Cambria Investment Management L.P. lessened its position in shares of Gannett Co Inc (NYSE:GCI) by 7.2% in the first quarter, HoldingsChannel.com reports. The firm owned 155,167 shares of the company’s stock after selling 12,083 shares during the quarter. Cambria Investment Management L.P.’s holdings in Gannett were worth $1,635,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in GCI. Teachers Advisors LLC raised its stake in shares of Gannett by 3.8% in the 3rd quarter. Teachers Advisors LLC now owns 235,614 shares of the company’s stock valued at $2,358,000 after purchasing an additional 8,579 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Gannett by 10.3% in the 3rd quarter. Legal & General Group Plc now owns 366,372 shares of the company’s stock valued at $3,676,000 after purchasing an additional 34,296 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Gannett by 7.2% in the 3rd quarter. Vanguard Group Inc. now owns 12,836,904 shares of the company’s stock valued at $128,497,000 after purchasing an additional 862,310 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Gannett by 83.6% in the 4th quarter. Bank of Montreal Can now owns 136,723 shares of the company’s stock valued at $1,167,000 after purchasing an additional 62,269 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Gannett by 33.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,091 shares of the company’s stock valued at $69,000 after purchasing an additional 2,034 shares in the last quarter. 94.65% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on GCI shares. Zacks Investment Research lowered shares of Gannett from a “hold” rating to a “sell” rating in a research note on Wednesday, February 27th. ValuEngine lowered shares of Gannett from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. Gannett has an average rating of “Hold” and a consensus target price of $11.67.
Shares of Gannett stock opened at $7.85 on Thursday. The stock has a market capitalization of $905.85 million, a PE ratio of 7.27 and a beta of 1.22. Gannett Co Inc has a 1 year low of $7.78 and a 1 year high of $11.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.55.
Gannett (NYSE:GCI) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.08. The firm had revenue of $663.40 million for the quarter, compared to analyst estimates of $677.85 million. Gannett had a net margin of 0.12% and a return on equity of 11.24%. Gannett’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.13 earnings per share. Sell-side analysts forecast that Gannett Co Inc will post 0.59 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 10th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, June 7th. This represents a $0.64 annualized dividend and a yield of 8.15%. Gannett’s dividend payout ratio (DPR) is 59.26%.
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Gannett Co, Inc operates as a media and marketing solutions company. The company operates through Publishing and ReachLocal segments. It 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 150 news brands and 150 magazines in the United Kingdom.
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