TEGNA (NYSE:TGNA) Hits New 1-Year High – Should You Buy?

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

Analyst Upgrades and Downgrades

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

TEGNA Stock Up 11.1 %

The company has a market cap of $2.95 billion, a P/E ratio of 6.63 and a beta of 0.49. The business’s fifty day moving average is $15.32 and its two-hundred day moving average is $14.70. The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.58 and a current ratio of 2.58.

TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $710.36 million for the quarter, compared to analysts’ expectations of $715.40 million. TEGNA had a return on equity of 11.57% and a net margin of 15.51%. TEGNA’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 earnings per share. Equities analysts predict that TEGNA Inc. will post 3.07 EPS for the current year.

Insider Activity

In related news, COO Lynn B. Trelstad sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $13.88, for a total value of $347,000.00. Following the completion of the sale, the chief operating officer now directly owns 179,617 shares of the company’s stock, valued at $2,493,083.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 50,016 shares of company stock worth $757,218. Company insiders own 0.88% of the company’s stock.

Institutional Trading of TEGNA

A number of hedge funds have recently bought and sold shares of the stock. Miller Howard Investments Inc. NY raised its position in shares of TEGNA by 1.8% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 42,031 shares of the company’s stock worth $586,000 after acquiring an additional 726 shares in the last quarter. US Bancorp DE lifted its position in shares of TEGNA by 20.4% during the third quarter. US Bancorp DE now owns 4,503 shares of the company’s stock valued at $71,000 after buying an additional 764 shares during the last quarter. Manchester Financial Inc. boosted its holdings in shares of TEGNA by 0.9% in the 2nd quarter. Manchester Financial Inc. now owns 118,202 shares of the company’s stock valued at $1,648,000 after buying an additional 1,047 shares in the last quarter. O Keefe Stevens Advisory Inc. grew its position in shares of TEGNA by 7.4% in the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 16,024 shares of the company’s stock worth $223,000 after buying an additional 1,099 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of TEGNA by 3.0% during the 1st quarter. ProShare Advisors LLC now owns 45,113 shares of the company’s stock worth $674,000 after acquiring an additional 1,306 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.