Empowered Funds LLC Increases Holdings in Gannett Co., Inc. (NYSE:GCI)

Empowered Funds LLC increased its position in Gannett Co., Inc. (NYSE:GCI) by 5.4% during the third quarter, HoldingsChannel.com reports. The fund owned 887,446 shares of the company’s stock after acquiring an additional 45,158 shares during the quarter. Empowered Funds LLC’s holdings in Gannett were worth $4,987,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GCI. Rhumbline Advisers grew its holdings in Gannett by 1.5% in the second quarter. Rhumbline Advisers now owns 231,252 shares of the company’s stock valued at $1,066,000 after purchasing an additional 3,333 shares during the last quarter. Aigen Investment Management LP grew its stake in Gannett by 22.5% in the 3rd quarter. Aigen Investment Management LP now owns 18,549 shares of the company’s stock valued at $104,000 after acquiring an additional 3,405 shares during the last quarter. Silverberg Bernstein Capital Management LLC increased its holdings in Gannett by 0.8% during the 3rd quarter. Silverberg Bernstein Capital Management LLC now owns 515,066 shares of the company’s stock valued at $2,895,000 after acquiring an additional 4,200 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Gannett by 9.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 88,368 shares of the company’s stock worth $216,000 after acquiring an additional 7,732 shares during the last quarter. Finally, Simplicity Wealth LLC lifted its holdings in shares of Gannett by 77.9% in the second quarter. Simplicity Wealth LLC now owns 18,166 shares of the company’s stock valued at $84,000 after purchasing an additional 7,952 shares in the last quarter. 76.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Citigroup raised shares of Gannett from a “sell” rating to a “neutral” rating and set a $5.10 price objective for the company in a research note on Tuesday, September 17th. JMP Securities raised Gannett to a “strong-buy” rating in a research report on Friday, August 2nd.

Gannett Price Performance

Gannett stock opened at $4.94 on Monday. The firm’s 50-day moving average is $5.31 and its two-hundred day moving average is $4.70. The company has a debt-to-equity ratio of 3.88, a current ratio of 0.79 and a quick ratio of 0.74. The stock has a market capitalization of $728.21 million, a P/E ratio of -6.10 and a beta of 2.51. Gannett Co., Inc. has a 12-month low of $1.80 and a 12-month high of $5.93.

About Gannett

Gannett Co, Inc operates as a media and marketing solutions company in the United States. It operates through three segments: Domestic Gannett Media, Newsquest, and Digital Marketing Solutions. The company's print offerings includes home delivery on a subscription basis; single copy; non-daily publications, such as shoppers and niche publications.