Leeward Investments LLC MA Sells 15,329 Shares of TEGNA Inc. (NYSE:TGNA)

Leeward Investments LLC MA cut its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 4.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 359,231 shares of the company’s stock after selling 15,329 shares during the quarter. Leeward Investments LLC MA’s holdings in TEGNA were worth $5,367,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TGNA. Parallel Advisors LLC raised its holdings in shares of TEGNA by 142.1% in the 4th quarter. Parallel Advisors LLC now owns 1,675 shares of the company’s stock valued at $26,000 after purchasing an additional 983 shares during the period. CWM LLC grew its stake in TEGNA by 389.0% in the 1st quarter. CWM LLC now owns 1,873 shares of the company’s stock valued at $28,000 after buying an additional 1,490 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in TEGNA by 32.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,810 shares of the company’s stock valued at $74,000 after buying an additional 1,180 shares during the last quarter. Signaturefd LLC grew its stake in TEGNA by 437.5% in the 4th quarter. Signaturefd LLC now owns 9,686 shares of the company’s stock valued at $148,000 after buying an additional 7,884 shares during the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in TEGNA in the 4th quarter valued at about $153,000. 92.19% of the stock is owned by institutional investors.

TEGNA Stock Performance

Shares of NYSE:TGNA traded down $0.07 on Friday, reaching $13.93. 28,711 shares of the company’s stock were exchanged, compared to its average volume of 2,175,878. The company has a fifty day moving average of $14.15 and a 200-day moving average of $14.52. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $17.37. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 4.90 and a beta of 0.51. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 1.10.

TEGNA (NYSE:TGNA) last announced its earnings results on Wednesday, May 8th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $714.30 million for the quarter, compared to analyst estimates of $718.86 million. TEGNA had a net margin of 19.48% and a return on equity of 11.86%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.47 EPS. On average, research analysts predict that TEGNA Inc. will post 3.11 EPS for the current fiscal year.

TEGNA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were paid a dividend of $0.125 per share. The ex-dividend date was Friday, June 7th. This represents a $0.50 annualized dividend and a dividend yield of 3.59%. This is an increase from TEGNA’s previous quarterly dividend of $0.11. TEGNA’s dividend payout ratio (DPR) is presently 17.48%.

Insider Activity

In other news, CEO David T. Lougee sold 98,437 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $13.98, for a total transaction of $1,376,149.26. Following the completion of the transaction, the chief executive officer now owns 594,401 shares of the company’s stock, valued at $8,309,725.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Clifton A. Mcclelland III sold 54,093 shares of TEGNA stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $15.78, for a total transaction of $853,587.54. Following the completion of the transaction, the senior vice president now owns 42,602 shares of the company’s stock, valued at $672,259.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David T. Lougee sold 98,437 shares of TEGNA stock in a transaction on Monday, July 1st. The stock was sold at an average price of $13.98, for a total transaction of $1,376,149.26. Following the transaction, the chief executive officer now directly owns 594,401 shares of the company’s stock, valued at approximately $8,309,725.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 210,343 shares of company stock valued at $3,072,994. 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.