Calamos Advisors LLC Purchases Shares of 1,146,015 TEGNA Inc. $TGNA

Calamos Advisors LLC acquired a new position in TEGNA Inc. (NYSE:TGNA) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,146,015 shares of the company’s stock, valued at approximately $23,298,000.

Other large investors have also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in TEGNA during the second quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd increased its position in shares of TEGNA by 1,018.3% during the second 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. TD Private Client Wealth LLC increased its position in shares of TEGNA by 13,896.4% during the second 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. EverSource Wealth Advisors LLC lifted its holdings 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 valued at $66,000 after purchasing an additional 1,781 shares during the last quarter. Finally, 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. Institutional investors own 92.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TGNA. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TEGNA in a research report on Monday. Wells Fargo & Company downgraded shares of TEGNA from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 23rd. Finally, Zacks Research lowered shares of TEGNA from a “hold” rating to a “strong sell” rating in a research report on Friday, October 10th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $19.75.

TEGNA Stock Performance

Shares of TGNA opened at $19.46 on Wednesday. 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 stock has a 50-day moving average of $19.66 and a two-hundred day moving average of $19.20. The stock has a market cap of $3.13 billion, a P/E ratio of 9.18 and a beta of 0.12. TEGNA Inc. has a one year low of $14.87 and a one year high of $21.35.

TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). TEGNA had a return on equity of 12.50% and a net margin of 11.97%.The firm had revenue of $650.79 million during the quarter, compared to analysts’ expectations of $658.28 million. During the same quarter in the previous year, the business earned $0.94 earnings per share. The company’s revenue for the quarter was down 19.3% compared to the same quarter last year. As a group, research analysts predict 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 Friday, January 2nd. Shareholders of record on Friday, December 5th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.50 dividend on an annualized basis and a yield of 2.6%. TEGNA’s dividend payout ratio (DPR) is currently 23.58%.

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.