Geode Capital Management LLC Sells 200,055 Shares of Gannett Co., Inc. (NYSE:GCI)

Geode Capital Management LLC trimmed its holdings in shares of Gannett Co., Inc. (NYSE:GCI - Free Report) by 6.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 3,042,280 shares of the company's stock after selling 200,055 shares during the period. Geode Capital Management LLC owned approximately 2.06% of Gannett worth $17,101,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in GCI. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Gannett during the third quarter worth $45,000. nVerses Capital LLC bought a new stake in shares of Gannett in the 3rd quarter worth about $55,000. Dark Forest Capital Management LP acquired a new stake in shares of Gannett during the 2nd quarter worth about $57,000. PEAK6 Investments LLC bought a new position in Gannett during the 3rd quarter valued at about $57,000. Finally, Sei Investments Co. acquired a new position in Gannett in the second quarter valued at about $64,000. 76.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, 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 report on Tuesday, September 17th.

Gannett Price Performance

Shares of GCI stock traded down $0.03 during trading hours on Monday, hitting $4.95. 728,314 shares of the company's stock were exchanged, compared to its average volume of 1,211,246. Gannett Co., Inc. has a 52 week low of $1.95 and a 52 week high of $5.93. The stock has a market cap of $729.68 million, a price-to-earnings ratio of -6.11 and a beta of 2.55. 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's 50-day moving average is $5.26 and its 200-day moving average is $5.03.

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.