Mutual of America Capital Management LLC Sells 106,609 Shares of TEGNA Inc. (NYSE:TGNA)

Mutual of America Capital Management LLC lowered its holdings in TEGNA Inc. (NYSE:TGNA) by 21.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 379,465 shares of the company’s stock after selling 106,609 shares during the period. Mutual of America Capital Management LLC’s holdings in TEGNA were worth $5,988,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Harbor Capital Advisors Inc. purchased a new position in TEGNA during the 3rd quarter valued at about $28,000. US Bancorp DE grew its stake in 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 acquiring an additional 764 shares in the last quarter. Headlands Technologies LLC increased its holdings in TEGNA by 48.2% during the 2nd quarter. Headlands Technologies LLC now owns 4,520 shares of the company’s stock worth $63,000 after acquiring an additional 1,470 shares during the period. CWM LLC lifted its stake in TEGNA by 146.3% in the 2nd quarter. CWM LLC now owns 4,614 shares of the company’s stock worth $64,000 after purchasing an additional 2,741 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in TEGNA by 247.8% in the 2nd 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 during the period. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on TGNA shares. StockNews.com raised shares of TEGNA from a “hold” rating to a “buy” rating in a report on Friday, November 15th. JPMorgan Chase & Co. raised their price target on TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Finally, Benchmark lifted their price target on TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 8th.

Insider Buying and Selling at TEGNA

In other TEGNA 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 transaction of $347,000.00. Following the completion of the sale, the chief operating officer now directly owns 179,617 shares in the company, valued at $2,493,083.96. This represents a 12.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.88% of the company’s stock.

TEGNA Stock Up 1.2 %

Shares of NYSE:TGNA opened at $17.88 on Wednesday. The firm has a market capitalization of $2.88 billion, a PE ratio of 6.32 and a beta of 0.49. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. TEGNA Inc. has a 52-week low of $12.35 and a 52-week high of $19.62. The firm has a fifty day moving average of $16.20 and a 200 day moving average of $15.01.

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

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.