Allianz Asset Management GmbH lowered its position in Gannett Co Inc (NYSE:GCI) by 7.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 642,061 shares of the company’s stock after selling 52,932 shares during the period. Allianz Asset Management GmbH owned approximately 0.57% of Gannett worth $5,778,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can boosted its position in Gannett 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. Stifel Financial Corp purchased a new stake in Gannett in the second quarter valued at approximately $113,000. Koch Industries Inc. purchased a new stake in Gannett in the second quarter valued at approximately $127,000. BB&T Securities LLC purchased a new stake in Gannett in the second quarter valued at approximately $129,000. Finally, National Asset Management Inc. boosted its position in 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 buying an additional 356 shares during the last quarter. Hedge funds and other institutional investors own 84.66% of the company’s stock.
Shares of Gannett Co Inc (GCI) traded down $0.05 during midday trading on Thursday, reaching $11.50. The company had a trading volume of 667,300 shares, compared to its average volume of 1,350,000. 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 Co Inc has a 52-week low of $7.36 and a 52-week high of $12.38. The stock has a market capitalization of $1,290.00 and a price-to-earnings ratio of 25.00.
Gannett (NYSE:GCI) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $744.30 million for the quarter, compared to analyst estimates of $762.97 million. During the same quarter in the prior year, the firm posted ($0.21) EPS. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. sell-side analysts anticipate that Gannett Co Inc will post 0.94 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 26th. Shareholders of record on Tuesday, December 12th were given a $0.16 dividend. The ex-dividend date was Monday, December 11th. This represents a $0.64 annualized dividend and a yield of 5.57%. Gannett’s dividend payout ratio is presently 139.13%.
In other Gannett news, insider John M. Zidich sold 17,954 shares of the company’s stock in a transaction that occurred on 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 document filed with the SEC, which is accessible through this link. In the last 90 days, insiders sold 20,579 shares of company stock worth $222,035. Insiders own 0.74% of the company’s stock.
Separately, Zacks Investment Research lowered Gannett from a “hold” rating to a “strong sell” rating in a research report on Monday, October 9th. Two investment analysts have rated the stock with a hold rating and two have assigned 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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