Crossmark Global Holdings Inc. purchased a new stake in shares of Gannett Co., Inc. (NYSE:GCI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 50,221 shares of the company’s stock, valued at approximately $452,000.
A number of other hedge funds have also recently added to or reduced their stakes in GCI. Bank of Montreal Can grew its position in Gannett by 0.7% during 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 period. Stifel Financial Corp acquired a new stake in Gannett during the second quarter valued at $113,000. Koch Industries Inc. acquired a new stake in Gannett during the second quarter valued at $127,000. BB&T Securities LLC acquired a new stake in Gannett during the second quarter valued at $129,000. Finally, National Asset Management Inc. grew its position in shares of Gannett by 1.9% in the second quarter. National Asset Management Inc. now owns 19,029 shares of the company’s stock valued at $167,000 after purchasing an additional 356 shares during the period. Institutional investors own 84.77% of the company’s stock.
Shares of Gannett Co., Inc. (NYSE:GCI) traded down $0.35 during midday trading on Thursday, hitting $11.34. 1,244,602 shares of the stock traded hands, compared to its average volume of 1,048,722. Gannett Co., Inc. has a 1-year low of $7.36 and a 1-year high of $12.38. The firm has a market capitalization of $1,305.46, a price-to-earnings ratio of 11.92 and a beta of 0.85. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.43.
Gannett (NYSE:GCI) last announced its earnings results on Thursday, November 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.05. The business had revenue of $744.30 million for the quarter, compared to analyst estimates of $762.97 million. Gannett had a net margin of 1.43% and a return on equity of 13.25%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.21) earnings per share. equities analysts expect that Gannett Co., Inc. will post 0.9 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 26th. Stockholders of record on Tuesday, December 12th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 5.64%. The ex-dividend date of this dividend is Monday, December 11th. Gannett’s dividend payout ratio is currently 164.11%.
Several analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Gannett from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. ValuEngine upgraded shares of Gannett from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Buy”.
In other news, insider John M. Zidich sold 17,954 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $10.71, for a total value of $192,287.34. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders sold 20,579 shares of company stock worth $222,035. Insiders own 0.74% of the company’s stock.
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Gannett 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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