Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Buys Shares of 111,600 Gannett Co Inc (GCI)
Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in shares of Gannett Co Inc (NYSE:GCI) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 111,600 shares of the company’s stock, valued at approximately $1,194,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned 0.10% of Gannett as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sun Life Financial INC bought a new position in Gannett in the 2nd quarter worth about $215,000. Sei Investments Co. boosted its holdings in shares of Gannett by 16.3% in the second quarter. Sei Investments Co. now owns 38,186 shares of the company’s stock valued at $409,000 after acquiring an additional 5,343 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Gannett in the second quarter valued at approximately $363,000. Dimensional Fund Advisors LP boosted its holdings in shares of Gannett by 9.9% in the second quarter. Dimensional Fund Advisors LP now owns 9,223,937 shares of the company’s stock valued at $98,696,000 after acquiring an additional 829,856 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Gannett by 0.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,858,863 shares of the company’s stock valued at $19,890,000 after acquiring an additional 9,952 shares in the last quarter. Hedge funds and other institutional investors own 98.27% of the company’s stock.
NYSE:GCI traded down $0.05 during trading hours on Friday, reaching $9.53. 1,058,415 shares of the company’s stock were exchanged, compared to its average volume of 1,131,376. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 9.25 and a beta of 0.91. Gannett Co Inc has a 12 month low of $8.42 and a 12 month high of $12.38. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.22 and a current ratio of 1.22.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 24th. Investors of record on Monday, September 10th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 6.72%. The ex-dividend date was Friday, September 7th. Gannett’s payout ratio is 62.14%.
GCI has been the subject of several recent analyst reports. Noble Financial set a $15.00 price objective on shares of Gannett and gave the company a “buy” rating in a report on Tuesday, August 28th. ValuEngine cut shares of Gannett from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. JPMorgan Chase & Co. cut shares of Gannett from a “neutral” rating to an “underweight” rating and set a $10.00 price objective for the company. in a report on Friday, July 6th. Finally, TheStreet upgraded shares of Gannett from a “c” rating to a “b-” rating in a report on Friday, June 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $12.50.
In related news, CMO Andrew T. Yost sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $10.31, for a total value of $36,085.00. Following the completion of the sale, the chief marketing officer now owns 3,534 shares in the company, valued at approximately $36,435.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew T. Yost sold 5,175 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $10.39, for a total transaction of $53,768.25. Following the completion of the sale, the insider now owns 7,034 shares of the company’s stock, valued at approximately $73,083.26. The disclosure for this sale can be found here. Insiders have sold 9,012 shares of company stock valued at $93,318 over the last 90 days. 1.06% of the stock is currently owned by insiders.
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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