Allspring Global Investments Holdings LLC Sells 47,278 Shares of TEGNA Inc. (NYSE:TGNA)

Allspring Global Investments Holdings LLC reduced its position in shares of TEGNA Inc. (NYSE:TGNA) by 79.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,887 shares of the company’s stock after selling 47,278 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in TEGNA were worth $188,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of TEGNA by 370.9% during the third quarter. Blue Trust Inc. now owns 22,141 shares of the company’s stock valued at $349,000 after acquiring an additional 17,439 shares during the last quarter. AlphaMark Advisors LLC bought a new position in TEGNA during the 3rd quarter valued at approximately $373,000. Creative Planning lifted its holdings in TEGNA by 10.8% in the 3rd quarter. Creative Planning now owns 53,240 shares of the company’s stock worth $840,000 after buying an additional 5,192 shares during the period. CWM LLC increased its stake in shares of TEGNA by 1,293.2% during the third quarter. CWM LLC now owns 64,283 shares of the company’s stock valued at $1,014,000 after buying an additional 59,669 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in TEGNA in the third quarter worth $626,000. Hedge funds and other institutional investors own 92.19% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Benchmark reaffirmed a “buy” rating and issued a $21.00 target price on shares of TEGNA in a research report on Thursday, August 8th.

TEGNA Trading Down 0.9 %

TGNA opened at $16.29 on Monday. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.10. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $17.08. The stock has a market cap of $2.69 billion, a PE ratio of 6.73 and a beta of 0.49. The business has a 50 day moving average of $15.25 and a 200-day moving average of $14.65.

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

Insiders Place Their Bets

In other news, COO Lynn B. Trelstad sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $16.40, for a total value of $410,000.00. Following the sale, the chief operating officer now directly owns 154,617 shares of the company’s stock, valued at $2,535,718.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 50,016 shares of company stock worth $757,218. 0.88% of the stock is currently owned by company 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.