Lee Danner Bass Inc buys $13,524,382 stake in Tegna Inc (TGNA)

Tegna Inc (TGNA) : Lee Danner Bass Inc scooped up 4,985 additional shares in Tegna Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 640,359 shares of Tegna Inc which is valued at $13,524,382.Tegna Inc makes up approximately 1.64% of Lee Danner Bass Inc’s portfolio.

Other Hedge Funds, Including , Sumitomo Mitsui Asset Management Company Ltd boosted its stake in TGNA in the latest quarter, The investment management firm added 470 additional shares and now holds a total of 16,638 shares of Tegna Inc which is valued at $364,372. Tegna Inc makes up approx 0.01% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio. Acadian Asset Management sold out all of its stake in TGNA during the most recent quarter. The investment firm sold 7,704 shares of TGNA which is valued $188,902.

Tegna Inc closed down -0.25 points or -1.16% at $21.23 with 18,09,825 shares getting traded on Monday. Post opening the session at $21.55, the shares hit an intraday low of $21.14 and an intraday high of $21.64 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Tegna Inc reported $0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.48. The company had revenue of $811.79 million for the quarter, compared to analysts expectations of $814.74 million. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS.

Investors should note that on Jul 28, 2016, Tegna Inc announced a cash dividend of $0.1400. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Oct 3, 2016.

Many Wall Street Analysts have commented on Tegna Inc. Shares were Reiterated by FBR Capital on Jul 27, 2016 to “Mkt Perform” and Lowered the Price Target to $ 24 from a previous price target of $25 .

TEGNA Inc. formerly Gannett Co. Inc. is a media and marketing solutions company. The Company is engaged in providing local content on a range of platforms in the United States. The Company operates through Broadcasting and Digital segments. It also provides digital marketing services and Internet-based human resource solutions. Its digital media products and services include search social media and Website development among others. The Company offers its services in a range of geographies demographics and content areas. The Company provides consumers with the information and entertainment and connects consumers to their communities through various platforms such as television stations desktop smartphone and tablet products. Its Broadcasting segment includes an independent station group of network affiliates. The Company’s Digital business segment includes Cars.com CareerBuilder and Shoplocal.

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