Swiss National Bank increased its holdings in shares of Gannett Co Inc (NYSE:GCI) by 6.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,208 shares of the company’s stock after purchasing an additional 11,400 shares during the period. Swiss National Bank owned approximately 0.18% of Gannett worth $2,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of GCI. Wells Fargo & Company MN raised its holdings in shares of Gannett by 28.3% during the first quarter. Wells Fargo & Company MN now owns 1,867,067 shares of the company’s stock worth $18,633,000 after purchasing an additional 411,293 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of Gannett by 10.5% during the first quarter. Prudential Financial Inc. now owns 1,003,432 shares of the company’s stock worth $10,014,000 after purchasing an additional 95,546 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Gannett by 23.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 119,778 shares of the company’s stock worth $1,195,000 after purchasing an additional 22,968 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Gannett by 7.4% during the first quarter. Thrivent Financial for Lutherans now owns 75,965 shares of the company’s stock worth $758,000 after purchasing an additional 5,241 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of Gannett during the first quarter worth $105,000. 98.27% of the stock is owned by hedge funds and other institutional investors.
In other Gannett news, CMO Andrew T. Yost sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $10.31, for a total transaction of $36,085.00. Following the completion of the transaction, the chief marketing officer now owns 3,534 shares in the company, valued at approximately $36,435.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew T. Yost sold 5,175 shares of the company’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $10.39, for a total transaction of $53,768.25. Following the completion of the transaction, the insider now owns 7,034 shares of the company’s stock, valued at approximately $73,083.26. The disclosure for this sale can be found here. Insiders sold a total of 9,012 shares of company stock worth $93,318 over the last three months. Insiders own 1.06% of the company’s stock.
Several research firms recently commented on GCI. ValuEngine upgraded shares of Gannett from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. JPMorgan Chase & Co. lowered shares of Gannett from a “neutral” rating to an “underweight” rating and set a $10.00 target price on the stock. in a research report on Friday, July 6th. Noble Financial set a $15.00 target price on shares of Gannett and gave the company a “buy” rating in a research report on Friday, July 13th. Finally, TheStreet upgraded shares of Gannett from a “c” rating to a “b-” rating in a research report on Friday, June 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $12.50.
GCI traded down $0.01 on Friday, reaching $10.24. 839,043 shares of the company’s stock were exchanged, compared to its average volume of 1,128,332. The firm has a market capitalization of $1.13 billion, a PE ratio of 9.94 and a beta of 0.91. Gannett Co Inc has a twelve month low of $8.42 and a twelve month high of $12.38. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.30.
Gannett (NYSE:GCI) last posted its quarterly earnings results on Thursday, August 9th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.10. The firm had revenue of $730.77 million for the quarter, compared to analyst estimates of $739.17 million. Gannett had a net margin of 0.83% and a return on equity of 13.14%. Gannett’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 earnings per share. As a group, analysts predict that Gannett Co Inc will post 1.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 24th. Shareholders of record on Monday, September 10th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 6.25%. The ex-dividend date of this dividend was Friday, September 7th. Gannett’s dividend payout ratio (DPR) is presently 62.14%.
Gannett Company Profile
Gannett Co, Inc operates as a media and marketing solutions company. The company operates through Publishing and ReachLocal segments. The company 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 170 news brands and 80 magazines in the United Kingdom.
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