Gannett Co., Inc. (GCI) Shares Sold by Advisors Asset Management Inc.
Advisors Asset Management Inc. cut its stake in shares of Gannett Co., Inc. (NYSE:GCI) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 653,285 shares of the company’s stock after selling 17,253 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.58% of Gannett Co. worth $5,880,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of GCI. UBS Asset Management Americas Inc. boosted its stake in Gannett Co. by 34.7% during the first quarter. UBS Asset Management Americas Inc. now owns 70,540 shares of the company’s stock worth $591,000 after acquiring an additional 18,156 shares in the last quarter. Teachers Advisors LLC boosted its stake in Gannett Co. by 2.7% during the first quarter. Teachers Advisors LLC now owns 208,391 shares of the company’s stock worth $1,746,000 after acquiring an additional 5,425 shares in the last quarter. Vanguard Group Inc. boosted its stake in Gannett Co. by 1.1% during the first quarter. Vanguard Group Inc. now owns 10,293,214 shares of the company’s stock worth $86,257,000 after acquiring an additional 110,193 shares in the last quarter. Geode Capital Management LLC boosted its stake in Gannett Co. by 1.9% during the first quarter. Geode Capital Management LLC now owns 942,526 shares of the company’s stock worth $7,898,000 after acquiring an additional 17,452 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Gannett Co. by 28.8% during the first quarter. Morgan Stanley now owns 1,094,120 shares of the company’s stock worth $9,169,000 after acquiring an additional 244,746 shares in the last quarter. 85.10% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Gannett Co. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub lowered shares of Gannett Co. from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Finally, ValuEngine raised shares of Gannett Co. from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Two research 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”.
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Shares of Gannett Co., Inc. (NYSE:GCI) traded up $0.20 during midday trading on Monday, reaching $11.48. 968,600 shares of the company traded hands, compared to its average volume of 1,008,860. Gannett Co., Inc. has a fifty-two week low of $7.36 and a fifty-two week high of $11.66. The company has a market capitalization of $1,280.00 and a price-to-earnings ratio of 11.71. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.09 and a current ratio of 1.09.
Gannett Co. (NYSE:GCI) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. Gannett Co. had a net margin of 1.43% and a return on equity of 13.25%. The firm had revenue of $744.30 million for the quarter, compared to analyst estimates of $762.97 million. During the same period last year, the firm earned ($0.21) earnings per share. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. equities analysts anticipate that Gannett Co., Inc. will post 0.9 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 26th. Shareholders of record on Tuesday, December 12th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date is Monday, December 11th. Gannett Co.’s dividend payout ratio (DPR) is 139.13%.
In other Gannett Co. news, insider John M. Zidich sold 17,954 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $10.71, for a total value of $192,287.34. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.74% of the stock is currently owned by company insiders.
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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