Stone Ridge Asset Management LLC grew its position in Gannett Co Inc (NYSE:GCI) by 10.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,536 shares of the company’s stock after buying an additional 10,922 shares during the quarter. Stone Ridge Asset Management LLC’s holdings in Gannett were worth $1,147,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GCI. Acadian Asset Management LLC acquired a new position in shares of Gannett in the second quarter worth about $17,775,000. Millennium Management LLC boosted its holdings in shares of Gannett by 1,547.3% in the second quarter. Millennium Management LLC now owns 1,207,217 shares of the company’s stock worth $12,917,000 after buying an additional 1,133,934 shares during the period. BlackRock Inc. boosted its holdings in shares of Gannett by 6.7% in the second quarter. BlackRock Inc. now owns 15,612,646 shares of the company’s stock worth $167,055,000 after buying an additional 982,808 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Gannett by 9.9% in the second quarter. Dimensional Fund Advisors LP now owns 9,223,937 shares of the company’s stock worth $98,696,000 after buying an additional 829,856 shares during the period. Finally, LSV Asset Management boosted its holdings in shares of Gannett by 12.4% in the second quarter. LSV Asset Management now owns 5,062,586 shares of the company’s stock worth $54,169,000 after buying an additional 557,050 shares during the period. Institutional investors own 98.01% of the company’s stock.

NYSE GCI opened at $9.76 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $1.09 billion, a PE ratio of 9.48 and a beta of 0.83. Gannett Co Inc has a 52-week low of $9.04 and a 52-week high of $12.38.

Gannett (NYSE:GCI) last posted its quarterly earnings results on Thursday, November 8th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The business had revenue of $711.70 million during the quarter, compared to analyst estimates of $723.60 million. Gannett had a net margin of 0.52% and a return on equity of 12.75%. The firm’s revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 earnings per share. Sell-side analysts predict that Gannett Co Inc will post 1.13 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 24th. Stockholders of record on Monday, December 10th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.56%. The ex-dividend date is Friday, December 7th. Gannett’s dividend payout ratio (DPR) is 62.14%.

Several research analysts have commented on the stock. Zacks Investment Research cut shares of Gannett from a “buy” rating to a “hold” rating in a report on Thursday. ValuEngine cut shares of Gannett from a “hold” rating to a “sell” rating in a report on Tuesday. TheStreet lowered shares of Gannett from a “b-” rating to a “c” rating in a research report on Thursday, November 8th. Finally, Noble Financial set a $17.00 price target on shares of Gannett and gave the stock a “buy” rating in a research report on Friday, August 10th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $12.00.

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Gannett Company Profile

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.

Further Reading: Technical Analysis

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Institutional Ownership by Quarter for Gannett (NYSE:GCI)

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