Athena Global Investors Lowers stake in Gannett Co Inc (GCI)

Gannett Co Inc (GCI) : Athena Global Investors reduced its stake in Gannett Co Inc by 38.52% during the most recent quarter end. The investment management company now holds a total of 20,168 shares of Gannett Co Inc which is valued at $234,756 after selling 12,634 shares in Gannett Co Inc , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Gannett Co Inc makes up approximately 0.35% of Athena Global Investors’s portfolio.

Other Hedge Funds, Including , Feltz Wealth Plan reduced its stake in GCI by selling 12 shares or 10.71% in the most recent quarter. The Hedge Fund company now holds 100 shares of GCI which is valued at $1,164.Msi Financial Services Inc reduced its stake in GCI by selling 4,258 shares or 83.93% in the most recent quarter. The Hedge Fund company now holds 815 shares of GCI which is valued at $10,603.

Gannett Co Inc opened for trading at $11.72 and hit $12.2 on the upside on Monday, eventually ending the session at $12.15, with a gain of 4.29% or 0.5 points. The heightened volatility saw the trading volume jump to 18,69,096 shares. Company has a market cap of $1,416 M.

On the company’s financial health, Gannett Co Inc reported $0.30 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.31. The company had revenue of $748.79 million for the quarter, compared to analysts expectations of $775.78 million. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS.

Investors should note that on Jul 19, 2016, Gannett Co Inc announced a cash dividend of $0.1600. The company’s management has announced Sep 1, 2016 as the ex-dividend date and fixed the record date on Sep 6, 2016. The payable date has been fixed on Sep 19, 2016.

Gannett Co. Inc. formerly Gannett Spinco Inc. is a media and marketing solutions company. The Company is engaged in providing local content on a range of platforms in the United States. The Company operates through Broadcasting and Digital segments. It also provides digital marketing services and Internet-based human resource solutions. Its digital media products and services include search social media and Website development among others. The Company offers its services in a range of geographies demographics and content areas. The Company provides consumers with the information and entertainment and connects consumers to their communities through various platforms such as television stations desktop smartphone and tablet products. Its Broadcasting segment includes an independent station group of network affiliates. Its Digital business segment includes CareerBuilder PointRoll and Shoplocal.

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