Teachers Retirement System of The State of Kentucky held its position in shares of Gannett Co., Inc. (NYSE:GCI) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,900 shares of the company’s stock at the end of the first quarter. Teachers Retirement System of The State of Kentucky’s holdings in Gannett Co. were worth $326,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of GCI. HighTower Advisors LLC increased its stake in Gannett Co. by 107.3% in the first quarter. HighTower Advisors LLC now owns 450,192 shares of the company’s stock valued at $3,771,000 after buying an additional 232,974 shares during the last quarter. Credit Suisse AG increased its stake in Gannett Co. by 220.8% in the first quarter. Credit Suisse AG now owns 849,350 shares of the company’s stock valued at $7,118,000 after buying an additional 584,591 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Gannett Co. by 2.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 83,088 shares of the company’s stock valued at $696,000 after buying an additional 2,227 shares during the last quarter. Paloma Partners Management Co purchased a new stake in Gannett Co. during the first quarter valued at $887,000. Finally, National Asset Management Inc. increased its stake in Gannett Co. by 43.2% in the first quarter. National Asset Management Inc. now owns 18,673 shares of the company’s stock valued at $157,000 after buying an additional 5,633 shares during the last quarter. Institutional investors and hedge funds own 84.91% of the company’s stock.
Shares of Gannett Co., Inc. (GCI) opened at 8.18 on Friday. The stock has a 50 day moving average price of $8.69 and a 200-day moving average price of $8.47. Gannett Co., Inc. has a 52 week low of $7.30 and a 52 week high of $12.39. The stock’s market cap is $930.03 million.
Gannett Co. (NYSE:GCI) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.01. Gannett Co. had a negative net margin of 0.07% and a positive return on equity of 11.30%. The business had revenue of $774.50 million during the quarter, compared to analysts’ expectations of $783.06 million. During the same period in the prior year, the firm posted $0.30 EPS. Gannett Co.’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities analysts predict that Gannett Co., Inc. will post $0.98 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, September 1st will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 7.82%. The ex-dividend date is Wednesday, August 30th. Gannett Co.’s dividend payout ratio is presently -3,200.00%.
Several research firms have weighed in on GCI. Zacks Investment Research upgraded Gannett Co. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub downgraded Gannett Co. from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. TheStreet upgraded Gannett Co. from a “d” rating to a “c-” rating in a research note on Friday, June 23rd. ValuEngine downgraded Gannett Co. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Noble Financial reiterated a “buy” rating on shares of Gannett Co. in a research note on Sunday, May 14th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Gannett Co. has a consensus rating of “Hold” and an average target price of $16.00.
About Gannett Co.
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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