CNH Partners LLC Sells 511,248 Shares of Gannett Co., Inc. (GCI)

CNH Partners LLC decreased its holdings in Gannett Co., Inc. (NYSE:GCI) by 63.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 294,634 shares of the company’s stock after selling 511,248 shares during the period. CNH Partners LLC owned approximately 0.26% of Gannett Co. worth $2,569,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GCI. OppenheimerFunds Inc. increased its holdings in shares of Gannett Co. by 52.7% during the 1st quarter. OppenheimerFunds Inc. now owns 280,057 shares of the company’s stock worth $2,346,000 after buying an additional 96,623 shares during the last quarter. Contrarius Investment Management Ltd acquired a new stake in shares of Gannett Co. during the 2nd quarter worth approximately $3,558,000. Credit Suisse AG increased its holdings in shares of Gannett Co. by 220.8% during the 1st quarter. Credit Suisse AG now owns 849,350 shares of the company’s stock worth $7,118,000 after buying an additional 584,591 shares during the last quarter. Quinn Opportunity Partners LLC increased its holdings in shares of Gannett Co. by 1.5% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 1,229,626 shares of the company’s stock worth $10,722,000 after buying an additional 17,960 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Gannett Co. by 2.2% during the 1st quarter. FMR LLC now owns 1,694,572 shares of the company’s stock worth $14,201,000 after buying an additional 36,654 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Shares of Gannett Co., Inc. (NYSE:GCI) traded down 0.85% during mid-day trading on Monday, hitting $9.38. 144,719 shares of the stock were exchanged. Gannett Co., Inc. has a one year low of $7.30 and a one year high of $11.91. The company has a 50-day moving average of $8.69 and a 200 day moving average of $8.69. The stock’s market cap is $1.07 billion.

Gannett Co. (NYSE:GCI) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The firm had revenue of $774.50 million during the quarter, compared to analyst estimates of $783.06 million. Gannett Co. had a negative net margin of 0.07% and a positive return on equity of 11.30%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 EPS. On average, equities analysts predict that Gannett Co., Inc. will post $0.98 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Friday, September 1st were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date was Wednesday, August 30th. Gannett Co.’s dividend payout ratio is presently -3,200.00%.

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GCI has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of Gannett Co. from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub upgraded shares of Gannett Co. from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. TheStreet upgraded shares of Gannett Co. from a “d” rating to a “c-” rating in a report on Friday, June 23rd. Finally, Zacks Investment Research upgraded shares of Gannett Co. from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $16.00.

Gannett Co. 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.

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

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