TEGNA Stock: Buybacks Can Reward Patient Investors

Melissa Kopka Shares of TEGNA (NYSE:TGNA) have been a poor performer over the past year, despite significant shaare repurchases, as investors continue to be concerned about cord- outtines of the future of broadeast television. I last overed TEGNA in May, rating shares a "strong buy" given its free eash flow capacity, but since then, the stock is down 5% even as the market has risen by 5%. This underperformance has come even as the company should see a major financial benefit from outsized political spending ...