Gannett Co., Inc. (GCI) Stake Decreased by Advisor Group Inc.
Advisor Group Inc. lessened its holdings in shares of Gannett Co., Inc. (NYSE:GCI) by 8.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,963 shares of the company’s stock after selling 5,374 shares during the period. Advisor Group Inc. owned 0.05% of Gannett Co. worth $496,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of Montreal Can raised its holdings in shares of Gannett Co. by 0.7% during 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 last quarter. BB&T Securities LLC bought a new stake in shares of Gannett Co. during the second quarter valued at approximately $129,000. Miles Capital Inc. raised its holdings in shares of Gannett Co. by 0.3% during the first quarter. Miles Capital Inc. now owns 17,702 shares of the company’s stock valued at $148,000 after buying an additional 48 shares during the last quarter. National Asset Management Inc. raised its holdings in shares of Gannett Co. by 43.2% during the first quarter. National Asset Management Inc. now owns 18,673 shares of the company’s stock valued at $157,000 after buying an additional 5,633 shares during the last quarter. Finally, Oxford Asset Management bought a new stake in shares of Gannett Co. during the first quarter valued at approximately $161,000. 81.61% of the stock is currently owned by institutional investors.
GCI has been the topic of a number of recent analyst reports. BidaskClub raised Gannett Co. from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Zacks Investment Research cut Gannett Co. from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. ValuEngine raised Gannett Co. from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, TheStreet raised Gannett Co. from a “d” rating to a “c-” rating in a report on Friday, June 23rd. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $16.00.
Shares of Gannett Co., Inc. (NYSE GCI) opened at 9.46 on Friday. The company’s 50-day moving average price is $8.69 and its 200 day moving average price is $8.69. The company’s market cap is $1.08 billion. Gannett Co., Inc. has a one year low of $7.30 and a one year high of $11.64.
Gannett Co. (NYSE:GCI) last announced its earnings results on Thursday, August 3rd. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). Gannett Co. had a positive return on equity of 11.30% and a negative net margin of 0.07%. The company had revenue of $774.50 million for the quarter, compared to analyst estimates of $783.06 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. Gannett Co.’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities analysts forecast that Gannett Co., Inc. will post $0.98 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Friday, September 1st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.77%. Gannett Co.’s payout ratio is -3,200.00%.
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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