Finance

Analyzing the Insider Data for TEGNA Inc. (TGNA)

Recent insider trends for TEGNA Inc. (NYSE:TGNA) have caught the attention of investors. Insider activity is often a strong indicator of future performance in a stock, and if the data on TGNA is anything to go by, investors should pay attention.

Institutions own 98.99% of TEGNA Inc. (TGNA)’s shares. The total value of these holdings, in millions, is $2,758. Among active positions in the latest quarter, 187 holders increased their positions by a total of 59.98 million shares, 236 holders decreased the positions by a total of 33.03 million shares, and 57 holders held their positions. This works out to a net increase in ownership of 26.95 million shares, and suggests that institutions are feeling bullish about the stock.

Among new and sold out positions, 57 holders initiated new positions by a total of 27.65 million shares and 106 holders exited their positions by a total of 8.83 million shares. This nets out to an increase of 18.83 million shares and is a bullish sign for TGNA.

Insider ownership increased by a total of 0 shares, which suggests that TGNA’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a different story: insiders executed 7 buys and 23 sells, and ownership decreased by a net of 142389 shares.



Short interest, or the number of a stock’s tradable shares currently being shorted, is another metric investors use to get a pulse on sentiment. TEGNA Inc. (NYSE:TGNA)’s short interest is 12.36 million shares, or 5.78% of the float. This represents an increase of 16% in the number of shares being shorted compared to the previous reading, and implies that investors felt more pessimistic about the stock during the past two weeks.

Given what the insider ownership patterns are saying, it makes sense to consider the technicals to see if these pieces of information reach the same conclusion about the outlook for TGNA. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that TGNA is a sell, which implies that TGNA is expected to underperform the market based on prior trading patterns.

Conclusion




Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that TEGNA Inc. (NYSE:TGNA) is overvalued.

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