SCHEDULE 13G: Pacer Funds and Affiliates Disclose 5.76% Passive Stake in TEGNA INC
Beneficial Ownership Report
Pacer US Small Cap Cash Cows ETF, Pacer Advisors, Inc., and Joe M. Thomson have jointly reported a passive beneficial ownership of 5.76% in TEGNA INC's common stock as of December 31, 2024.
Summary
- Pacer US Small Cap Cash Cows ETF, Pacer US Small Cap Cash Cows Growth Leaders ETF, Pacer Advisors, Inc., and Joe M. Thomson (collectively, the Reporting Persons) have filed a Schedule 13G regarding their beneficial ownership in TEGNA INC.
- As of December 31, 2024, the Reporting Persons collectively beneficially own 9,215,388 shares of TEGNA INC's common stock.
- This aggregate ownership represents 5.76% of TEGNA INC's outstanding common stock, calculated based on 159,898,041 shares issued and outstanding as of December 31, 2024.
- The ownership is held with shared voting power and shared dispositive power by all Reporting Persons.
- The filing explicitly states that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of TEGNA INC.
Sentiment
Score: 5
Explanation: The filing is a neutral, routine regulatory disclosure of a passive beneficial ownership stake, indicating no intent to influence control or significant operational changes.
Positives
- The disclosure of a significant passive institutional investor like Pacer Funds indicates continued investment interest in TEGNA INC.
Risks
- The document does not detail specific risks related to TEGNA INC's operations or financial health, as its purpose is to report beneficial ownership.
Future Outlook
This Schedule 13G filing is a disclosure of current beneficial ownership and does not contain any forward-looking statements or guidance regarding TEGNA INC's future performance or the Reporting Persons' future investment intentions beyond their passive holding status.
Industry Context
This filing indicates a passive investment by Pacer Funds, an investment adviser, in TEGNA INC, a media company. It reflects an institutional investor's position within the media sector but does not provide broader industry trend analysis.
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant passive institutional investor's stake in the company.
Next Steps
- The Reporting Persons will continue to comply with SEC filing requirements for beneficial ownership, including any future amendments to this Schedule 13G if their ownership stake or intent changes.
Key Dates
| Date | Description |
|---|---|
| 12/31/2024 | Date of the event which required the filing of this statement (beneficial ownership threshold crossed). |
| 05/02/2025 | Date the Schedule 13G statement was signed and filed with the SEC. |
Keywords
TEGNA INC, Pacer US Small Cap Cash Cows ETF, Pacer Advisors Inc., Joe M. Thomson, Schedule 13G, Beneficial Ownership, Common Stock, Passive Investment, Institutional Investor
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