Gannett Co., Inc. (GCI) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in shares of Gannett Co., Inc. (NYSE:GCI) by 2.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,720 shares of the company’s stock after selling 1,921 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of Gannett Co. worth $791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GCI. BlackRock Inc. lifted its holdings in shares of Gannett Co. by 43,997.2% during the 1st quarter. BlackRock Inc. now owns 14,361,136 shares of the company’s stock valued at $120,348,000 after buying an additional 14,328,569 shares during the period. Renaissance Technologies LLC bought a new position in Gannett Co. in the 1st quarter worth $9,330,000. Dimensional Fund Advisors LP raised its holdings in Gannett Co. by 19.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,109,673 shares of the company’s stock worth $53,277,000 after purchasing an additional 1,005,908 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Gannett Co. by 41.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,563,155 shares of the company’s stock worth $13,631,000 after purchasing an additional 461,479 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Gannett Co. by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 10,732,518 shares of the company’s stock worth $93,588,000 after purchasing an additional 439,304 shares during the period. 83.84% of the stock is currently owned by hedge funds and other institutional investors.

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A number of equities analysts recently commented on the company. Zacks Investment Research raised Gannett Co. from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. BidaskClub raised Gannett Co. from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, ValuEngine raised Gannett Co. from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Gannett Co. has a consensus rating of “Buy”.

In related news, insider John M. Zidich sold 17,954 shares of Gannett Co. stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $10.71, for a total value of $192,287.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.74% of the company’s stock.

Gannett Co., Inc. (NYSE GCI) opened at $11.28 on Friday. The firm has a market capitalization of $1,197.05, a PE ratio of 10.93 and a beta of 0.59. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.43. Gannett Co., Inc. has a 12-month low of $7.36 and a 12-month high of $11.41.

Gannett Co. (NYSE:GCI) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.05. The firm had revenue of $744.30 million during the quarter, compared to analyst estimates of $762.97 million. Gannett Co. had a return on equity of 13.25% and a net margin of 1.43%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.21) earnings per share. sell-side analysts forecast that Gannett Co., Inc. will post 0.9 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 26th. Investors of record on Tuesday, December 12th will be given a $0.16 dividend. The ex-dividend date is Monday, December 11th. This represents a $0.64 annualized dividend and a yield of 5.67%. Gannett Co.’s dividend payout ratio is currently 164.11%.

About Gannett Co.

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.

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

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