Virginia Retirement Systems ET AL lessened its holdings in shares of Gannett Co., Inc. (NYSE:GCI) by 30.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,500 shares of the company’s stock after selling 39,900 shares during the quarter. Virginia Retirement Systems ET AL owned approximately 0.08% of Gannett worth $815,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in GCI. Teachers Advisors LLC raised its holdings in shares of Gannett by 2.7% during the first quarter. Teachers Advisors LLC now owns 208,391 shares of the company’s stock valued at $1,746,000 after acquiring an additional 5,425 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Gannett 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 acquiring an additional 89 shares in the last quarter. Aperio Group LLC grew its stake in Gannett by 51.8% in the second quarter. Aperio Group LLC now owns 69,965 shares of the company’s stock worth $610,000 after purchasing an additional 23,874 shares during the period. Strs Ohio grew its stake in Gannett by 77.2% in the second quarter. Strs Ohio now owns 100,100 shares of the company’s stock worth $872,000 after purchasing an additional 43,600 shares during the period. Finally, Great West Life Assurance Co. Can grew its stake in Gannett by 3.8% in the second quarter. Great West Life Assurance Co. Can now owns 161,521 shares of the company’s stock worth $1,407,000 after purchasing an additional 5,900 shares during the period. Institutional investors own 84.77% of the company’s stock.

In related news, insider John M. Zidich sold 17,954 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $10.71, for a total value of $192,287.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 20,579 shares of company stock worth $222,035. 0.74% of the stock is owned by insiders.

Several brokerages recently weighed in on GCI. Zacks Investment Research raised Gannett from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. ValuEngine raised Gannett from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy”.

Shares of Gannett Co., Inc. (NYSE:GCI) opened at $11.32 on Friday. The firm has a market capitalization of $1,265.22, a price-to-earnings ratio of 11.55 and a beta of 0.85. Gannett Co., Inc. has a 12 month low of $7.36 and a 12 month high of $12.38. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.43.

Gannett (NYSE:GCI) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.05. The company had revenue of $744.30 million for the quarter, compared to analysts’ expectations of $762.97 million. Gannett had a return on equity of 13.25% and a net margin of 1.43%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.21) earnings per share. analysts predict that Gannett Co., Inc. will post 0.9 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 26th. Investors of record on Tuesday, December 12th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Monday, December 11th. This represents a $0.64 annualized dividend and a yield of 5.65%. Gannett’s payout ratio is 164.11%.

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About Gannett

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.

Institutional Ownership by Quarter for Gannett (NYSE:GCI)

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