Gannett Co. (GCI) Shares Sold by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. cut its position in Gannett Co. (NYSE:GCI) by 9.9% during the second quarter, Holdings Channel reports. The fund owned 96,129 shares of the company’s stock after selling 10,576 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.08% of Gannett worth $1,328,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of GCI. Parkwood LLC acquired a new stake in shares of Gannett during the second quarter worth about $188,000. BlackRock Inc. raised its stake in shares of Gannett by 232.0% in the first quarter. BlackRock Inc. now owns 16,468 shares of the company’s stock worth $250,000 after buying an additional 11,508 shares during the last quarter. KBC Group NV acquired a new stake in shares of Gannett during the second quarter worth about $290,000. Commonwealth Equity Services Inc raised its stake in shares of Gannett by 7.3% in the first quarter. Commonwealth Equity Services Inc now owns 22,144 shares of the company’s stock worth $335,000 after buying an additional 1,508 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Gannett during the second quarter worth about $434,000. 91.75% of the stock is currently owned by hedge funds and other institutional investors.
Gannett Co. (NYSE:GCI) traded down 0.46% during trading on Friday, hitting $10.78. The stock had a trading volume of 1,054,905 shares. Gannett Co. has a 12-month low of $10.62 and a 12-month high of $17.91. The company has a 50 day moving average of $11.61 and a 200-day moving average of $13.83. The company has a market cap of $1.26 billion, a P/E ratio of 12.35 and a beta of 0.03.
Gannett (NYSE:GCI) last announced its earnings results on Wednesday, July 27th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $748.80 million for the quarter, compared to analyst estimates of $794.77 million. Gannett had a return on equity of 17.02% and a net margin of 3.62%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $0.46 earnings per share. On average, equities analysts predict that Gannett Co. will post $1.19 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Monday, December 5th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date is Thursday, December 1st. Gannett’s dividend payout ratio (DPR) is presently 74.42%.
GCI has been the topic of a number of research analyst reports. Noble Financial reissued a “buy” rating and issued a $23.00 price target on shares of Gannett in a research note on Wednesday, June 29th. Zacks Investment Research raised Gannett from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Thursday, July 21st. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Gannett in a research note on Monday, August 29th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $17.80.
Gannett Co, Inc is an international, multi-platform news and information company. The Company is a local content provider in the United States, operating in over 30 states and Guam. Its operations comprise approximately 110 daily publications and digital platforms in the United States and the United Kingdom, over 400 non-daily publications in the United States, and approximately 150 such titles in the United Kingdom.
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