Royce & Associates LP Has $28.96 Million Holdings in TEGNA Inc. $TGNA

Royce & Associates LP trimmed its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 57.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,424,585 shares of the company’s stock after selling 1,895,584 shares during the period. Royce & Associates LP owned 0.88% of TEGNA worth $28,962,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of TGNA. Choreo LLC acquired a new stake in shares of TEGNA in the third quarter valued at $202,000. US Bancorp DE grew its holdings in TEGNA by 16.8% during the 3rd quarter. US Bancorp DE now owns 8,622 shares of the company’s stock worth $175,000 after acquiring an additional 1,242 shares during the last quarter. Greenland Capital Management LP bought a new position in shares of TEGNA in the third quarter worth about $829,000. EverSource Wealth Advisors LLC lifted its position in shares of TEGNA by 13.0% during the third quarter. EverSource Wealth Advisors LLC now owns 4,480 shares of the company’s stock worth $91,000 after purchasing an additional 517 shares in the last quarter. Finally, BCK Capital Management LP bought a new stake in shares of TEGNA during the third quarter valued at approximately $1,950,000. Institutional investors and hedge funds own 92.19% of the company’s stock.

TEGNA Trading Down 0.4%

TGNA opened at $20.97 on Monday. The firm’s fifty day moving average is $19.64 and its two-hundred day moving average is $20.02. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.22 and a current ratio of 2.22. The firm has a market cap of $3.38 billion, a PE ratio of 9.89 and a beta of 0.15. TEGNA Inc. has a twelve month low of $14.87 and a twelve month high of $21.35.

TEGNA (NYSE:TGNA) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. The business had revenue of $706.11 million during the quarter, compared to analysts’ expectations of $701.29 million. TEGNA had a net margin of 11.97% and a return on equity of 12.50%. Equities research analysts anticipate that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.4%. TEGNA’s dividend payout ratio (DPR) is currently 23.58%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TGNA shares. Weiss Ratings restated a “hold (c)” rating on shares of TEGNA in a research report on Monday, December 29th. Zacks Research raised shares of TEGNA from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.75.

TEGNA Company Profile

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.