State of Tennessee Treasury Department lessened its stake in Gannett Co., Inc. (NYSE:GCI) by 5.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 101,874 shares of the company’s stock after selling 6,439 shares during the period. State of Tennessee Treasury Department owned 0.09% of Gannett worth $917,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Bank of Montreal Can boosted its holdings in Gannett by 0.7% in the 2nd quarter. Bank of Montreal Can now owns 12,571 shares of the company’s stock valued at $110,000 after purchasing an additional 89 shares in the last quarter. Stifel Financial Corp purchased a new stake in Gannett in the 2nd quarter valued at approximately $113,000. BB&T Securities LLC purchased a new stake in Gannett in the 2nd quarter valued at approximately $129,000. National Asset Management Inc. boosted its holdings in Gannett by 1.9% in the 2nd quarter. National Asset Management Inc. now owns 19,029 shares of the company’s stock valued at $167,000 after purchasing an additional 356 shares in the last quarter. Finally, WBI Investments Inc. purchased a new stake in Gannett in the 2nd quarter valued at approximately $170,000. Hedge funds and other institutional investors own 85.10% of the company’s stock.

A number of equities research analysts have weighed in on the company. Zacks Investment Research raised Gannett from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. ValuEngine raised Gannett from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, BidaskClub lowered Gannett from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Buy”.

Shares of Gannett Co., Inc. (GCI) traded up $0.06 during trading hours on Monday, hitting $11.66. The stock had a trading volume of 327,200 shares, compared to its average volume of 999,899. The stock has a market cap of $1,300.00 and a price-to-earnings ratio of 11.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.09 and a quick ratio of 1.09. Gannett Co., Inc. has a fifty-two week low of $7.36 and a fifty-two week high of $11.85.

Gannett (NYSE:GCI) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.05. The business had revenue of $744.30 million for the quarter, compared to analyst estimates of $762.97 million. Gannett had a return on equity of 13.25% and a net margin of 1.43%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.21) EPS. sell-side analysts expect that Gannett Co., Inc. will post 0.9 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 26th. Stockholders of record on Tuesday, December 12th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 5.49%. The ex-dividend date of this dividend is Monday, December 11th. Gannett’s dividend payout ratio (DPR) is 139.13%.

In other news, insider John M. Zidich sold 17,954 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $10.71, for a total transaction of $192,287.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 20,579 shares of company stock worth $222,035 in the last three months. Corporate insiders own 0.74% of the company’s stock.

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Gannett 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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Institutional Ownership by Quarter for Gannett (NYSE:GCI)

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