TEGNA Inc’s recent filing unveils that its President and CEO Lougee David T unloaded Company’s shares for reported $0.64 million on Apr 01 ’24. In the deal valued at $14.70 per share,43,750 shares were sold. As a result of this transaction, Lougee David T now holds 725,651 shares worth roughly $10.31 million.
Then, Fisher Newberg Lauren sold 8,477 shares, generating $127,155 in total proceeds. Upon selling the shares at $15.00, the SVP and Chief Legal Officer now owns 1 shares.
Before that, Lougee David T sold 150,000 shares. TEGNA Inc shares valued at $2,281,500 were divested by the President and CEO at a price of $15.21 per share. As a result of the transaction, Lougee David T now holds 636,262 shares, worth roughly $9.04 million.
A number of analysts have revised their coverage, including Wells Fargo’s analysts, who decreased its forecast for the stock in early May from “an Overweight” to “an Equal weight”. Argus also remained covering TGNA and has decreased its forecast on April 13, 2022 with a “Hold” recommendation from previously “Buy” rating. Barrington Research revised its rating on September 22, 2021. It rated TGNA as “a Mkt perform” which previously was an “an Outperform”.
Price Performance Review of TGNA
On Friday, TEGNA Inc [NYSE:TGNA] saw its stock fall -0.21% to $14.21. Over the last five days, the stock has lost -4.89%. TEGNA Inc shares have fallen nearly -7.12% since the year began. Nevertheless, the stocks have fallen -13.83% over the past one year. While a 52-week high of $17.37 was reached on 01/29/24, a 52-week low of $13.40 was recorded on 02/29/24. SMA at 50 days reached $14.61, while 200 days put it at $15.35. A total of 1.8 million shares were traded, compared to the trading of 1.22 million shares in the previous session.
Levels Of Support And Resistance For TGNA Stock
The 24-hour chart illustrates a support level at 14.11, which if violated will result in even more drops to 14.01. On the upside, there is a resistance level at 14.28. A further resistance level may holdings at 14.35. The Relative Strength Index (RSI) on the 14-day chart is 44.28, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.13, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 76.47%. Stochastics %K at 28.85% indicates the stock is a holding.
How much short interest is there in TEGNA Inc?
A steep rise in short interest was recorded in TEGNA Inc stocks on Mar 15, 2024, growing by 0.33 million shares to a total of 6.56 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 6.23 million shares. There was a rise of 5.03%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 5.33% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.32.
