Bank of New York Mellon Corp Reduces Position in Gannett Co., Inc. (NYSE:GCI)

Bank of New York Mellon Corp lessened its stake in Gannett Co., Inc. (NYSE:GCI - Free Report) by 30.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 432,208 shares of the company's stock after selling 189,042 shares during the quarter. Bank of New York Mellon Corp owned about 0.29% of Gannett worth $2,187,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GCI. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Gannett in the 3rd quarter valued at about $45,000. Ieq Capital LLC acquired a new position in Gannett in the fourth quarter valued at approximately $54,000. PEAK6 Investments LLC purchased a new position in Gannett in the third quarter worth approximately $57,000. Paloma Partners Management Co acquired a new stake in Gannett during the third quarter worth $66,000. Finally, Cambiar Investors LLC grew its holdings in shares of Gannett by 27.2% during the 4th quarter. Cambiar Investors LLC now owns 13,558 shares of the company's stock worth $69,000 after purchasing an additional 2,898 shares during the period. Hedge funds and other institutional investors own 76.71% of the company's stock.

Analyst Ratings Changes

Separately, JMP Securities restated a "market outperform" rating and issued a $6.00 price objective on shares of Gannett in a report on Monday, January 27th.

Gannett Trading Down 1.0 %

NYSE:GCI traded down $0.03 during trading hours on Tuesday, reaching $3.12. 996,466 shares of the stock were exchanged, compared to its average volume of 1,304,943. Gannett Co., Inc. has a twelve month low of $2.21 and a twelve month high of $5.93. The business has a 50-day moving average of $4.20 and a two-hundred day moving average of $4.88. The company has a market capitalization of $459.79 million, a price-to-earnings ratio of -5.78 and a beta of 2.48. The company has a quick ratio of 0.74, a current ratio of 0.78 and a debt-to-equity ratio of 6.59.

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Gannett (NYSE:GCI - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.10. The firm had revenue of $621.28 million for the quarter, compared to analyst estimates of $635.09 million. Gannett had a positive return on equity of 11.40% and a negative net margin of 1.05%.

Gannett 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.