New York State Teachers Retirement System Sells 29,253 Shares of TEGNA Inc. (NYSE:TGNA)

New York State Teachers Retirement System reduced its stake in shares of TEGNA Inc. (NYSE:TGNA) by 10.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 249,161 shares of the company’s stock after selling 29,253 shares during the period. New York State Teachers Retirement System owned about 0.15% of TEGNA worth $3,932,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fidelis Capital Partners LLC bought a new stake in TEGNA during the first quarter worth $28,000. Headlands Technologies LLC bought a new stake in shares of TEGNA in the 1st quarter worth $46,000. CWM LLC raised its holdings in shares of TEGNA by 146.3% in the second quarter. CWM LLC now owns 4,614 shares of the company’s stock valued at $64,000 after purchasing an additional 2,741 shares during the last quarter. Blue Trust Inc. lifted its position in shares of TEGNA by 247.8% during the second quarter. Blue Trust Inc. now owns 4,702 shares of the company’s stock valued at $70,000 after purchasing an additional 3,350 shares in the last quarter. Finally, Innealta Capital LLC purchased a new position in TEGNA during the second quarter worth about $116,000. 92.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 154,617 shares in the company, valued at $2,535,718.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 50,016 shares of company stock valued at $757,218 in the last three months. Company insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

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

TEGNA Stock Up 11.6 %

Shares of NYSE:TGNA opened at $17.93 on Thursday. TEGNA Inc. has a 1 year low of $12.35 and a 1 year high of $18.00. The company has a market capitalization of $2.97 billion, a PE ratio of 7.41 and a beta of 0.49. The business has a fifty day moving average price of $15.40 and a two-hundred day moving average price of $14.72. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.58 and a quick ratio of 2.58.

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. Analysts forecast that TEGNA Inc. will post 3.07 earnings per share 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.