Gannett Co., Inc. (NYSE:GCI) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC lessened its stake in shares of Gannett Co., Inc. (NYSE:GCI - Free Report) by 93.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,981 shares of the company's stock after selling 163,222 shares during the period. Verition Fund Management LLC's holdings in Gannett were worth $62,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GCI. Troluce Capital Advisors LLC acquired a new position in shares of Gannett in the 2nd quarter valued at $8,659,000. D. E. Shaw & Co. Inc. raised its holdings in Gannett by 28.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 5,174,914 shares of the company's stock worth $23,856,000 after purchasing an additional 1,149,459 shares during the period. Murchinson Ltd. purchased a new position in Gannett during the second quarter worth approximately $2,536,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Gannett in the third quarter valued at approximately $1,489,000. Finally, Cubist Systematic Strategies LLC grew its holdings in Gannett by 36,203.8% in the second quarter. Cubist Systematic Strategies LLC now owns 259,935 shares of the company's stock valued at $1,198,000 after purchasing an additional 259,219 shares during the period. Institutional investors and hedge funds own 76.71% of the company's stock.

Analyst Ratings Changes

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

Gannett Price Performance

GCI stock traded down $0.47 during trading on Wednesday, hitting $5.05. The stock had a trading volume of 609,005 shares, compared to its average volume of 1,216,773. The company's 50-day moving average price is $5.34 and its two-hundred day moving average price is $4.97. Gannett Co., Inc. has a twelve month low of $1.95 and a twelve month high of $5.93. The stock has a market capitalization of $744.43 million, a P/E ratio of -6.23 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.

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.