Gannett Co., Inc. (GCI) Shares Bought by Los Angeles Capital Management & Equity Research Inc.
Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Gannett Co., Inc. (NYSE:GCI) by 1.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 433,832 shares of the company’s stock after acquiring an additional 6,650 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned about 0.39% of Gannett Co. worth $3,904,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Piedmont Investment Advisors LLC acquired a new position in shares of Gannett Co. during the second quarter valued at about $214,000. Contrarius Investment Management Ltd acquired a new position in shares of Gannett Co. during the second quarter valued at about $3,558,000. Prudential Financial Inc. raised its holdings in shares of Gannett Co. by 21.8% during the second quarter. Prudential Financial Inc. now owns 876,516 shares of the company’s stock valued at $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% during the second quarter. Quinn Opportunity Partners LLC now owns 1,229,626 shares of the company’s stock valued at $10,722,000 after purchasing an additional 17,960 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of Gannett Co. by 43,997.2% during the first quarter. BlackRock Inc. now owns 14,361,136 shares of the company’s stock valued at $120,348,000 after purchasing an additional 14,328,569 shares during the period. Hedge funds and other institutional investors own 85.10% of the company’s stock.
In other Gannett Co. news, insider John M. Zidich sold 17,954 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 20,579 shares of company stock valued at $222,035. Company insiders own 0.74% of the company’s stock.
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Several brokerages have recently weighed in on GCI. BidaskClub lowered shares of Gannett Co. from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Zacks Investment Research upgraded shares of Gannett Co. from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, ValuEngine upgraded shares of Gannett Co. from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Gannett Co. currently has a consensus rating of “Buy”.
Shares of Gannett Co., Inc. (NYSE:GCI) opened at $11.50 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.09 and a quick ratio of 1.09. Gannett Co., Inc. has a fifty-two week low of $7.36 and a fifty-two week high of $11.66. The firm has a market cap of $1,266.34, a PE ratio of 11.56 and a beta of 0.59.
Gannett Co. (NYSE:GCI) last posted its earnings results on Thursday, November 2nd. The company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.05. Gannett Co. had a net margin of 1.43% and a return on equity of 13.25%. The company had revenue of $744.30 million for the quarter, compared to analyst estimates of $762.97 million. During the same quarter in the prior year, the business posted ($0.21) EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. analysts expect that Gannett Co., Inc. will post 0.9 earnings per share for the current fiscal year.
The company 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. The ex-dividend date of this dividend is Monday, December 11th. This represents a $0.64 annualized dividend and a yield of 5.57%. Gannett Co.’s dividend payout ratio (DPR) is 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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