Quinn Opportunity Partners LLC Has $10.72 Million Holdings in Gannett Co., Inc. (GCI)
Quinn Opportunity Partners LLC boosted its stake in Gannett Co., Inc. (NYSE:GCI) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,229,626 shares of the company’s stock after buying an additional 17,960 shares during the period. Gannett Co. accounts for approximately 1.8% of Quinn Opportunity Partners LLC’s investment portfolio, making the stock its 15th largest holding. Quinn Opportunity Partners LLC owned 1.08% of Gannett Co. worth $10,722,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. First Manhattan Co. increased its position in Gannett Co. by 87.7% in the first quarter. First Manhattan Co. now owns 11,162 shares of the company’s stock worth $129,000 after buying an additional 5,216 shares during the period. Great Lakes Advisors LLC acquired a new stake in Gannett Co. in the first quarter worth $105,000. Bank of Montreal Can increased its position in Gannett Co. by 0.7% in the second quarter. Bank of Montreal Can now owns 12,571 shares of the company’s stock worth $110,000 after buying an additional 89 shares during the period. BB&T Securities LLC acquired a new stake in Gannett Co. in the second quarter worth $129,000. Finally, Private Advisor Group LLC acquired a new stake in Gannett Co. in the first quarter worth $128,000. 81.63% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Gannett Co., Inc. (GCI) traded up 1.83% during midday trading on Tuesday, reaching $8.90. The company’s stock had a trading volume of 219,796 shares. Gannett Co., Inc. has a 52-week low of $7.30 and a 52-week high of $12.39. The company’s market capitalization is $1.01 billion. The stock has a 50 day moving average price of $8.63 and a 200-day moving average price of $8.41.
Gannett Co. (NYSE:GCI) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $774.50 million during the quarter, compared to analyst estimates of $783.06 million. Gannett Co. had a positive return on equity of 11.30% and a negative net margin of 0.07%. Gannett Co.’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 EPS. Equities research analysts expect that Gannett Co., Inc. will post $0.98 EPS for the current 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 paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 7.32%. The ex-dividend date of this dividend is Wednesday, August 30th. Gannett Co.’s dividend payout ratio is currently -3,200.00%.
Several equities research analysts have weighed in on GCI shares. Noble Financial reaffirmed a “buy” rating on shares of Gannett Co. in a research report on Sunday, May 14th. ValuEngine lowered Gannett Co. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. TheStreet raised Gannett Co. from a “d” rating to a “c-” rating in a research report on Friday, June 23rd. BidaskClub raised Gannett Co. from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Finally, Zacks Investment Research lowered Gannett Co. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus 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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