Pentwater Capital Management LP lessened its stake in shares of Tegna Inc (NYSE:TGNA) by 45.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 130,000 shares of the company’s stock after selling 110,000 shares during the quarter. Pentwater Capital Management LP owned approximately 0.06% of Tegna worth $1,733,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in Tegna by 90.5% in the second quarter. Victory Capital Management Inc. now owns 12,895,698 shares of the company’s stock worth $185,828,000 after acquiring an additional 6,127,293 shares during the period. Canyon Capital Advisors LLC purchased a new stake in Tegna in the second quarter worth $82,306,000. BlackRock Inc. lifted its stake in Tegna by 32.2% in the second quarter. BlackRock Inc. now owns 17,593,214 shares of the company’s stock worth $253,518,000 after acquiring an additional 4,286,497 shares during the period. Evercore Trust Company N.A. purchased a new stake in Tegna in the third quarter worth $56,674,000. Finally, Artisan Partners Limited Partnership lifted its stake in Tegna by 126.6% in the second quarter. Artisan Partners Limited Partnership now owns 5,849,357 shares of the company’s stock worth $84,289,000 after acquiring an additional 3,268,362 shares during the period. 99.89% of the stock is owned by hedge funds and other institutional investors.

In other Tegna news, SVP Clifton A. Mcclelland III sold 7,740 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $13.69, for a total value of $105,960.60. Following the completion of the transaction, the senior vice president now owns 32,335 shares in the company, valued at $442,666.15. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Todd A. Mayman sold 36,830 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $12.63, for a total value of $465,162.90. Following the completion of the transaction, the executive vice president now owns 19,420 shares of the company’s stock, valued at approximately $245,274.60. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.

Tegna Inc (NYSE:TGNA) traded down $0.12 on Monday, reaching $13.63. The company’s stock had a trading volume of 2,625,000 shares, compared to its average volume of 3,515,107. The company has a debt-to-equity ratio of 4.30, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market capitalization of $2,933.25, a P/E ratio of 8.57, a price-to-earnings-growth ratio of 10.36 and a beta of 1.72. Tegna Inc has a twelve month low of $11.59 and a twelve month high of $17.08.

Tegna (NYSE:TGNA) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The business had revenue of $464.26 million during the quarter, compared to the consensus estimate of $463.23 million. Tegna had a return on equity of 20.50% and a net margin of 11.10%. The firm’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 earnings per share. sell-side analysts predict that Tegna Inc will post 1.07 EPS for the current fiscal year.

Tegna declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, September 19th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to repurchase up to 11.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be issued a $0.07 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.28 dividend on an annualized basis and a yield of 2.05%. Tegna’s dividend payout ratio (DPR) is 20.90%.

A number of brokerages recently commented on TGNA. BidaskClub lowered Tegna from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. ValuEngine raised Tegna from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research lowered Tegna from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Jefferies Group reaffirmed a “hold” rating and issued a $14.00 price target on shares of Tegna in a research note on Monday, October 16th. Finally, Royal Bank Of Canada began coverage on Tegna in a research note on Tuesday, September 26th. They issued a “sector perform” rating and a $14.00 price target for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $17.88.

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About Tegna

Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.

Institutional Ownership by Quarter for Tegna (NYSE:TGNA)

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