Quest Partners LLC Buys New Position in TEGNA Inc. (NYSE:TGNA)

Quest Partners LLC bought a new stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 69,215 shares of the company's stock, valued at approximately $1,059,000.

Several other institutional investors have also bought and sold shares of the stock. Muhlenkamp & Co. Inc. grew its position in TEGNA by 106.0% in the third quarter. Muhlenkamp & Co. Inc. now owns 431,541 shares of the company's stock worth $6,288,000 after buying an additional 222,103 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in TEGNA by 17.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,294,455 shares of the company's stock valued at $157,506,000 after buying an additional 1,501,986 shares in the last quarter. LSV Asset Management boosted its holdings in shares of TEGNA by 10.0% in the third quarter. LSV Asset Management now owns 4,668,419 shares of the company's stock worth $68,019,000 after buying an additional 424,579 shares during the period. Dark Forest Capital Management LP acquired a new stake in shares of TEGNA during the third quarter valued at approximately $540,000. Finally, Vanguard Group Inc. lifted its position in shares of TEGNA by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 24,582,211 shares of the company's stock valued at $358,163,000 after acquiring an additional 499,171 shares in the last quarter. Institutional investors and hedge funds own 92.19% of the company's stock.

TEGNA Stock Down 0.6 %

NYSE:TGNA traded down $0.09 during mid-day trading on Tuesday, reaching $14.53. The stock had a trading volume of 1,472,117 shares, compared to its average volume of 2,126,327. The business's 50 day moving average is $14.35 and its 200 day moving average is $14.88. TEGNA Inc. has a fifty-two week low of $13.18 and a fifty-two week high of $17.37. The stock has a market cap of $2.46 billion, a P/E ratio of 5.12 and a beta of 0.50. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.53 and a quick ratio of 2.53.

TEGNA (NYSE:TGNA - Get Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. The company had revenue of $714.30 million during the quarter, compared to the consensus estimate of $718.86 million. TEGNA had a return on equity of 11.86% and a net margin of 19.48%. The firm's revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 EPS. As a group, sell-side analysts predict that TEGNA Inc. will post 3.11 earnings per share for the current year.

TEGNA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.44%. This is a boost from TEGNA's previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Friday, June 7th. TEGNA's dividend payout ratio is 16.08%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TGNA shares. Wells Fargo & Company cut their target price on shares of TEGNA from $17.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Friday, February 9th. JPMorgan Chase & Co. reduced their price objective on TEGNA from $17.00 to $15.00 and set a "neutral" rating for the company in a research note on Friday, March 1st. Finally, Benchmark lowered their target price on TEGNA from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Friday, March 1st.

Insider Buying and Selling

In other news, SVP Clifton A. Mcclelland III sold 54,093 shares of the company's stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Clifton A. Mcclelland III sold 54,093 shares of the firm's stock in a transaction dated 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 directly owns 42,602 shares of the company's stock, valued at approximately $672,259.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David T. Lougee sold 32,813 shares of TEGNA stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $15.04, for a total transaction of $493,507.52. Following the sale, the chief executive officer now owns 692,838 shares in the company, valued at $10,420,283.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,656 shares of company stock valued at $1,990,220. 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.