Legal & General Group Plc Boosts Position in Gannett Co Inc (GCI)

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Legal & General Group Plc boosted its stake in Gannett Co Inc (NYSE:GCI) by 10.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 366,372 shares of the company’s stock after acquiring an additional 34,296 shares during the quarter. Legal & General Group Plc owned 0.32% of Gannett worth $3,676,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. NJ State Employees Deferred Compensation Plan acquired a new stake in Gannett in the 3rd quarter valued at $120,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in Gannett in the 3rd quarter valued at $150,000. Pacer Advisors Inc. increased its stake in Gannett by 68.7% in the 3rd quarter. Pacer Advisors Inc. now owns 27,825 shares of the company’s stock valued at $279,000 after buying an additional 11,334 shares during the last quarter. United Services Automobile Association increased its stake in Gannett by 41.6% in the 2nd quarter. United Services Automobile Association now owns 29,471 shares of the company’s stock valued at $315,000 after buying an additional 8,655 shares during the last quarter. Finally, Commonwealth Bank of Australia acquired a new stake in Gannett in the 3rd quarter valued at $295,000. 97.71% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have issued reports on the stock. ValuEngine upgraded shares of Gannett from a “hold” rating to a “buy” rating in a research note on Tuesday, January 15th. Zacks Investment Research lowered shares of Gannett from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 15th. Finally, TheStreet lowered shares of Gannett from a “b-” rating to a “c” rating in a research note on Thursday, November 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $11.67.

Shares of GCI stock opened at $11.00 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.30. Gannett Co Inc has a 1 year low of $8.37 and a 1 year high of $11.99. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 10.68 and a beta of 1.32.

Gannett (NYSE:GCI) last issued its quarterly earnings results on Thursday, November 8th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. The firm had revenue of $711.70 million for the quarter, compared to analyst estimates of $723.60 million. Gannett had a net margin of 0.52% and a return on equity of 12.75%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 EPS. Research analysts expect that Gannett Co Inc will post 1.14 EPS for the current year.

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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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