Mraz Amerine & Associates Inc. maintained its stake in TEGNA Inc. (NYSE:TGNA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 158,810 shares of the company’s stock at the end of the second quarter. TEGNA comprises approximately 0.7% of Mraz Amerine & Associates Inc.’s portfolio, making the stock its 23rd largest position. Mraz Amerine & Associates Inc. owned about 0.07% of TEGNA worth $2,288,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of TGNA. Ameritas Investment Partners Inc. purchased a new stake in TEGNA during the first quarter worth approximately $131,000. ARS Investment Partners LLC purchased a new stake in TEGNA during the first quarter worth approximately $135,000. Iberiabank Corp purchased a new stake in TEGNA during the second quarter worth approximately $170,000. Peak Asset Management LLC purchased a new stake in TEGNA during the first quarter worth approximately $205,000. Finally, Clifford Swan Investment Counsel LLC purchased a new stake in TEGNA during the first quarter worth approximately $207,000. 90.09% of the stock is owned by institutional investors.
TEGNA Inc. (TGNA) opened at 12.46 on Friday. TEGNA Inc. has a one year low of $12.46 and a one year high of $26.65. The company’s 50 day moving average is $14.10 and its 200 day moving average is $20.62. The stock has a market cap of $2.68 billion, a PE ratio of 15.23 and a beta of 1.75.
TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. The company had revenue of $489.36 million during the quarter, compared to the consensus estimate of $486.29 million. TEGNA had a net margin of 11.90% and a return on equity of 20.51%. TEGNA’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 EPS. On average, equities research analysts expect that TEGNA Inc. will post $1.08 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.28 dividend on an annualized basis and a yield of 2.25%. TEGNA’s payout ratio is currently 16.97%.
A number of research firms recently commented on TGNA. ValuEngine cut shares of TEGNA from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Benchmark Co. reissued a “buy” rating and set a $20.00 target price on shares of TEGNA in a research report on Friday, June 16th. FBR & Co decreased their price target on shares of TEGNA from $30.00 to $29.00 and set an “outperform” rating for the company in a report on Monday, May 15th. BidaskClub cut shares of TEGNA from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Finally, Zacks Investment Research cut shares of TEGNA from a “hold” rating to a “strong sell” rating in a report on Monday, June 5th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $19.79.
Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
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