Cornerstone Capital Management Holdings LLC. Takes Position in Gannett (GCI)

Cornerstone Capital Management Holdings LLC. acquired a new stake in Gannett (NYSE:GCI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 308,100 shares of the company’s stock, valued at approximately $3,570,000.

Several other large investors also recently modified their holdings of the company. Stifel Financial Corp lifted its position in Gannett by 39.3% during the third quarter. Stifel Financial Corp now owns 18,167 shares of the company’s stock worth $162,000 after buying an additional 5,124 shares during the period. Teachers Advisors LLC lifted its position in Gannett by 2.6% during the fourth quarter. Teachers Advisors LLC now owns 214,176 shares of the company’s stock worth $2,482,000 after buying an additional 5,499 shares during the period. Teachers Retirement System of The State of Kentucky lifted its position in Gannett by 14.3% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 47,900 shares of the company’s stock worth $555,000 after buying an additional 6,000 shares during the period. Sei Investments Co. lifted its position in Gannett by 40.7% during the third quarter. Sei Investments Co. now owns 27,516 shares of the company’s stock worth $248,000 after buying an additional 7,955 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its position in Gannett by 11.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 88,056 shares of the company’s stock worth $1,021,000 after buying an additional 8,726 shares during the period. Institutional investors and hedge funds own 89.45% of the company’s stock.

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Separately, ValuEngine upgraded Gannett from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Gannett currently has a consensus rating of “Buy”.

Gannett stock opened at $9.87 on Friday. Gannett has a 12-month low of $7.36 and a 12-month high of $12.38. The firm has a market capitalization of $1,128.24, a PE ratio of 164.50 and a beta of 1.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.16.

Gannett (NYSE:GCI) last released its earnings results on Tuesday, February 20th. The company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.09. The firm had revenue of $854.00 million for the quarter, compared to the consensus estimate of $848.74 million. Gannett had a return on equity of 13.29% and a net margin of 0.22%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 earnings per share. analysts predict that Gannett will post 1.01 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Monday, March 12th will be issued a $0.16 dividend. The ex-dividend date is Friday, March 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.48%. Gannett’s dividend payout ratio (DPR) is 1,066.67%.

In other news, SVP Barbara W. Wall sold 10,954 shares of the firm’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $10.43, for a total value of $114,250.22. Following the transaction, the senior vice president now directly owns 18,023 shares in the company, valued at approximately $187,979.89. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Walker Henry K. Faure sold 20,097 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $10.03, for a total value of $201,572.91. Following the completion of the transaction, the chief executive officer now owns 1,351 shares in the company, valued at $13,550.53. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,673 shares of company stock worth $804,778. Company insiders own 0.74% of the company’s stock.

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Gannett 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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