Nationwide Fund Advisors lessened its stake in Graham Holdings Co (NYSE:GHC) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,269 shares of the company’s stock after selling 201 shares during the quarter. Nationwide Fund Advisors owned about 0.24% of Graham worth $6,593,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Graham by 24.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 168 shares of the company’s stock worth $101,000 after acquiring an additional 33 shares during the period. Teacher Retirement System of Texas raised its position in shares of Graham by 7.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 370 shares of the company’s stock valued at $222,000 after purchasing an additional 25 shares in the last quarter. Shelton Capital Management acquired a new position in shares of Graham in the 2nd quarter valued at approximately $252,000. Cubist Systematic Strategies LLC acquired a new position in shares of Graham in the 2nd quarter valued at approximately $272,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Graham in the 2nd quarter valued at approximately $289,000. Hedge funds and other institutional investors own 69.00% of the company’s stock.
Shares of Graham Holdings Co (GHC) traded up $2.10 on Tuesday, hitting $565.60. The company’s stock had a trading volume of 11,800 shares, compared to its average volume of 19,050. Graham Holdings Co has a one year low of $502.25 and a one year high of $615.85. The firm has a market cap of $3,116.72, a price-to-earnings ratio of 22.96 and a beta of 0.75. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.91 and a current ratio of 1.99.
Graham declared that its Board of Directors has initiated a share buyback plan on Thursday, November 9th that allows the company to repurchase 500,000 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Graham Holdings Company, formerly The Washington Post Company, is a diversified education and media company whose principal operations include educational services, television broadcasting, cable television systems, and online, print and local TV news. The Company owns Kaplan, a provider of educational services to individuals, schools and businesses, serving over one million students annually with operations in more than 30 countries.
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