Crossmark Global Holdings Inc. Cuts Holdings in TEGNA Inc. (NYSE:TGNA)

Crossmark Global Holdings Inc. decreased its position in TEGNA Inc. (NYSE:TGNA) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 522,220 shares of the company’s stock after selling 7,441 shares during the period. Crossmark Global Holdings Inc.’s holdings in TEGNA were worth $9,551,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of TGNA. Harbor Capital Advisors Inc. bought a new position in shares of TEGNA in the third quarter valued at approximately $28,000. GAMMA Investing LLC boosted its position in TEGNA by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock worth $37,000 after purchasing an additional 757 shares during the last quarter. Quarry LP grew its stake in TEGNA by 455.2% in the 3rd quarter. Quarry LP now owns 4,025 shares of the company’s stock valued at $64,000 after purchasing an additional 3,300 shares during the period. US Bancorp DE increased its position in shares of TEGNA by 20.4% during the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company’s stock valued at $71,000 after purchasing an additional 764 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of TEGNA during the 3rd quarter worth $133,000. Institutional investors own 92.19% of the company’s stock.

Insider Activity

In other news, COO Lynn B. Trelstad sold 25,000 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $16.40, for a total transaction of $410,000.00. Following the completion of the transaction, the chief operating officer now directly owns 154,617 shares in the company, valued at $2,535,718.80. The trade was a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.88% of the company’s stock.

TEGNA Price Performance

Shares of NYSE:TGNA opened at $17.84 on Wednesday. The firm has a market capitalization of $2.87 billion, a PE ratio of 6.30 and a beta of 0.52. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. The company has a 50-day moving average price of $18.39 and a two-hundred day moving average price of $16.36. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $19.62.

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

TEGNA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Friday, December 6th. TEGNA’s payout ratio is presently 17.67%.

Wall Street Analysts Forecast Growth

TGNA has been the subject of several research reports. Wells Fargo & Company upgraded shares of TEGNA from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $21.00 to $23.00 in a research report on Thursday, December 19th. Benchmark increased their target price on shares of TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 8th. StockNews.com raised shares of TEGNA from a “hold” rating to a “buy” rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. increased their price objective on TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th.

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.