Senior VP of Digital & Chief Growth Officer Tom Cox Sold A Bunch Of Shares In TEGNA

Some TEGNA Inc. (NYSE:TGNA) shareholders may be a little concerned to see that the Senior VP of Digital & Chief Growth Officer, Tom Cox, recently sold a substantial US$1.5m worth of stock at a price of US$18.73 per share. That diminished their holding by a very significant 60%, which arguably implies a strong desire to reallocate capital.

View our latest analysis for TEGNA

The Last 12 Months Of Insider Transactions At TEGNA

Notably, that recent sale by Tom Cox is the biggest insider sale of TEGNA shares that we've seen in the last year. So what is clear is that an insider saw fit to sell at around the current price of US$18.68. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. In this case, the big sale took place at around the current price, so it's not too bad (but it's still not a positive).

TEGNA insiders didn't buy any shares over the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

If you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. (Hint: Most of them are flying under the radar).

Insider Ownership Of TEGNA

Many investors like to check how much of a company is owned by insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. It appears that TEGNA insiders own 1.2% of the company, worth about US$37m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.

So What Do The TEGNA Insider Transactions Indicate?

Insiders sold TEGNA shares recently, but they didn't buy any. And even if we look at the last year, we didn't see any purchases. Insiders own shares, but we're still pretty cautious, given the history of sales. So we'd only buy after careful consideration. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. Our analysis shows 4 warning signs for TEGNA (2 are concerning!) and we strongly recommend you look at these before investing.

But note: TEGNA may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.