Mraz Amerine & Associates Inc. trimmed its stake in Gannett Co Inc (NYSE:GCI) by 5.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,275 shares of the company’s stock after selling 3,050 shares during the period. Mraz Amerine & Associates Inc.’s holdings in Gannett were worth $394,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GCI. Investors Research Corp purchased a new position in shares of Gannett in the 1st quarter valued at $31,000. Meeder Asset Management Inc. grew its position in shares of Gannett by 85.3% in the 1st quarter. Meeder Asset Management Inc. now owns 6,366 shares of the company’s stock valued at $66,000 after buying an additional 2,930 shares during the last quarter. Quantamental Technologies LLC grew its position in shares of Gannett by 400.9% in the 1st quarter. Quantamental Technologies LLC now owns 9,092 shares of the company’s stock valued at $96,000 after buying an additional 7,277 shares during the last quarter. Arden Trust Co purchased a new position in shares of Gannett in the 2nd quarter valued at $114,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Gannett in the 1st quarter valued at $180,000. 96.55% of the stock is currently owned by hedge funds and other institutional investors.

Gannett stock traded up $0.02 during midday trading on Friday, hitting $9.85. 2,509,900 shares of the company’s stock were exchanged, compared to its average volume of 3,802,064. Gannett Co Inc has a 12-month low of $7.41 and a 12-month high of $11.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 0.82. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 9.12 and a beta of 1.30. The firm’s 50 day simple moving average is $9.22 and its 200 day simple moving average is $9.61.

Gannett (NYSE:GCI) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.08. Gannett had a net margin of 0.50% and a return on equity of 10.32%. The company had revenue of $660.30 million for the quarter, compared to the consensus estimate of $689.92 million. During the same period last year, the firm posted $0.31 EPS. Gannett’s revenue for the quarter was down 9.6% on a year-over-year basis. On average, equities research analysts forecast that Gannett Co Inc will post 0.56 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 6.50%. The ex-dividend date of this dividend is Friday, September 13th. Gannett’s payout ratio is currently 59.26%.

Several research analysts have issued reports on the stock. Zacks Investment Research raised shares of Gannett from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective on the stock in a research report on Saturday, August 10th. Noble Financial reissued a “market perform” rating on shares of Gannett in a research report on Tuesday, August 6th. Finally, ValuEngine raised shares of Gannett from a “hold” rating to a “buy” rating in a research report on Friday, July 19th.

Gannett Profile

Gannett Co, Inc operates as a media and marketing solutions company. The company operates through Publishing and ReachLocal segments. It offers print and digital daily and non-daily publications under the USA TODAY NETWORK brand name in the United States; and Newsquest, which has print and online publications portfolio of approximately 150 news brands and 150 magazines in the United Kingdom.

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Institutional Ownership by Quarter for Gannett (NYSE:GCI)

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