BNP Paribas Arbitrage SA raised its stake in shares of Gannett Co., Inc. (NYSE:GCI) by 38.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 79,720 shares of the company’s stock after buying an additional 22,065 shares during the period. BNP Paribas Arbitrage SA owned about 0.07% of Gannett worth $717,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Gannett by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 10,732,518 shares of the company’s stock valued at $93,588,000 after acquiring an additional 439,304 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Gannett by 19.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,109,673 shares of the company’s stock valued at $53,277,000 after acquiring an additional 1,005,908 shares during the period. State Street Corp grew its position in shares of Gannett by 3.1% during the 2nd quarter. State Street Corp now owns 3,165,173 shares of the company’s stock valued at $27,595,000 after acquiring an additional 96,469 shares during the period. FMR LLC grew its position in shares of Gannett by 5.9% during the 2nd quarter. FMR LLC now owns 1,793,801 shares of the company’s stock valued at $15,642,000 after acquiring an additional 99,229 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Gannett by 41.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,563,155 shares of the company’s stock valued at $13,631,000 after acquiring an additional 461,479 shares during the period. Institutional investors and hedge funds own 84.77% of the company’s stock.
Gannett Co., Inc. (NYSE GCI) traded up $0.33 during trading hours on Tuesday, hitting $11.81. The stock had a trading volume of 2,327,700 shares, compared to its average volume of 1,040,917. Gannett Co., Inc. has a 52-week low of $7.36 and a 52-week high of $11.95. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $1,283.11, a PE ratio of 11.71 and a beta of 0.85.
Gannett (NYSE:GCI) last posted its earnings results on Thursday, November 2nd. The company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.05. Gannett had a return on equity of 13.25% and a net margin of 1.43%. The firm had revenue of $744.30 million for the quarter, compared to analysts’ expectations of $762.97 million. During the same period last year, the firm earned ($0.21) EPS. The company’s quarterly revenue was down 3.6% on a year-over-year basis. equities research analysts expect that Gannett Co., Inc. will post 0.9 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 26th. Investors of record on Tuesday, December 12th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 5.42%. The ex-dividend date is Monday, December 11th. Gannett’s payout ratio is 164.11%.
In related news, insider John M. Zidich sold 17,954 shares of Gannett stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $10.71, for a total value of $192,287.34. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 20,579 shares of company stock worth $222,035. 0.74% of the stock is currently owned by insiders.
A number of equities research analysts have recently commented on the company. BidaskClub cut Gannett from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Zacks Investment Research upgraded Gannett from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, ValuEngine upgraded Gannett from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Buy”.
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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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