Gannett Co Inc (GCI) Shares Bought by North Star Investment Management Corp.

North Star Investment Management Corp. boosted its stake in shares of Gannett Co Inc (NYSE:GCI) by 5.1% in the 4th quarter, reports. The institutional investor owned 351,488 shares of the company’s stock after acquiring an additional 17,057 shares during the quarter. North Star Investment Management Corp.’s holdings in Gannett were worth $4,074,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Stifel Financial Corp purchased a new position in Gannett during the second quarter worth about $113,000. National Asset Management Inc. lifted its position in shares of Gannett by 1.9% during the second quarter. National Asset Management Inc. now owns 19,029 shares of the company’s stock worth $167,000 after purchasing an additional 356 shares in the last quarter. WBI Investments Inc. acquired a new stake in shares of Gannett during the second quarter worth about $170,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Gannett during the second quarter worth about $214,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Gannett during the second quarter worth about $219,000. 84.66% of the stock is owned by institutional investors.

Separately, Zacks Investment Research raised shares of Gannett from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Buy”.

In other news, insider John M. Zidich sold 17,954 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $10.71, for a total transaction of $192,287.34. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 20,579 shares of company stock worth $222,035 in the last three months. Corporate insiders own 0.74% of the company’s stock.

Shares of Gannett Co Inc (GCI) traded up $0.01 on Thursday, hitting $11.55. 899,800 shares of the stock traded hands, compared to its average volume of 1,017,414. The firm has a market capitalization of $1,290.00 and a PE ratio of 25.11. Gannett Co Inc has a 1-year low of $7.36 and a 1-year high of $12.38. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.09 and a quick ratio of 1.09.

Gannett (NYSE:GCI) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.05. The business had revenue of $744.30 million for the quarter, compared to analysts’ expectations of $762.97 million. Gannett had a net margin of 1.43% and a return on equity of 13.25%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.21) earnings per share. equities research analysts forecast that Gannett Co Inc will post 0.94 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 26th. Stockholders of record on Tuesday, December 12th were given a dividend of $0.16 per share. The ex-dividend date was Monday, December 11th. This represents a $0.64 annualized dividend and a dividend yield of 5.54%. Gannett’s dividend payout ratio is presently 139.13%.

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Gannett 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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Institutional Ownership by Quarter for Gannett (NYSE:GCI)

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