Alpha Windward LLC Invests $520,000 in Gannett Co Inc (GCI)
Alpha Windward LLC purchased a new stake in shares of Gannett Co Inc (NYSE:GCI) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 51,900 shares of the company’s stock, valued at approximately $520,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Suntrust Banks Inc. bought a new stake in shares of Gannett during the first quarter valued at approximately $117,000. NJ State Employees Deferred Compensation Plan purchased a new position in Gannett during the third quarter valued at $120,000. Itau Unibanco Holding S.A. purchased a new position in Gannett during the second quarter valued at $136,000. CSat Investment Advisory L.P. purchased a new position in Gannett during the second quarter valued at $160,000. Finally, Trexquant Investment LP purchased a new position in Gannett during the second quarter valued at $166,000. Institutional investors own 98.27% of the company’s stock.
In other news, insider Andrew T. Yost sold 5,175 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $10.39, for a total value of $53,768.25. Following the completion of the transaction, the insider now owns 7,034 shares in the company, valued at $73,083.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Andrew T. Yost sold 3,500 shares of the business’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $10.31, for a total value of $36,085.00. Following the completion of the transaction, the chief marketing officer now owns 3,534 shares of the company’s stock, valued at approximately $36,435.54. The disclosure for this sale can be found here. Insiders have sold 9,012 shares of company stock valued at $93,318 in the last quarter. 1.06% of the stock is owned by company insiders.
Gannett (NYSE:GCI) last announced its quarterly earnings data on Thursday, August 9th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.10. The business had revenue of $730.77 million during the quarter, compared to analysts’ expectations of $739.17 million. Gannett had a return on equity of 13.14% and a net margin of 0.83%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 earnings per share. As a group, research analysts anticipate that Gannett Co Inc will post 1.07 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 24th. Shareholders of record on Monday, December 10th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 6.75%. The ex-dividend date is Friday, December 7th. Gannett’s payout ratio is 62.14%.
A number of research analysts have issued reports on GCI shares. Noble Financial set a $15.00 price objective on Gannett and gave the company a “buy” rating in a research note on Tuesday, August 28th. TheStreet upgraded Gannett from a “c” rating to a “b-” rating in a research note on Friday, June 22nd. ValuEngine cut Gannett from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Zacks Investment Research cut Gannett from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut Gannett from a “neutral” rating to an “underweight” rating and set a $10.00 price objective for the company. in a research note on Friday, July 6th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $12.50.
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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