Contrarius Investment Management Ltd Has $2.49 Million Holdings in Gannett Co., Inc. (GCI)
Contrarius Investment Management Ltd lowered its stake in Gannett Co., Inc. (NYSE:GCI) by 32.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 276,216 shares of the company’s stock after selling 131,755 shares during the quarter. Contrarius Investment Management Ltd owned approximately 0.25% of Gannett Co. worth $2,486,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Piedmont Investment Advisors LLC bought a new position in Gannett Co. in the 2nd quarter worth about $214,000. Prudential Financial Inc. boosted its stake in Gannett Co. by 21.8% in the 2nd quarter. Prudential Financial Inc. now owns 876,516 shares of the company’s stock worth $7,643,000 after purchasing an additional 156,800 shares during the period. Quinn Opportunity Partners LLC raised its holdings in shares of Gannett Co. by 1.5% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 1,229,626 shares of the company’s stock valued at $10,722,000 after acquiring an additional 17,960 shares in the last quarter. FMR LLC raised its holdings in shares of Gannett Co. by 2.2% in the 1st quarter. FMR LLC now owns 1,694,572 shares of the company’s stock valued at $14,201,000 after acquiring an additional 36,654 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Gannett Co. by 43,997.2% in the 1st quarter. BlackRock Inc. now owns 14,361,136 shares of the company’s stock valued at $120,348,000 after acquiring an additional 14,328,569 shares in the last quarter. Institutional investors and hedge funds own 83.84% of the company’s stock.
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In other Gannett Co. news, insider John M. Zidich sold 17,954 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $10.71, for a total value of $192,287.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.74% of the company’s stock.
GCI has been the topic of several recent analyst reports. ValuEngine raised Gannett Co. from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub raised Gannett Co. from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, Zacks Investment Research raised Gannett Co. from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Buy”.
Gannett Co., Inc. (NYSE:GCI) traded up $0.20 during trading hours on Friday, hitting $11.48. The company’s stock had a trading volume of 968,694 shares, compared to its average volume of 1,025,123. Gannett Co., Inc. has a 1 year low of $7.36 and a 1 year high of $11.66. The stock has a market cap of $1,283.11, a PE ratio of 11.71 and a beta of 0.59. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.43.
Gannett Co. (NYSE:GCI) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.05. Gannett Co. had a return on equity of 13.25% and a net margin of 1.43%. The firm had revenue of $744.30 million for the quarter, compared to analysts’ expectations of $762.97 million. During the same quarter last year, the firm posted ($0.21) EPS. The company’s revenue was down 3.6% compared to the same quarter last year. equities analysts expect that Gannett Co., Inc. will post 0.9 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 26th. Shareholders of record on Tuesday, December 12th will be issued a $0.16 dividend. The ex-dividend date is Monday, December 11th. This represents a $0.64 annualized dividend and a dividend yield of 5.57%. Gannett Co.’s payout ratio is currently 164.11%.
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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