Insider Selling: TEGNA Inc. (NYSE:TGNA) CEO Sells $1,376,149.26 in Stock

TEGNA Inc. (NYSE:TGNA) CEO David T. Lougee sold 98,437 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 594,401 shares of the company’s stock, valued at approximately $8,309,725.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

TEGNA Price Performance

Shares of TEGNA stock traded down $0.25 during trading hours on Tuesday, reaching $13.64. The stock had a trading volume of 2,275,845 shares, compared to its average volume of 2,202,719. The stock’s 50 day moving average is $14.14 and its 200 day moving average is $14.54. The firm has a market capitalization of $2.31 billion, a PE ratio of 4.77 and a beta of 0.51. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $17.37. 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 released its earnings results on Wednesday, May 8th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $714.30 million during the quarter, compared to analysts’ expectations of $718.86 million. TEGNA had a net margin of 19.48% and a return on equity of 11.86%. The company’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.47 earnings per share. Equities analysts expect that TEGNA Inc. will post 3.11 earnings per share for the current fiscal year.

TEGNA Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 3.67%. This is a boost from TEGNA’s previous quarterly dividend of $0.11. TEGNA’s payout ratio is currently 17.48%.

Institutional Trading of TEGNA

Several large investors have recently bought and sold shares of TGNA. Parallel Advisors LLC grew its stake in TEGNA by 142.1% during the 4th quarter. Parallel Advisors LLC now owns 1,675 shares of the company’s stock valued at $26,000 after acquiring an additional 983 shares in the last quarter. CWM LLC grew its stake in TEGNA by 389.0% during the 1st quarter. CWM LLC now owns 1,873 shares of the company’s stock valued at $28,000 after acquiring an additional 1,490 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in TEGNA during the 1st quarter valued at about $28,000. Headlands Technologies LLC purchased a new stake in TEGNA during the 1st quarter valued at about $46,000. Finally, EverSource Wealth Advisors LLC grew its stake in TEGNA by 32.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,810 shares of the company’s stock valued at $74,000 after acquiring an additional 1,180 shares in the last quarter. Hedge funds and other institutional investors own 92.19% of the company’s stock.

TEGNA Company 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.