LSV Asset Management Has $145.79 Million Stock Position in TEGNA Inc. $TGNA

LSV Asset Management lessened its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,171,371 shares of the company’s stock after selling 341,479 shares during the quarter. LSV Asset Management owned 4.45% of TEGNA worth $145,794,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in shares of TEGNA by 1.7% in the second quarter. Geode Capital Management LLC now owns 5,008,137 shares of the company’s stock worth $83,944,000 after acquiring an additional 82,140 shares in the last quarter. Wasatch Advisors LP lifted its holdings in shares of TEGNA by 5,517.6% during the 2nd quarter. Wasatch Advisors LP now owns 3,242,220 shares of the company’s stock valued at $54,340,000 after purchasing an additional 3,184,505 shares in the last quarter. Gamco Investors INC. ET AL grew its position in shares of TEGNA by 3.1% in the 2nd quarter. Gamco Investors INC. ET AL now owns 2,410,528 shares of the company’s stock valued at $40,400,000 after purchasing an additional 72,339 shares during the period. Boston Partners grew its position in shares of TEGNA by 1.3% in the 2nd quarter. Boston Partners now owns 2,399,319 shares of the company’s stock valued at $40,050,000 after purchasing an additional 30,229 shares during the period. Finally, Bridgeway Capital Management LLC increased its stake in TEGNA by 0.9% during the 2nd quarter. Bridgeway Capital Management LLC now owns 1,370,774 shares of the company’s stock worth $22,974,000 after purchasing an additional 12,732 shares in the last quarter. 92.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TGNA shares. Weiss Ratings reiterated a “hold (c)” rating on shares of TEGNA in a report on Monday, December 29th. Wells Fargo & Company cut shares of TEGNA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. Finally, 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $19.75.

TEGNA Stock Down 0.6%

Shares of TGNA stock opened at $20.78 on Thursday. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.81. TEGNA Inc. has a 1 year low of $14.87 and a 1 year high of $21.35. The firm’s fifty day moving average price is $19.30 and its two-hundred day moving average price is $19.69. The firm has a market capitalization of $3.35 billion, a P/E ratio of 9.80 and a beta of 0.15.

TEGNA (NYSE:TGNA) last released 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 during the quarter, compared to analyst estimates of $658.28 million. TEGNA had a net margin of 11.97% and a return on equity of 12.50%. TEGNA’s revenue was down 19.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.94 EPS. On average, equities analysts predict that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, December 5th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, December 5th. TEGNA’s payout ratio is presently 23.58%.

TEGNA 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.