The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. TEGNA Inc shares valued at $349,750 were sold by Trelstad Lynn B. on Jun 07 ’24. At $13.99 per share, Trelstad Lynn B. sold 25,000 shares. The insider’s holdings dropped to 190,474 shares worth approximately $2.62 million following the completion of this transaction.
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Also, Lougee David T sold 32,813 shares, netting a total of over 493,508 in proceeds. Following the sale of shares at $15.04 each, the insider now holds 692,838 shares.
Before that, McClelland Clifton A. III had sold 54,093 shares from its account. In a trade valued at $853,588, the SVP, Cntlr and Prin. Acc. Off. traded TEGNA Inc shares for $15.78 each. Upon closing the transaction, the insider’s holdings decreased to 54,093 shares, worth approximately $0.58 million.
Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in early May. As of April 13, 2022, Argus has decreased its “Buy” rating to a “Hold” for TGNA. Earlier on September 22, 2021, Barrington Research downgraded its rating. Their new recommendation was “a Mkt perform” for TGNA stock which previously was a “an Outperform”.
Analyzing TGNA Stock Performance
During the last five days, there has been a surge of approximately 6.77%. Over the course of the year, TEGNA Inc shares have dropped approximately -10.26%. Shares of the company reached a 52-week high of $16.00 on 01/29/24 and a 52-week low of $12.35 on 06/17/24. A 50-day SMA is recorded $14.12, while a 200-day SMA reached $14.70. Nevertheless, trading volume fell to 2.31 million shares from 3.45 million shares the previous day.
Support And Resistance Levels for TEGNA Inc (TGNA)
According to the 24-hour chart, there is a support level at 13.50, which, if violated, would cause prices to drop to 13.26. In the upper region, resistance lies at 13.87. The next price resistance is at 14.00. RSI (Relative Strength Index) is 47.83 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.22, which suggests the price will decrease in the coming days. Percent R is at 34.44%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.
