Gannett Co., Inc. (NYSE:GCI) Shares Sold by Marshall Wace LLP

Marshall Wace LLP trimmed its holdings in Gannett Co., Inc. (NYSE:GCI) by 10.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,019,282 shares of the company’s stock after selling 113,660 shares during the period. Marshall Wace LLP’s holdings in Gannett were worth $5,158,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Portolan Capital Management LLC bought a new position in shares of Gannett in the 4th quarter worth about $2,889,000. ExodusPoint Capital Management LP boosted its stake in Gannett by 1,166.8% in the fourth quarter. ExodusPoint Capital Management LP now owns 370,875 shares of the company’s stock valued at $1,877,000 after acquiring an additional 341,598 shares during the period. Norges Bank acquired a new position in Gannett in the fourth quarter valued at approximately $1,364,000. Teacher Retirement System of Texas grew its holdings in shares of Gannett by 446.8% during the fourth quarter. Teacher Retirement System of Texas now owns 307,778 shares of the company’s stock valued at $1,557,000 after purchasing an additional 251,496 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Gannett by 17.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,551,020 shares of the company’s stock worth $7,848,000 after purchasing an additional 233,420 shares during the period. 76.71% of the stock is currently owned by hedge funds and other institutional investors.

Gannett Trading Down 0.9 %

Shares of GCI stock opened at $3.43 on Friday. The stock has a 50-day simple moving average of $3.35 and a 200 day simple moving average of $4.52. The stock has a market capitalization of $502.28 million, a P/E ratio of -6.35 and a beta of 2.21. Gannett Co., Inc. has a fifty-two week low of $2.35 and a fifty-two week high of $5.93. The company has a quick ratio of 0.74, a current ratio of 0.78 and a debt-to-equity ratio of 6.59.

Gannett (NYSE:GCI) last released its earnings results on Thursday, February 20th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.10. Gannett had a positive return on equity of 11.40% and a negative net margin of 1.05%. The company had revenue of $621.28 million for the quarter, compared to analysts’ expectations of $635.09 million.

Analyst Ratings Changes

Separately, JMP Securities reaffirmed a “market outperform” rating and issued a $6.00 target price on shares of Gannett in a research report on Monday, January 27th.

Gannett Company Profile

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.