TEGNA (NYSE:TGNA) Sets New 12-Month High – Time to Buy?

TEGNA Inc. (NYSE:TGNA) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $17.39 and last traded at $17.13, with a volume of 9160 shares changing hands. The stock had previously closed at $16.06.

Analyst Ratings Changes

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

TEGNA Stock Up 11.1 %

The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.58 and a current ratio of 2.58. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 6.63 and a beta of 0.49. The business’s 50 day moving average is $15.32 and its 200 day moving average is $14.70.

TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $710.36 million for 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 business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. Sell-side analysts anticipate that TEGNA Inc. will post 3.07 earnings per share for the current year.

Insider Buying and Selling at TEGNA

In related news, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $16.40, for a total value of $410,000.00. Following the transaction, the chief operating officer now owns 154,617 shares in the company, valued at approximately $2,535,718.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 50,016 shares of company stock worth $757,218. 0.88% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TEGNA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC purchased a new position in shares of TEGNA during the 1st quarter valued at approximately $28,000. Harbor Capital Advisors Inc. purchased a new position in TEGNA in the third quarter valued at $28,000. Headlands Technologies LLC acquired a new position in shares of TEGNA in the first quarter worth about $46,000. CWM LLC boosted its stake in shares of TEGNA by 146.3% during the 2nd quarter. CWM LLC now owns 4,614 shares of the company’s stock worth $64,000 after acquiring an additional 2,741 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of TEGNA by 247.8% during the 2nd quarter. Blue Trust Inc. now owns 4,702 shares of the company’s stock valued at $70,000 after acquiring an additional 3,350 shares during the period. 92.19% of the stock is owned by institutional investors and hedge funds.

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.