California Public Employees Retirement System Buys 72,300 Shares of Gannett Co., Inc. (GCI)
California Public Employees Retirement System raised its stake in shares of Gannett Co., Inc. (NYSE:GCI) by 13.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 621,050 shares of the company’s stock after buying an additional 72,300 shares during the period. California Public Employees Retirement System owned 0.55% of Gannett Co. worth $5,204,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the stock. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Gannett Co. by 3.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 427,782 shares of the company’s stock valued at $3,585,000 after buying an additional 15,840 shares in the last quarter. OppenheimerFunds Inc. boosted its position in shares of Gannett Co. by 52.7% in the first quarter. OppenheimerFunds Inc. now owns 280,057 shares of the company’s stock valued at $2,346,000 after buying an additional 96,623 shares in the last quarter. Heartland Advisors Inc. purchased a new position in shares of Gannett Co. during the first quarter valued at about $3,352,000. Quantbot Technologies LP boosted its position in shares of Gannett Co. by 1,668.6% in the first quarter. Quantbot Technologies LP now owns 115,313 shares of the company’s stock valued at $966,000 after buying an additional 108,793 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its position in shares of Gannett Co. by 992.8% in the first quarter. North Star Investment Management Corp. now owns 131,130 shares of the company’s stock valued at $1,099,000 after buying an additional 119,130 shares in the last quarter. 83.99% of the stock is owned by institutional investors and hedge funds.
Shares of Gannett Co., Inc. (GCI) traded up 7.31% during trading on Friday, reaching $8.96. The company had a trading volume of 1,358,962 shares. Gannett Co., Inc. has a 12 month low of $7.30 and a 12 month high of $12.49. The stock’s 50-day moving average price is $8.77 and its 200-day moving average price is $8.55. The stock has a market capitalization of $1.02 billion, a PE ratio of 98.46 and a beta of 0.58.
Gannett Co. (NYSE:GCI) last released its earnings results on Thursday, August 3rd. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by $0.01. The firm had revenue of $774.50 million during the quarter, compared to analyst estimates of $783.06 million. Gannett Co. had a return on equity of 12.11% and a net margin of 0.33%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the company earned $0.30 earnings per share. Equities analysts forecast that Gannett Co., Inc. will post $1.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, September 1st will be given a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.64 dividend on an annualized basis and a yield of 7.14%. Gannett Co.’s dividend payout ratio (DPR) is 800.00%.
Several equities analysts recently issued reports on GCI shares. ValuEngine cut Gannett Co. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub raised Gannett Co. from a “hold” rating to a “buy” rating in a report on Tuesday. Noble Financial reaffirmed a “buy” rating on shares of Gannett Co. in a report on Sunday, May 14th. Zacks Investment Research cut Gannett Co. from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, TheStreet raised Gannett Co. from a “d” rating to a “c-” rating in a report on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $16.00.
Gannett Co. Company Profile
Gannett Co, Inc is a media company. The Company operates as a newspaper publisher in the United States. As of December 25, 2016, it owned ReachLocal, Inc (ReachLocal), a digital marketing solutions company; the USA TODAY NETWORK (made up of USA TODAY including digital sites and affiliates (USAT) and 109 local media organizations in 34 states in the United States and Guam), and Newsquest Media Group Ltd.
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