Nisa Investment Advisors LLC boosted its holdings in shares of Gannett Co Inc (NYSE:GCI) by 19.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 164,050 shares of the company’s stock after acquiring an additional 26,700 shares during the period. Nisa Investment Advisors LLC’s holdings in Gannett were worth $1,339,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Crossmark Global Holdings Inc. raised its holdings in Gannett by 3.8% during the second quarter. Crossmark Global Holdings Inc. now owns 34,360 shares of the company’s stock worth $280,000 after buying an additional 1,259 shares during the last quarter. Mason Street Advisors LLC raised its holdings in shares of Gannett by 4.7% in the first quarter. Mason Street Advisors LLC now owns 36,761 shares of the company’s stock valued at $387,000 after purchasing an additional 1,635 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Gannett by 2.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 80,847 shares of the company’s stock valued at $690,000 after purchasing an additional 1,778 shares during the last quarter. Piedmont Investment Advisors Inc. raised its holdings in shares of Gannett by 6.7% in the first quarter. Piedmont Investment Advisors Inc. now owns 28,721 shares of the company’s stock valued at $303,000 after purchasing an additional 1,801 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Gannett by 1.4% in the first quarter. Arizona State Retirement System now owns 176,578 shares of the company’s stock valued at $1,861,000 after purchasing an additional 2,391 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.
Several brokerages have recently commented on GCI. ValuEngine upgraded shares of Gannett from a “hold” rating to a “buy” rating in a report on Friday, July 19th. Zacks Investment Research upgraded shares of Gannett from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st.
Shares of GCI stock traded up $0.58 on Friday, hitting $10.75. The stock had a trading volume of 1,271,555 shares, compared to its average volume of 1,121,048. The company’s 50 day moving average is $8.70. The company has a market cap of $1.17 billion, a PE ratio of 9.95 and a beta of 1.30. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.00 and a current ratio of 1.00. Gannett Co Inc has a 12-month low of $7.41 and a 12-month high of $11.99.
Gannett (NYSE:GCI) last announced its earnings results on Wednesday, May 1st. The company reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.08. The company had revenue of $663.40 million during the quarter, compared to the consensus estimate of $677.85 million. Gannett had a net margin of 0.12% and a return on equity of 11.24%. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.13 earnings per share. As a group, equities analysts forecast that Gannett Co Inc will post 0.54 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.64 annualized dividend and a dividend yield of 5.95%. Gannett’s dividend payout ratio is currently 59.26%.
Gannett Company Profile
Gannett Co, Inc operates as a media and marketing solutions company. The company operates through Publishing and ReachLocal segments. It 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 150 news brands and 150 magazines in the United Kingdom.
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