Sculati Wealth Management LLC Purchases 5,330 Shares of TEGNA Inc. (NYSE:TGNA)

Sculati Wealth Management LLC grew its holdings in TEGNA Inc. (NYSE:TGNA) by 11.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,435 shares of the company’s stock after acquiring an additional 5,330 shares during the quarter. Sculati Wealth Management LLC’s holdings in TEGNA were worth $768,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TGNA. Pacer Advisors Inc. increased its stake in TEGNA by 2,898.4% during the 3rd quarter. Pacer Advisors Inc. now owns 10,806,130 shares of the company’s stock worth $170,521,000 after acquiring an additional 10,445,739 shares during the period. LSV Asset Management grew its holdings in shares of TEGNA by 29.5% during the 2nd quarter. LSV Asset Management now owns 8,024,562 shares of the company’s stock worth $111,862,000 after purchasing an additional 1,827,471 shares in the last quarter. Millennium Management LLC increased its position in shares of TEGNA by 395.9% in the second quarter. Millennium Management LLC now owns 930,722 shares of the company’s stock worth $12,974,000 after purchasing an additional 743,052 shares during the period. Empowered Funds LLC raised its stake in TEGNA by 757.4% in the third quarter. Empowered Funds LLC now owns 662,417 shares of the company’s stock valued at $10,453,000 after purchasing an additional 585,156 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in TEGNA by 132.9% during the second quarter. Squarepoint Ops LLC now owns 916,760 shares of the company’s stock worth $12,780,000 after purchasing an additional 523,120 shares during the period. 92.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on TGNA. Benchmark raised their target price on shares of TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on shares of TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Finally, StockNews.com cut TEGNA from a “buy” rating to a “hold” rating in a research note on Saturday, November 23rd.

TEGNA Stock Down 0.8 %

TGNA stock opened at $18.68 on Thursday. The firm has a 50-day moving average price of $17.39 and a 200-day moving average price of $15.44. TEGNA Inc. has a 12 month low of $12.35 and a 12 month high of $19.62. 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 stock has a market capitalization of $3.01 billion, a P/E ratio of 6.60 and a beta of 0.52.

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

TEGNA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.50 dividend on an annualized basis and a yield of 2.68%. TEGNA’s dividend payout ratio is currently 17.67%.

Insider Buying and Selling

In related news, COO Lynn B. Trelstad sold 25,000 shares of TEGNA stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 154,617 shares in the company, valued at $2,535,718.80. This trade represents a 13.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

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.