Point72 Asset Management L.P. acquired a new stake in Gannett Co Inc (NYSE:GCI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 25,731 shares of the company’s stock, valued at approximately $232,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of Montreal Can increased its stake 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 buying an additional 89 shares during the period. Stifel Financial Corp acquired a new position in Gannett in the 2nd quarter valued at $113,000. Koch Industries Inc. acquired a new position in Gannett in the 2nd quarter valued at $127,000. BB&T Securities LLC acquired a new position in Gannett in the 2nd quarter valued at $129,000. Finally, National Asset Management Inc. increased its stake 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 buying an additional 356 shares during the period. 84.66% of the stock is currently owned by institutional investors.
Gannett Co Inc (NYSE GCI) opened at $11.88 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.09 and a current ratio of 1.09. Gannett Co Inc has a 12 month low of $7.36 and a 12 month high of $12.38. The firm has a market cap of $1,319.99, a price-to-earnings ratio of 30.46 and a beta of 0.85.
The business 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. The ex-dividend date of this dividend is Monday, December 11th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.39%. Gannett’s dividend payout ratio (DPR) is presently 164.11%.
In other news, insider John M. Zidich sold 17,954 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $10.71, for a total transaction of $192,287.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 20,579 shares of company stock worth $222,035. Corporate insiders own 0.74% of the company’s stock.
Several equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Gannett from a “hold” rating to a “strong sell” rating in a research note on Monday, October 9th. ValuEngine raised shares of Gannett from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Buy”.
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Gannett Company 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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