Gannett Co Inc (GCI) Shares Sold by Nicholas Company Inc.
Nicholas Company Inc. reduced its stake in Gannett Co Inc (NYSE:GCI) by 38.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 437,510 shares of the company’s stock after selling 269,500 shares during the period. Nicholas Company Inc. owned 0.38% of Gannett Co worth $3,815,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the business. Nationwide Fund Advisors grew its stake in Gannett Co by 2.6% in the 2nd quarter. Nationwide Fund Advisors now owns 80,819 shares of the company’s stock worth $705,000 after acquiring an additional 2,078 shares in the last quarter. Teachers Advisors LLC grew its stake in Gannett Co by 1.4% in the 2nd quarter. Teachers Advisors LLC now owns 211,355 shares of the company’s stock worth $1,843,000 after acquiring an additional 2,964 shares in the last quarter. WBI Investments Inc. bought a new position in Gannett Co in the 2nd quarter worth about $170,000. AJO LP grew its stake in Gannett Co by 12.4% in the 2nd quarter. AJO LP now owns 625,243 shares of the company’s stock worth $5,452,000 after acquiring an additional 68,879 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new position in Gannett Co in the 2nd quarter worth about $1,021,000. Institutional investors and hedge funds own 81.61% of the company’s stock.
Gannett Co Inc (NYSE GCI) opened at 8.41 on Monday. The firm has a 50-day moving average of $8.37 and a 200-day moving average of $8.44. The company’s market capitalization is $956.17 million. Gannett Co Inc has a 52 week low of $7.30 and a 52 week high of $12.39.
Gannett Co (NYSE:GCI) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The company had revenue of $774.50 million during the quarter, compared to analysts’ expectations of $783.06 million. Gannett Co had a negative net margin of 0.06% and a negative return on equity of 0.23%. Gannett Co’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm posted $0.30 earnings per share. Analysts anticipate that Gannett Co Inc will post $0.98 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Friday, September 1st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.61%. The ex-dividend date of this dividend is Wednesday, August 30th. Gannett Co’s dividend payout ratio (DPR) is -3,200.00%.
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A number of equities analysts have commented on GCI shares. ValuEngine downgraded shares of Gannett Co from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub upgraded shares of Gannett Co from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research downgraded shares of Gannett Co from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, TheStreet upgraded shares of Gannett Co from a “d” rating to a “c-” rating in a research note on Friday, June 23rd. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $16.00.
Gannett Co 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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