GANNETT CO INC. Common Stock (NYSE:TGNA) Position Trimmed by Alpine Associates Management Inc.

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Alpine Associates Management Inc. decreased its holdings in shares of GANNETT CO INC. Common Stock (NYSE:TGNA) by 25.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 264,577 shares of the company’s stock after selling 92,500 shares during the quarter. Alpine Associates Management Inc. owned about 0.12% of GANNETT CO INC. Common Stock worth $3,012,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in TGNA. Schroder Investment Management Group boosted its stake in GANNETT CO INC. Common Stock by 104.7% during the 4th quarter. Schroder Investment Management Group now owns 7,802,625 shares of the company’s stock valued at $109,861,000 after purchasing an additional 3,991,060 shares during the period. Ariel Investments LLC boosted its stake in GANNETT CO INC. Common Stock by 22.9% during the 4th quarter. Ariel Investments LLC now owns 7,500,773 shares of the company’s stock valued at $105,611,000 after purchasing an additional 1,395,820 shares during the period. Fairpointe Capital LLC boosted its stake in GANNETT CO INC. Common Stock by 10.9% during the 4th quarter. Fairpointe Capital LLC now owns 11,373,812 shares of the company’s stock valued at $160,143,000 after purchasing an additional 1,119,057 shares during the period. Allianz Asset Management GmbH boosted its stake in GANNETT CO INC. Common Stock by 1,224.1% during the 4th quarter. Allianz Asset Management GmbH now owns 906,891 shares of the company’s stock valued at $12,769,000 after purchasing an additional 838,402 shares during the period. Finally, BlackRock Inc. boosted its stake in GANNETT CO INC. Common Stock by 4.2% during the 1st quarter. BlackRock Inc. now owns 18,532,233 shares of the company’s stock valued at $211,083,000 after purchasing an additional 746,191 shares during the period. Hedge funds and other institutional investors own 96.08% of the company’s stock.

Shares of GANNETT CO INC. Common Stock opened at $11.38 on Friday, according to MarketBeat Ratings. GANNETT CO INC. Common Stock has a 1 year low of $10.00 and a 1 year high of $15.60. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 3.08. The company has a market capitalization of $2.47 billion, a PE ratio of 10.54, a P/E/G ratio of 0.46 and a beta of 1.57.

GANNETT CO INC. Common Stock (NYSE:TGNA) last issued its earnings results on Tuesday, May 8th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.03. GANNETT CO INC. Common Stock had a return on equity of 27.89% and a net margin of 23.56%. The business had revenue of $502.10 million during the quarter, compared to analysts’ expectations of $497.35 million. During the same period in the prior year, the firm posted $0.33 EPS. GANNETT CO INC. Common Stock’s quarterly revenue was up 9.4% compared to the same quarter last year. equities research analysts expect that GANNETT CO INC. Common Stock will post 1.72 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 8th will be issued a $0.07 dividend. The ex-dividend date is Thursday, June 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.46%. GANNETT CO INC. Common Stock’s payout ratio is presently 25.93%.

Several analysts recently weighed in on TGNA shares. Barclays set a $12.00 target price on GANNETT CO INC. Common Stock and gave the company a “sell” rating in a research note on Sunday, March 4th. Noble Financial restated a “buy” rating on shares of GANNETT CO INC. Common Stock in a research note on Friday, March 2nd. Benchmark reiterated a “buy” rating and issued a $19.00 price objective on shares of GANNETT CO INC. Common Stock in a research report on Thursday, February 22nd. Royal Bank of Canada reiterated a “hold” rating and issued a $14.00 price objective on shares of GANNETT CO INC. Common Stock in a research report on Tuesday, April 3rd. Finally, B. Riley reduced their price objective on GANNETT CO INC. Common Stock from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, March 20th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $15.08.

GANNETT CO INC. Common Stock Profile

TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.

Institutional Ownership by Quarter for GANNETT CO INC. Common Stock (NYSE:TGNA)

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