WBI Investments Inc. raised its holdings in shares of Gannett Co Inc (NYSE:GCI) by 133.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,797 shares of the company’s stock after buying an additional 34,164 shares during the period. WBI Investments Inc.’s holdings in Gannett were worth $599,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the business. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Gannett by 0.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,310,818 shares of the company’s stock valued at $23,133,000 after purchasing an additional 21,700 shares during the period. James Investment Research Inc. boosted its holdings in shares of Gannett by 17.1% in the third quarter. James Investment Research Inc. now owns 210,405 shares of the company’s stock valued at $2,106,000 after purchasing an additional 30,660 shares during the period. First Trust Advisors LP boosted its holdings in shares of Gannett by 13.8% in the third quarter. First Trust Advisors LP now owns 221,895 shares of the company’s stock valued at $2,221,000 after purchasing an additional 26,935 shares during the period. Alpha Windward LLC purchased a new stake in shares of Gannett in the third quarter valued at approximately $520,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Gannett by 28.9% in the third quarter. Nisa Investment Advisors LLC now owns 140,650 shares of the company’s stock valued at $1,408,000 after purchasing an additional 31,500 shares during the period. Institutional investors and hedge funds own 96.34% of the company’s stock.
Shares of NYSE GCI opened at $9.77 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $1.10 billion, a P/E ratio of 9.49 and a beta of 0.83. Gannett Co Inc has a 52-week low of $8.84 and a 52-week high of $12.38.
Gannett (NYSE:GCI) last posted its earnings results on Thursday, August 9th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.10. The company had revenue of $730.77 million during the quarter, compared to analyst estimates of $739.17 million. Gannett had a return on equity of 13.14% and a net margin of 0.83%. Gannett’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 earnings per share. Analysts anticipate that Gannett Co Inc will post 1.09 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 24th. Shareholders of record on Monday, December 10th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 7th. This represents a $0.64 dividend on an annualized basis and a yield of 6.55%. Gannett’s dividend payout ratio is currently 62.14%.
GCI has been the subject of a number of research reports. ValuEngine lowered Gannett from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. Noble Financial set a $15.00 price target on Gannett and gave the company a “buy” rating in a report on Friday, July 13th. Finally, Zacks Investment Research lowered Gannett from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Gannett has an average rating of “Hold” and an average target price of $12.50.
In other Gannett news, insider Andrew T. Yost sold 5,175 shares of the company’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $10.39, for a total transaction of $53,768.25. Following the completion of the sale, the insider now owns 7,034 shares in the company, valued at $73,083.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CMO Andrew T. Yost sold 3,500 shares of the company’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $10.31, for a total value of $36,085.00. Following the sale, the chief marketing officer now owns 3,534 shares of the company’s stock, valued at approximately $36,435.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,012 shares of company stock valued at $93,318. 1.06% of the stock is owned by company insiders.
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.
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