Tenzing Global Management LLC Makes New $1.69 Million Investment in Gannett Co., Inc. (NYSE:GCI)

Tenzing Global Management LLC acquired a new stake in shares of Gannett Co., Inc. (NYSE:GCI - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 300,000 shares of the company's stock, valued at approximately $1,686,000. Gannett makes up 1.2% of Tenzing Global Management LLC's investment portfolio, making the stock its 16th biggest position. Tenzing Global Management LLC owned 0.20% of Gannett as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in GCI. Renaissance Technologies LLC raised its position in shares of Gannett by 16.1% during the second quarter. Renaissance Technologies LLC now owns 1,072,024 shares of the company's stock worth $4,942,000 after acquiring an additional 148,524 shares during the last quarter. Troluce Capital Advisors LLC bought a new position in Gannett during the second quarter worth about $8,659,000. Hanseatic Management Services Inc. increased its stake in shares of Gannett by 9,629.6% in the 3rd quarter. Hanseatic Management Services Inc. now owns 178,928 shares of the company's stock valued at $1,006,000 after acquiring an additional 177,089 shares during the last quarter. Squarepoint Ops LLC raised its position in shares of Gannett by 1,200.4% in the 2nd quarter. Squarepoint Ops LLC now owns 254,545 shares of the company's stock valued at $1,173,000 after acquiring an additional 234,971 shares during the period. Finally, Murchinson Ltd. acquired a new position in Gannett during the second quarter valued at approximately $1,585,000. Institutional investors own 76.71% of the company's stock.

Wall Street Analyst Weigh In

Separately, Citigroup raised shares of Gannett from a "sell" rating to a "neutral" rating and set a $5.10 price objective on the stock in a research report on Tuesday, September 17th.

Gannett Stock Up 1.5 %

NYSE GCI traded up $0.08 during trading hours on Friday, hitting $5.28. 180,396 shares of the company traded hands, compared to its average volume of 1,213,258. The stock has a market capitalization of $778.32 million, a price-to-earnings ratio of -6.43 and a beta of 2.55. Gannett Co., Inc. has a twelve month low of $1.86 and a twelve month high of $5.93. The business's 50-day moving average is $5.36 and its 200-day moving average is $4.86. The company has a debt-to-equity ratio of 3.88, a quick ratio of 0.74 and a current ratio of 0.79.

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.