Mission Wealth Management LP lessened its holdings in Gannett Co Inc (NYSE:GCI) by 10.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,213 shares of the company’s stock after selling 2,520 shares during the quarter. Mission Wealth Management LP’s holdings in Gannett were worth $239,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in GCI. HG Vora Capital Management LLC grew its position in shares of Gannett by 1,021.4% during the 2nd quarter. HG Vora Capital Management LLC now owns 7,850,000 shares of the company’s stock worth $64,056,000 after buying an additional 7,150,000 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its stake in Gannett by 50.7% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,934,105 shares of the company’s stock valued at $15,782,000 after buying an additional 650,900 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Gannett by 2.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,750,651 shares of the company’s stock worth $14,286,000 after purchasing an additional 35,782 shares during the last quarter. UBS Group AG raised its stake in shares of Gannett by 89.6% in the second quarter. UBS Group AG now owns 1,424,805 shares of the company’s stock worth $11,626,000 after purchasing an additional 673,314 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Gannett by 11.2% in the second quarter. Prudential Financial Inc. now owns 1,257,426 shares of the company’s stock worth $10,261,000 after purchasing an additional 126,930 shares during the last quarter. 93.64% of the stock is currently owned by institutional investors.
Shares of NYSE:GCI traded down $0.03 during trading on Friday, reaching $10.30. The stock had a trading volume of 1,902,885 shares, compared to its average volume of 1,609,720. Gannett Co Inc has a 1-year low of $7.41 and a 1-year high of $11.99. The stock has a market cap of $1.22 billion, a PE ratio of 9.54 and a beta of 1.28. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.82. The business has a fifty day moving average price of $10.77 and a 200-day moving average price of $9.58.
Gannett (NYSE:GCI) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.09. Gannett had a return on equity of 9.69% and a net margin of 0.41%. The firm had revenue of $635.60 million for the quarter, compared to the consensus estimate of $670.56 million. During the same quarter last year, the business posted $0.20 earnings per share. The firm’s revenue was down 10.7% compared to the same quarter last year. Sell-side analysts expect that Gannett Co Inc will post 0.62 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Friday, November 1st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.64 annualized dividend and a dividend yield of 6.21%. Gannett’s dividend payout ratio is presently 59.26%.
Several research firms recently commented on GCI. Zacks Investment Research raised Gannett from a “hold” rating to a “strong-buy” rating and set a $12.00 target price on the stock in a report on Wednesday. Noble Financial reaffirmed a “market perform” rating on shares of Gannett in a report on Tuesday, August 6th. Finally, ValuEngine raised Gannett from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th.
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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