Lee Danner & Bass Inc. Purchases 68,520 Shares of TEGNA Inc. $TGNA

Lee Danner & Bass Inc. boosted its position in TEGNA Inc. (NYSE:TGNA) by 25.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 334,815 shares of the company’s stock after buying an additional 68,520 shares during the quarter. Lee Danner & Bass Inc.’s holdings in TEGNA were worth $6,807,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Financial Consulate Inc. bought a new position in shares of TEGNA during the 3rd quarter worth approximately $29,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in TEGNA in the second quarter valued at $38,000. Caitong International Asset Management Co. Ltd increased its stake in TEGNA by 1,018.3% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,997 shares of the company’s stock valued at $50,000 after buying an additional 2,729 shares during the last quarter. TD Private Client Wealth LLC lifted its position in TEGNA by 13,896.4% during the 2nd quarter. TD Private Client Wealth LLC now owns 3,919 shares of the company’s stock worth $66,000 after buying an additional 3,891 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of TEGNA by 81.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,963 shares of the company’s stock worth $66,000 after buying an additional 1,781 shares during the last quarter. Institutional investors own 92.19% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company downgraded TEGNA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. Weiss Ratings restated a “hold (c)” rating on shares of TEGNA in a research note on Monday, December 29th. Finally, Zacks Research upgraded TEGNA from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $19.75.

TEGNA Price Performance

NYSE:TGNA opened at $18.84 on Tuesday. The company has a market cap of $3.03 billion, a P/E ratio of 8.89 and a beta of 0.13. The firm’s fifty day moving average price is $19.45 and its two-hundred day moving average price is $19.43. TEGNA Inc. has a one year low of $14.87 and a one year high of $21.35. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.22 and a quick ratio of 2.22.

TEGNA (NYSE:TGNA) last posted its earnings results on Monday, November 10th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The company had revenue of $650.79 million for the quarter, compared to analyst estimates of $658.28 million. TEGNA had a return on equity of 12.50% and a net margin of 11.97%.The business’s quarterly revenue was down 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.94 EPS. Equities analysts expect that TEGNA Inc. will post 3.02 earnings per share for the current year.

TEGNA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, December 5th were given a dividend of $0.125 per share. The ex-dividend date was Friday, December 5th. This represents a $0.50 annualized dividend and a yield of 2.7%. TEGNA’s dividend payout ratio (DPR) is 23.58%.

About TEGNA

TEGNA Inc is a leading U.S. broadcast and digital media company that was formed as a spin-off from Gannett Co, Inc in June 2015. The company’s primary operations include the ownership and operation of local television stations, digital publishing platforms and marketing solutions designed to serve both national advertisers and local businesses. Through its portfolio of media assets, TEGNA delivers news, information and entertainment across multiple platforms, including over-the-air broadcasts, cable and satellite distribution, streaming services and proprietary websites and mobile apps.

TEGNA owns and operates approximately 60 television stations in 51 markets, reaching nearly 40 percent of U.S.