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Lynn B. Trelstad, the Executive Vice President and Chief Operating Officer of Media Operations at Tegna Inc . (NYSE:TGNA), a media company with a market capitalization of $2.47 billion and an impressive "GREAT" financial health rating according to InvestingPro, recently sold 40,000 shares of the company’s common stock, according to a recent SEC filing. The shares were sold at a weighted average price of $15.92, resulting in a total transaction value of $636,800.
This sale was conducted under Ms. Trelstad’s Rule 10b5-1 trading plan, which she adopted on December 9, 2024. The shares were sold in multiple transactions at prices ranging from $15.59 to $16.57. Following this transaction, Ms. Trelstad holds 109,432.540 shares directly.
In addition to her direct holdings, Ms. Trelstad has indirect ownership of shares through a 401(k) plan and holdings by her spouse. These indirect holdings amount to 10,973.869 shares through a 401(k) plan, 32,855.424 shares by her spouse, and 6,265.325 shares by her spouse through a 401(k) plan.
This transaction is part of the regular portfolio management by Ms. Trelstad, who continues to maintain a significant investment in Tegna Inc. According to InvestingPro analysis, the company appears undervalued based on its Fair Value metrics, with management actively buying back shares and maintaining strong shareholder returns. For detailed insights and access to the comprehensive Pro Research Report covering TGNA and 1,400+ other stocks, visit InvestingPro.
In other recent news, TEGNA Inc. reported its fourth-quarter earnings for 2024, revealing a slight miss in earnings per share (EPS) compared to forecasts. The company posted an EPS of $1.21, falling short of the anticipated $1.26, while revenue for the quarter was $871 million, below the forecasted $884.71 million, but marking a 20% year-over-year increase. Full-year 2024 revenue reached $3.1 billion, up 7% from the previous year. Additionally, Moody’s Ratings has affirmed TEGNA’s Ba3 corporate family rating and revised the outlook from negative to stable, reflecting expectations of stable operating performance and liquidity management.
Guggenheim Securities adjusted its outlook on TEGNA, reducing the price target from $22.00 to $20.00 while maintaining a Buy rating, due to anticipated declines in advertising revenue. The firm revised its revenue forecast for TEGNA, expecting a 6.2% decrease in total company revenue for the first quarter. Benchmark analysts also maintained a Buy rating for TEGNA with a $21.00 price target, despite noting a softer core advertising outlook.
In company leadership news, TEGNA announced the appointment of Melissa Zimyeski and Mat Yurow as vice presidents of product and growth, respectively, to drive digital transformation and audience growth. These developments come amid ongoing discussions about potential regulatory changes that could impact TEGNA’s strategic options in the media landscape.
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