Gannett Co., Inc. (NYSE:GCI) Shares Sold by KCG Holdings Inc.
KCG Holdings Inc. reduced its position in shares of Gannett Co., Inc. (NYSE:GCI) by 36.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,592 shares of the company’s stock after selling 7,348 shares during the period. KCG Holdings Inc.’s holdings in Gannett Co. were worth $106,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. First Manhattan Co. boosted its position in shares of Gannett Co. by 87.7% in the first quarter. First Manhattan Co. now owns 11,162 shares of the company’s stock worth $129,000 after buying an additional 5,216 shares during the period. Great Lakes Advisors LLC bought a new position in shares of Gannett Co. during the first quarter worth about $105,000. TCI Wealth Advisors Inc. boosted its position in shares of Gannett Co. by 130.2% in the first quarter. TCI Wealth Advisors Inc. now owns 12,566 shares of the company’s stock worth $105,000 after buying an additional 7,108 shares during the period. Private Advisor Group LLC bought a new position in shares of Gannett Co. during the first quarter worth about $128,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Gannett Co. during the fourth quarter worth about $149,000. 84.08% of the stock is owned by institutional investors.
Gannett Co., Inc. (NYSE GCI) traded up 0.12% during mid-day trading on Friday, hitting $8.42. 170,805 shares of the stock traded hands. The stock has a 50 day moving average price of $8.76 and a 200 day moving average price of $8.53. The firm’s market cap is $957.31 million. Gannett Co., Inc. has a 12-month low of $7.30 and a 12-month high of $12.39.
Gannett Co. (NYSE:GCI) last released its earnings results on Thursday, August 3rd. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by $0.01. The firm had revenue of $774.50 million during the quarter, compared to analysts’ expectations of $783.06 million. Gannett Co. had a positive return on equity of 11.30% and a negative net margin of 0.07%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $0.30 earnings per share. On average, analysts expect that Gannett Co., Inc. will post $0.98 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Friday, September 1st will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 7.61%. The ex-dividend date of this dividend is Wednesday, August 30th. Gannett Co.’s dividend payout ratio (DPR) is currently -3,200.00%.
A number of brokerages have issued reports on GCI. BidaskClub cut shares of Gannett Co. from a “buy” rating to a “hold” rating in a report on Monday. Zacks Investment Research raised shares of Gannett Co. from a “sell” rating to a “hold” rating in a report on Tuesday. TheStreet raised shares of Gannett Co. from a “d” rating to a “c-” rating in a report on Friday, June 23rd. ValuEngine cut shares of Gannett Co. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Noble Financial reaffirmed a “buy” rating on shares of Gannett Co. in a report on Sunday, May 14th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $16.00.
Gannett Co. Company 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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