Nisa Investment Advisors LLC Has $523,000 Position in Gannett Co., Inc. (GCI)
Nisa Investment Advisors LLC increased its stake in shares of Gannett Co., Inc. (NYSE:GCI) by 113.3% during the second quarter, Holdings Channel reports. The fund owned 64,000 shares of the company’s stock after buying an additional 34,000 shares during the period. Nisa Investment Advisors LLC’s holdings in Gannett Co. were worth $523,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. State of Alaska Department of Revenue increased its position in shares of Gannett Co. by 77.8% in the second quarter. State of Alaska Department of Revenue now owns 22,421 shares of the company’s stock valued at $195,000 after buying an additional 9,811 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Gannett Co. during the second quarter valued at $213,000. Bank of Montreal Can increased its position in shares of Gannett Co. by 0.7% in the second quarter. Bank of Montreal Can now owns 12,571 shares of the company’s stock valued at $110,000 after buying an additional 89 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Gannett Co. by 52.1% in the first quarter. Public Employees Retirement System of Ohio now owns 26,662 shares of the company’s stock valued at $223,000 after buying an additional 9,131 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Gannett Co. by 107.3% in the first quarter. HighTower Advisors LLC now owns 450,192 shares of the company’s stock valued at $3,771,000 after buying an additional 232,974 shares during the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.
Gannett Co., Inc. (GCI) traded down 2.5526% during midday trading on Thursday, hitting $8.4292. The company had a trading volume of 251,414 shares. The stock has a 50 day moving average price of $8.76 and a 200-day moving average price of $8.53. The stock’s market capitalization is $958.36 million. Gannett Co., Inc. has a 52 week low of $7.30 and a 52 week high of $12.39.
Gannett Co. (NYSE:GCI) last announced its earnings results on Thursday, August 3rd. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.01. Gannett Co. had a negative net margin of 0.07% and a positive return on equity of 11.30%. The business had revenue of $774.50 million for the quarter, compared to analyst estimates of $783.06 million. During the same period in the prior year, the company earned $0.30 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities analysts predict that Gannett Co., Inc. will post $0.95 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, September 1st will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 7.40%. The ex-dividend date of this dividend is Wednesday, August 30th. Gannett Co.’s dividend payout ratio is currently -3,200.00%.
Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Gannett Co. from a “sell” rating to a “hold” rating in a report on Tuesday. BidaskClub cut Gannett Co. from a “buy” rating to a “hold” rating in a research report on Monday. TheStreet raised Gannett Co. from a “d” rating to a “c-” rating in a research report on Friday, June 23rd. ValuEngine cut Gannett Co. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Noble Financial reaffirmed a “buy” rating on shares of Gannett Co. in a research report on Sunday, May 14th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average 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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