122.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 224,159 shares of the company’s stock worth $3,564,000 after purchasing an additional 123,249 shares during the period. BNP Paribas Financial Markets lifted its position in shares of TEGNA by 108.6% in the 1st quarter. BNP Paribas Financial Markets now owns 350,933 shares of the company’s stock worth $5,243,000 after purchasing an additional 182,693 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of TEGNA in the 1st quarter worth approximately $28,000. Finally, Central Pacific Bank Trust Division acquired a new position in shares of TEGNA in the 1st quarter worth approximately $201,000. 92.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

TEGNA Stock Down 0.9 %

TEGNA stock opened at $16.15 on Tuesday. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.10. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $17.08. The firm’s fifty day moving average is $15.28 and its 200 day moving average is $14.68. The company has a market capitalization of $2.67 billion, a PE ratio of 6.67 and a beta of 0.49.

TEGNA (NYSE:TGNA) last released its earnings results 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. TEGNA had a net margin of 15.51% and a return on equity of 11.57%. The company had revenue of $710.36 million for the quarter, compared to the consensus estimate of $715.40 million. During the same quarter in the previous year, the company earned $0.44 EPS. TEGNA’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, sell-side analysts predict that TEGNA Inc. will post 3.07 EPS for the current fiscal year.

Insider Activity at TEGNA

In related news, COO Lynn B. Trelstad sold 25,000 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $16.40, for a total transaction of $410,000.00. Following the transaction, the chief operating officer now owns 154,617 shares in the company, valued at $2,535,718.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 50,016 shares of company stock worth $757,218 in the last quarter. Company insiders own 0.88% of the company’s stock.

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.