Jefferies Group LLC acquired a new position in Gannett Co Inc (NYSE:GCI) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 512,597 shares of the company’s stock, valued at approximately $5,131,000. Jefferies Group LLC owned 0.45% of Gannett at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in GCI. Sun Life Financial INC acquired a new position in shares of Gannett in the 2nd quarter worth approximately $215,000. Sei Investments Co. boosted its position in shares of Gannett by 16.3% in the 2nd quarter. Sei Investments Co. now owns 38,186 shares of the company’s stock worth $409,000 after purchasing an additional 5,343 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Gannett by 9.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,223,937 shares of the company’s stock worth $98,696,000 after purchasing an additional 829,856 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Gannett in the 2nd quarter worth $363,000. Finally, Nisa Investment Advisors LLC boosted its position in shares of Gannett by 28.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 140,650 shares of the company’s stock worth $1,408,000 after purchasing an additional 31,500 shares during the last quarter. Institutional investors own 97.89% of the company’s stock.
Several research analysts have weighed in on GCI shares. Noble Financial set a $17.00 target price on Gannett and gave the stock a “buy” rating in a report on Friday, August 10th. ValuEngine upgraded Gannett from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Zacks Investment Research lowered Gannett from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Finally, TheStreet lowered Gannett from a “b-” rating to a “c” rating in a report on Thursday, November 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $12.00.
Shares of Gannett stock opened at $10.10 on Friday. The stock has a market capitalization of $1.15 billion, a PE ratio of 8.57 and a beta of 0.85. Gannett Co Inc has a one year low of $9.04 and a one year high of $12.23. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.02 and a current ratio of 1.02.
Gannett (NYSE:GCI) last issued its quarterly earnings results on Thursday, November 8th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The company had revenue of $711.70 million for the quarter, compared to analyst estimates of $723.60 million. Gannett had a return on equity of 12.75% and a net margin of 0.52%. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 earnings per share. Analysts predict that Gannett Co Inc will post 1.13 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 24th. Stockholders of record on Monday, December 10th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, December 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.34%. Gannett’s dividend payout ratio (DPR) 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.
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