Lee Danner & Bass Inc. Sells 20,650 Shares of TEGNA Inc. $TGNA

Key Points

• Lee Danner & Bass Inc. has reduced its stake in TEGNA Inc. by 7.2%, selling 20,650 shares during the second quarter.
• TEGNA announced a quarterly dividend of $0.125, resulting in an annualized yield of 2.5% and a payout ratio of 17.99%.
• Analysts have mixed views on TEGNA, with ratings ranging from "buy" to "strong sell," and a consensus rating of "hold" with an average target price of $19.75.

Lee Danner & Bass Inc. reduced its stake in TEGNA Inc. (NYSE:TGNA - Free Report) by 7.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 266,295 shares of the company's stock after selling 20,650 shares during the quarter. Lee Danner & Bass Inc. owned about 0.17% of TEGNA worth $4,463,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its position in shares of 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 worth $50,000 after purchasing an additional 2,729 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of TEGNA by 53.3% in the 1st quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock worth $57,000 after purchasing an additional 1,088 shares in the last quarter. TD Private Client Wealth LLC boosted its position in shares of TEGNA by 13,896.4% in the 2nd quarter. TD Private Client Wealth LLC now owns 3,919 shares of the company's stock worth $66,000 after purchasing an additional 3,891 shares in the last quarter. Amundi boosted its position in shares of TEGNA by 1,507.5% in the 1st quarter. Amundi now owns 4,067 shares of the company's stock worth $74,000 after purchasing an additional 3,814 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of TEGNA by 26.0% in the 1st quarter. Blue Trust Inc. now owns 4,227 shares of the company's stock worth $77,000 after purchasing an additional 873 shares in the last quarter. 92.19% of the stock is owned by institutional investors.

TEGNA Stock Up 0.4%

TGNA opened at $20.04 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.82. TEGNA Inc. has a 52 week low of $14.87 and a 52 week high of $21.35. The firm has a 50-day simple moving average of $20.64 and a two-hundred day simple moving average of $18.11. The company has a market capitalization of $3.23 billion, a PE ratio of 7.21 and a beta of 0.25.

TEGNA (NYSE:TGNA - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.06. TEGNA had a net margin of 14.99% and a return on equity of 16.20%. The firm had revenue of $675.05 million during the quarter, compared to the consensus estimate of $673.92 million. During the same quarter last year, the firm earned $0.50 EPS. The firm's revenue for the quarter was down 5.0% compared to the same quarter last year. TEGNA has set its Q3 2025 guidance at EPS. Analysts forecast that TEGNA Inc. will post 3.02 earnings per share for the current fiscal year.

TEGNA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 5th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Friday, September 5th. TEGNA's dividend payout ratio is 17.99%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TGNA shares. Wells Fargo & Company cut TEGNA from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Guggenheim restated a "neutral" rating and issued a $19.00 price objective on shares of TEGNA in a research note on Friday, August 22nd. Zacks Research downgraded shares of TEGNA from a "hold" rating to a "strong sell" rating in a report on Friday, October 10th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of TEGNA in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $19.75.

TEGNA Company Profile

TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.

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