Metropolitan Life Insurance Co. NY reduced its position in Gannett (NYSE:GCI) by 58.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 32,925 shares of the company’s stock after selling 45,997 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Gannett were worth $382,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fox Run Management L.L.C. acquired a new position in shares of Gannett during the 4th quarter worth $117,000. Meeder Asset Management Inc. grew its stake in shares of Gannett by 213.9% during the 4th quarter. Meeder Asset Management Inc. now owns 13,886 shares of the company’s stock worth $161,000 after purchasing an additional 9,462 shares during the period. HBK Investments L P acquired a new position in shares of Gannett during the 4th quarter worth $161,000. BlueCrest Capital Management Ltd acquired a new position in shares of Gannett during the 4th quarter worth $180,000. Finally, Stifel Financial Corp grew its stake in shares of Gannett by 39.3% during the 3rd quarter. Stifel Financial Corp now owns 18,167 shares of the company’s stock worth $162,000 after purchasing an additional 5,124 shares during the period. 89.46% of the stock is currently owned by institutional investors.
In other news, SVP Barbara W. Wall sold 10,954 shares of the company’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $10.43, for a total transaction of $114,250.22. Following the transaction, the senior vice president now directly owns 18,023 shares of the company’s stock, valued at approximately $187,979.89. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John M. Zidich sold 28,089 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $10.21, for a total transaction of $286,788.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,673 shares of company stock worth $804,778. Corporate insiders own 1.06% of the company’s stock.
Gannett (NYSE:GCI) last posted its quarterly earnings results on Tuesday, February 20th. The company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.09. Gannett had a net margin of 0.22% and a return on equity of 13.29%. The business had revenue of $854.00 million for the quarter, compared to analysts’ expectations of $848.74 million. During the same period in the prior year, the company posted $0.50 EPS. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. equities research analysts expect that Gannett will post 1 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 26th. Stockholders of record on Monday, March 12th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, March 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.69%. Gannett’s dividend payout ratio (DPR) is presently 62.14%.
Separately, ValuEngine raised shares of Gannett from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy”.
Gannett Co, Inc operates as a media and marketing solutions company. The company operates through Publishing and ReachLocal segments. The company 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 170 news brands and 80 magazines in the United Kingdom.
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