Great West Life Assurance Co. Can cut its position in shares of Gannett Co Inc (NYSE:GCI) by 5.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 153,021 shares of the company’s stock after selling 8,500 shares during the period. Great West Life Assurance Co. Can owned about 0.14% of Gannett worth $1,372,000 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 increased its position in Gannett by 0.7% during the 2nd 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 in the last quarter. Aperio Group LLC increased its position in Gannett by 51.8% during the 2nd quarter. Aperio Group LLC now owns 69,965 shares of the company’s stock valued at $610,000 after buying an additional 23,874 shares in the last quarter. Texas Permanent School Fund increased its position in Gannett by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 82,928 shares of the company’s stock valued at $723,000 after buying an additional 692 shares in the last quarter. Sei Investments Co. increased its position in Gannett by 48.7% during the 2nd quarter. Sei Investments Co. now owns 19,561 shares of the company’s stock valued at $171,000 after buying an additional 6,409 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in 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 buying an additional 461,479 shares in the last quarter. 84.66% of the stock is owned by institutional investors and hedge funds.
In related news, insider John M. Zidich sold 17,954 shares of the 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 20,579 shares of company stock valued at $222,035 in the last three months. Insiders own 0.74% of the company’s stock.
Shares of Gannett Co Inc (GCI) traded up $0.34 on Friday, hitting $11.84. The stock had a trading volume of 1,000,000 shares, compared to its average volume of 1,290,000. The stock has a market capitalization of $1,320.00 and a P/E ratio of 25.74. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.43. Gannett Co Inc has a 1 year low of $7.36 and a 1 year high of $12.38.
Gannett (NYSE:GCI) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. Gannett had a return on equity of 13.25% and a net margin of 1.43%. The company had revenue of $744.30 million for the quarter, compared to the consensus estimate of $762.97 million. During the same quarter in the prior year, the business posted ($0.21) earnings per share. Gannett’s revenue for the quarter was down 3.6% on a year-over-year basis. equities research analysts expect that Gannett Co Inc will post 0.94 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 26th. Shareholders of record on Tuesday, December 12th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, December 11th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.41%. Gannett’s payout ratio is currently 139.13%.
Separately, Zacks Investment Research upgraded Gannett from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Gannett currently has an average 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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