361 Capital LLC Purchases New Stake in Gannett Co., Inc. (GCI)
361 Capital LLC purchased a new position in shares of Gannett Co., Inc. (NYSE:GCI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 40,180 shares of the company’s stock, valued at approximately $350,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Gannett Co. by 43,997.2% during the 1st quarter. BlackRock Inc. now owns 14,361,136 shares of the company’s stock valued at $120,348,000 after acquiring an additional 14,328,569 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Gannett Co. during the 1st quarter valued at about $9,330,000. Dimensional Fund Advisors LP grew its position in shares of Gannett Co. by 19.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,109,673 shares of the company’s stock valued at $53,277,000 after acquiring an additional 1,005,908 shares during the period. Credit Suisse AG grew its position in shares of Gannett Co. by 220.8% during the 1st quarter. Credit Suisse AG now owns 849,350 shares of the company’s stock valued at $7,118,000 after acquiring an additional 584,591 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Gannett Co. by 41.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,563,155 shares of the company’s stock valued at $13,631,000 after acquiring an additional 461,479 shares during the period. 81.61% of the stock is currently owned by institutional investors.
Shares of Gannett Co., Inc. (GCI) traded down 1.05% on Thursday, reaching $9.44. 92,556 shares of the company were exchanged. The company’s market capitalization is $1.07 billion. Gannett Co., Inc. has a 52-week low of $7.30 and a 52-week high of $11.05. The stock has a 50 day moving average of $8.79 and a 200-day moving average of $8.79.
Gannett Co. (NYSE:GCI) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Gannett Co. had a positive return on equity of 11.30% and a negative net margin of 0.07%. The firm had revenue of $774.50 million for the quarter, compared to analyst estimates of $783.06 million. During the same quarter last year, the firm earned $0.30 earnings per share. The company’s revenue was up 3.4% compared to the same quarter last year. On average, analysts predict that Gannett Co., Inc. will post $0.98 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Friday, September 1st were paid a dividend of $0.16 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.71%. Gannett Co.’s dividend payout ratio (DPR) is -3,200.00%.
A number of equities research analysts have recently commented on GCI shares. ValuEngine upgraded Gannett Co. from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub upgraded Gannett Co. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. TheStreet upgraded Gannett Co. from a “d” rating to a “c-” rating in a research report on Friday, June 23rd. Finally, Zacks Investment Research upgraded Gannett Co. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $16.00.
Gannett Co. Company Profile
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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