Pinebridge Investments L.P. decreased its position in Gannett Co Inc (NYSE:GCI) by 13.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 121,770 shares of the company’s stock after selling 19,245 shares during the quarter. Pinebridge Investments L.P.’s holdings in Gannett were worth $993,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Gannett in the second quarter valued at approximately $3,351,000. Parametric Portfolio Associates LLC grew its position in shares of Gannett by 5.9% in the second quarter. Parametric Portfolio Associates LLC now owns 1,253,471 shares of the company’s stock valued at $10,228,000 after purchasing an additional 70,251 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of Gannett by 50.7% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,934,105 shares of the company’s stock valued at $15,782,000 after purchasing an additional 650,900 shares during the last quarter. Commonwealth Bank of Australia grew its position in shares of Gannett by 96.6% in the second quarter. Commonwealth Bank of Australia now owns 57,994 shares of the company’s stock valued at $473,000 after purchasing an additional 28,494 shares during the last quarter. Finally, Quinn Opportunity Partners LLC acquired a new position in shares of Gannett in the second quarter valued at approximately $2,082,000. 95.78% of the stock is currently owned by institutional investors.
Shares of GCI stock traded up $0.12 during trading on Friday, hitting $10.96. The company had a trading volume of 54,329 shares, compared to its average volume of 1,326,841. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $1.24 billion, a P/E ratio of 10.09 and a beta of 1.28. The stock’s 50-day moving average price is $10.39 and its 200 day moving average price is $9.53. Gannett Co Inc has a one year low of $7.41 and a one year high of $11.99.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 5.84%. The ex-dividend date of this dividend is Friday, September 13th. Gannett’s dividend payout ratio (DPR) is currently 59.26%.
Several equities analysts have recently commented on GCI shares. Zacks Investment Research raised Gannett from a “hold” rating to a “strong-buy” rating and set a $12.00 target price on the stock in a research report on Saturday, August 10th. ValuEngine raised Gannett from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. Finally, Noble Financial reaffirmed a “market perform” rating on shares of Gannett in a research report on Tuesday, August 6th.
Gannett Company Profile
Gannett Co, Inc operates as a media and marketing solutions company. The company operates through Publishing and ReachLocal segments. It 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 150 news brands and 150 magazines in the United Kingdom.
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