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

Calamos Advisors LLC purchased a new position in TEGNA Inc. (NYSE:TGNA) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,146,015 shares of the company’s stock, valued at approximately $23,298,000. Calamos Advisors LLC owned 0.71% of TEGNA as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in TEGNA in the 2nd quarter valued at $38,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of TEGNA by 1,018.3% in 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 during the last quarter. TD Private Client Wealth LLC grew its holdings in shares of TEGNA by 13,896.4% in 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 during the last quarter. EverSource Wealth Advisors LLC increased its stake in TEGNA by 81.6% in 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 period. Finally, Amundi lifted its holdings in TEGNA by 1,507.5% during the 1st quarter. Amundi now owns 4,067 shares of the company’s stock valued at $74,000 after buying an additional 3,814 shares in the last quarter. Hedge funds and other institutional investors own 92.19% of the company’s stock.

Analyst Upgrades and Downgrades

TGNA has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of TEGNA in a research note on Monday. Wells Fargo & Company cut TEGNA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 23rd. Finally, Zacks Research downgraded TEGNA from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, TEGNA has a consensus rating of “Hold” and a consensus price target of $19.75.

TEGNA Price 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 company has a 50 day moving average price of $19.66 and a 200-day moving average price of $19.20. TEGNA Inc. has a fifty-two week low of $14.87 and a fifty-two week high of $21.35. The stock has a market capitalization of $3.13 billion, a PE ratio of 9.18 and a beta of 0.12.

TEGNA (NYSE:TGNA) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The business had revenue of $650.79 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned $0.94 EPS. Equities analysts predict that TEGNA Inc. will post 3.02 earnings per share for the current fiscal year.

TEGNA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 5th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, December 5th. TEGNA’s dividend payout ratio is 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.