WBI Investments Inc. Acquires New Position in Gannett Co., Inc. (GCI)
WBI Investments Inc. acquired a new stake in Gannett Co., Inc. (NYSE:GCI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 19,442 shares of the company’s stock, valued at approximately $170,000.
Several other institutional investors have also recently added to or reduced their stakes in GCI. Great Lakes Advisors LLC acquired a new position in shares of Gannett Co. in the first quarter valued at approximately $105,000. Bank of Montreal Can increased its stake in shares of Gannett Co. by 0.7% in the second quarter. Bank of Montreal Can now owns 12,571 shares of the company’s stock valued at $110,000 after buying an additional 89 shares during the period. Private Advisor Group LLC acquired a new position in shares of Gannett Co. in the first quarter valued at approximately $128,000. BB&T Securities LLC acquired a new position in shares of Gannett Co. in the second quarter valued at approximately $129,000. Finally, LMR Partners LLP acquired a new position in shares of Gannett Co. in the first quarter valued at approximately $147,000. 81.63% of the stock is owned by institutional investors.
Shares of Gannett Co., Inc. (GCI) opened at 8.41 on Friday. The company has a 50-day moving average price of $8.37 and a 200 day moving average price of $8.44. Gannett Co., Inc. has a one year low of $7.30 and a one year high of $12.39. The company’s market capitalization is $956.17 million.
Gannett Co. (NYSE:GCI) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). The firm had revenue of $774.50 million for the quarter, compared to analysts’ expectations of $783.06 million. Gannett Co. had a positive return on equity of 11.30% and a negative net margin of 0.07%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 earnings per share. Equities analysts anticipate that Gannett Co., Inc. will post $0.98 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.16 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.64 annualized dividend and a yield of 7.61%. Gannett Co.’s payout ratio is currently -3,200.00%.
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GCI has been the subject of several recent research reports. ValuEngine raised Gannett Co. from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub raised Gannett Co. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. TheStreet raised Gannett Co. from a “d” rating to a “c-” rating in a research note on Friday, June 23rd. Finally, Zacks Investment Research raised Gannett Co. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Gannett Co. presently has a consensus rating of “Buy” and a consensus target price of $16.00.
About Gannett Co.
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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