Norges Bank Takes Position in Gannett Co., Inc. (NYSE:GCI)

Norges Bank purchased a new position in shares of Gannett Co., Inc. (NYSE:GCI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 269,500 shares of the company's stock, valued at approximately $1,364,000. Norges Bank owned 0.18% of Gannett at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Gannett by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 8,093,262 shares of the company's stock worth $40,952,000 after acquiring an additional 82,094 shares in the last quarter. State Street Corp boosted its stake in shares of Gannett by 3.0% in the third quarter. State Street Corp now owns 4,058,266 shares of the company's stock valued at $22,807,000 after purchasing an additional 116,716 shares during the period. Empowered Funds LLC grew its holdings in Gannett by 5.1% during the 4th quarter. Empowered Funds LLC now owns 932,992 shares of the company's stock valued at $4,721,000 after purchasing an additional 45,546 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Gannett by 446.8% during the 4th quarter. Teacher Retirement System of Texas now owns 307,778 shares of the company's stock worth $1,557,000 after buying an additional 251,496 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Gannett by 15.1% in the 4th quarter. American Century Companies Inc. now owns 301,927 shares of the company's stock worth $1,528,000 after buying an additional 39,693 shares in the last quarter. 76.71% of the stock is currently owned by institutional investors and hedge funds.

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Gannett Stock Up 1.9 %

Shares of NYSE:GCI traded up $0.06 during midday trading on Tuesday, reaching $2.90. The company had a trading volume of 1,470,641 shares, compared to its average volume of 1,418,667. Gannett Co., Inc. has a one year low of $2.26 and a one year high of $5.93. The company has a debt-to-equity ratio of 6.59, a current ratio of 0.78 and a quick ratio of 0.74. The stock has a market capitalization of $426.63 million, a P/E ratio of -5.36 and a beta of 2.21. The stock's fifty day moving average price is $3.58 and its 200-day moving average price is $4.63.

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

Analyst Ratings Changes

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

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.