New York State Common Retirement Fund Has $1.07 Million Stake in Gannett Co., Inc. (GCI)
New York State Common Retirement Fund reduced its stake in shares of Gannett Co., Inc. (NYSE:GCI) by 26.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 122,249 shares of the company’s stock after selling 43,401 shares during the quarter. New York State Common Retirement Fund owned 0.11% of Gannett Co. worth $1,066,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in GCI. Bank of Montreal Can grew its holdings in shares of Gannett Co. by 0.7% during the 2nd quarter. Bank of Montreal Can now owns 12,571 shares of the company’s stock worth $110,000 after purchasing an additional 89 shares in the last quarter. BB&T Securities LLC acquired a new stake in shares of Gannett Co. during the 2nd quarter worth $129,000. WBI Investments Inc. acquired a new stake in shares of Gannett Co. during the 2nd quarter worth $170,000. Sei Investments Co. grew its holdings in shares of Gannett Co. by 48.7% during the 2nd quarter. Sei Investments Co. now owns 19,561 shares of the company’s stock worth $171,000 after purchasing an additional 6,409 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in shares of Gannett Co. by 77.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 22,421 shares of the company’s stock worth $195,000 after purchasing an additional 9,811 shares in the last quarter. 82.56% of the stock is currently owned by institutional investors.
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Gannett Co. (NYSE:GCI) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The company had revenue of $774.50 million for the quarter, compared to the consensus estimate of $783.06 million. Gannett Co. had a negative net margin of 0.07% and a positive return on equity of 11.30%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 earnings per share.
The firm also recently announced 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 is Monday, December 11th. This represents a $0.64 dividend on an annualized basis and a yield of Infinity. Gannett Co.’s dividend payout ratio is currently -3,200.00%.
Several analysts have recently issued reports on GCI shares. 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, August 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. Gannett Co. presently has a consensus rating of “Hold”.
About Gannett Co.
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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