512,597 Shares in Gannett Co Inc (GCI) Purchased by Jefferies Group LLC

Jefferies Group LLC bought a new stake in Gannett Co Inc (NYSE:GCI) during the third quarter, Holdings Channel reports. The firm bought 512,597 shares of the company’s stock, valued at approximately $5,131,000.

Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Gannett by 3.7% in the third quarter. BlackRock Inc. now owns 16,183,546 shares of the company’s stock valued at $161,997,000 after acquiring an additional 570,900 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Gannett by 3.0% in the third quarter. Dimensional Fund Advisors LP now owns 9,498,396 shares of the company’s stock valued at $95,079,000 after buying an additional 274,459 shares during the period. LSV Asset Management boosted its stake in shares of Gannett by 2.3% in the third quarter. LSV Asset Management now owns 5,176,751 shares of the company’s stock valued at $51,819,000 after buying an additional 114,165 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Gannett by 4.1% in the third quarter. Bank of New York Mellon Corp now owns 3,288,985 shares of the company’s stock valued at $32,922,000 after buying an additional 129,340 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Gannett by 0.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,310,818 shares of the company’s stock valued at $23,133,000 after buying an additional 21,700 shares during the period. 97.89% of the stock is currently owned by institutional investors and hedge funds.

NYSE GCI opened at $10.10 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.02 and a quick ratio of 1.02. Gannett Co Inc has a fifty-two week low of $9.04 and a fifty-two week high of $12.23. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 8.57 and a beta of 0.85.

Gannett (NYSE:GCI) last released its earnings results on Thursday, November 8th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. Gannett had a return on equity of 12.75% and a net margin of 0.52%. The firm had revenue of $711.70 million during the quarter, compared to analysts’ expectations of $723.60 million. During the same period in the prior year, the company earned $0.17 earnings per share. The company’s quarterly revenue was down 4.4% on a year-over-year basis. As a group, analysts predict that Gannett Co Inc will post 1.13 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 24th. Shareholders of record on Monday, December 10th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 6.34%. The ex-dividend date of this dividend is Friday, December 7th. Gannett’s payout ratio is presently 62.14%.

Several research firms have weighed in on GCI. ValuEngine upgraded Gannett from a “sell” rating to a “hold” rating in a research note on Monday, November 26th. Zacks Investment Research cut Gannett from a “buy” rating to a “hold” rating in a research note on Thursday, November 15th. TheStreet cut Gannett from a “b-” rating to a “c” rating in a research note on Thursday, November 8th. Finally, Noble Financial set a $15.00 target price on Gannett and gave the stock a “buy” rating in a research note on Tuesday, August 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $12.00.

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Gannett Company Profile

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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Institutional Ownership by Quarter for Gannett (NYSE:GCI)

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