Jane Street Group LLC Acquires New Position in Gannett (GCI)

Jane Street Group LLC acquired a new stake in shares of Gannett (NYSE:GCI) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 39,066 shares of the company’s stock, valued at approximately $453,000.

A number of other hedge funds have also recently bought and sold shares of GCI. Sei Investments Co. lifted its stake in Gannett by 40.7% during the third quarter. Sei Investments Co. now owns 27,516 shares of the company’s stock valued at $248,000 after buying an additional 7,955 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in Gannett during the third quarter valued at about $331,000. JPMorgan Chase & Co. lifted its stake in Gannett by 158.4% during the third quarter. JPMorgan Chase & Co. now owns 1,549,481 shares of the company’s stock valued at $13,915,000 after buying an additional 949,923 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Gannett by 4.3% during the third quarter. Wells Fargo & Company MN now owns 1,359,619 shares of the company’s stock valued at $12,237,000 after buying an additional 55,980 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Gannett by 15.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,797,837 shares of the company’s stock valued at $16,181,000 after buying an additional 234,682 shares in the last quarter. 89.45% of the stock is owned by institutional investors.

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Separately, ValuEngine raised shares of Gannett from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy”.

In other news, insider John M. Zidich sold 28,089 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $10.21, for a total value of $286,788.69. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Walker Henry K. Faure sold 20,097 shares of the company’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $10.03, for a total value of $201,572.91. Following the completion of the transaction, the chief executive officer now owns 1,351 shares in the company, valued at approximately $13,550.53. The disclosure for this sale can be found here. Insiders sold a total of 78,673 shares of company stock worth $804,778 in the last quarter. 1.06% of the stock is owned by corporate insiders.

GCI stock opened at $9.29 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.16 and a debt-to-equity ratio of 0.35. Gannett has a one year low of $7.36 and a one year high of $12.38. The stock has a market cap of $1,034.60, a price-to-earnings ratio of 9.02 and a beta of 0.94.

Gannett (NYSE:GCI) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.09. The company had revenue of $854.00 million during the quarter, compared to analyst estimates of $848.74 million. Gannett had a net margin of 0.22% and a return on equity of 13.29%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 earnings per share. sell-side analysts predict that Gannett will post 1 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 26th. Stockholders of record on Monday, March 12th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, March 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.89%. Gannett’s dividend payout ratio is 62.14%.

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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.

Institutional Ownership by Quarter for Gannett (NYSE:GCI)

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