Algert Global LLC Acquires 195,150 Shares of Gannett Co., Inc. (NYSE:GCI)

Algert Global LLC lifted its holdings in Gannett Co., Inc. (NYSE:GCI) by 349.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 251,050 shares of the company’s stock after acquiring an additional 195,150 shares during the period. Algert Global LLC owned 0.17% of Gannett worth $1,270,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Gannett by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 8,093,262 shares of the company’s stock worth $40,952,000 after purchasing an additional 82,094 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Gannett by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,968,839 shares of the company’s stock worth $25,141,000 after acquiring an additional 215,965 shares during the last quarter. Miller Value Partners LLC increased its holdings in Gannett by 74.8% in the 4th quarter. Miller Value Partners LLC now owns 2,396,625 shares of the company’s stock valued at $12,127,000 after acquiring an additional 1,025,190 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Gannett by 17.7% in 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 in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Gannett by 13.7% during the 4th quarter. Northern Trust Corp now owns 1,421,230 shares of the company’s stock valued at $7,191,000 after purchasing an additional 171,563 shares during the last quarter. Institutional investors own 76.71% of the company’s stock.

Wall Street Analyst Weigh In

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

Gannett Price Performance

Gannett stock opened at $3.71 on Friday. Gannett Co., Inc. has a 52-week low of $2.55 and a 52-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. The firm’s fifty day moving average is $3.16 and its 200 day moving average is $4.35. The company has a market cap of $543.28 million, a price-to-earnings ratio of -6.87 and a beta of 2.67.

Gannett (NYSE:GCI) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). Gannett had a negative net margin of 1.05% and a positive return on equity of 11.40%. The business had revenue of $571.57 million during the quarter, compared to the consensus estimate of $592.97 million.

Insider Transactions at Gannett

In other news, CEO Michael Reed acquired 27,000 shares of the company’s stock in a transaction on Monday, May 5th. The stock was bought at an average cost of $3.25 per share, with a total value of $87,750.00. Following the completion of the purchase, the chief executive officer now directly owns 3,134,722 shares of the company’s stock, valued at $10,187,846.50. This represents a 0.87 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.70% of the company’s stock.

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.