World Investment Advisors LLC Takes $528,000 Position in TEGNA Inc. (NYSE:TGNA)

World Investment Advisors LLC bought a new stake in shares of TEGNA Inc. (NYSE:TGNA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 33,488 shares of the company’s stock, valued at approximately $528,000.

Several other hedge funds have also recently made changes to their positions in TGNA. CWM LLC increased its stake in shares of TEGNA by 146.3% during the second quarter. CWM LLC now owns 4,614 shares of the company’s stock valued at $64,000 after buying an additional 2,741 shares during the period. Blue Trust Inc. boosted 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. Bailard Inc. bought a new stake in shares of TEGNA during the second quarter valued at approximately $302,000. Miller Howard Investments Inc. NY boosted its position in shares of TEGNA by 1.8% during the second quarter. Miller Howard Investments Inc. NY now owns 42,031 shares of the company’s stock valued at $586,000 after purchasing an additional 726 shares in the last quarter. Finally, Innealta Capital LLC bought a new stake in shares of TEGNA during the second quarter valued at approximately $116,000. 92.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TGNA shares. JPMorgan Chase & Co. lifted their price target on TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. StockNews.com upgraded TEGNA from a “hold” rating to a “buy” rating in a research report on Friday, December 13th. Finally, Benchmark boosted their target price on TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 8th.

TEGNA Trading Down 1.8 %

TEGNA stock opened at $18.11 on Wednesday. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07. The business’s fifty day simple moving average is $17.58 and its two-hundred day simple moving average is $15.54. TEGNA Inc. has a 12 month low of $12.35 and a 12 month high of $19.62. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 6.40 and a beta of 0.52.

TEGNA (NYSE:TGNA) last released its earnings results on Thursday, November 7th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.83 by $0.11. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The business had revenue of $806.83 million for the quarter, compared to the consensus estimate of $795.72 million. During the same period in the previous year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, equities analysts predict that TEGNA Inc. will post 3.02 earnings per share for the current fiscal year.

TEGNA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, December 6th. TEGNA’s payout ratio is currently 17.67%.

Insider Activity

In other news, COO Lynn B. Trelstad sold 25,000 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $16.40, for a total transaction of $410,000.00. Following the transaction, the chief operating officer now directly owns 154,617 shares of the company’s stock, valued at $2,535,718.80. This represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate 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.