Panagora Asset Management Inc. Sells 418,536 Shares of Gannett Co., Inc. (NYSE:GCI)

Panagora Asset Management Inc. trimmed its stake in Gannett Co., Inc. (NYSE:GCI - Free Report) by 91.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,790 shares of the company's stock after selling 418,536 shares during the period. Panagora Asset Management Inc.'s holdings in Gannett were worth $170,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Apollo Management Holdings L.P. boosted its holdings in shares of Gannett by 6.1% in the 1st quarter. Apollo Management Holdings L.P. now owns 12,292,642 shares of the company's stock worth $29,994,000 after acquiring an additional 703,617 shares in the last quarter. GSA Capital Partners LLP boosted its stake in Gannett by 103.2% in the fourth quarter. GSA Capital Partners LLP now owns 1,096,933 shares of the company's stock worth $2,523,000 after purchasing an additional 557,079 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Gannett by 8.2% during the first quarter. Empowered Funds LLC now owns 781,628 shares of the company's stock worth $1,907,000 after purchasing an additional 59,243 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Gannett by 5.8% in the second quarter. Bank of New York Mellon Corp now owns 740,115 shares of the company's stock valued at $3,412,000 after buying an additional 40,481 shares in the last quarter. Finally, Silverberg Bernstein Capital Management LLC raised its holdings in shares of Gannett by 2.8% in the second quarter. Silverberg Bernstein Capital Management LLC now owns 510,866 shares of the company's stock valued at $2,355,000 after buying an additional 14,105 shares during the last quarter. 76.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GCI shares. JMP Securities raised shares of Gannett to a "strong-buy" rating in a research note on Friday, August 2nd. Citigroup cut shares of Gannett from a "neutral" rating to a "sell" rating and set a $5.10 price objective for the company. in a research report on Wednesday, August 28th.

Gannett Trading Down 1.6 %

Gannett stock traded down $0.08 during trading hours on Thursday, reaching $4.79. 1,535,575 shares of the company's stock traded hands, compared to its average volume of 1,147,731. The firm has a market capitalization of $706.75 million, a price-to-earnings ratio of -5.51 and a beta of 2.50. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.75 and a current ratio of 0.79. Gannett Co., Inc. has a fifty-two week low of $1.66 and a fifty-two week high of $5.91. The firm's 50 day moving average is $4.79 and its 200-day moving average is $3.60.

Gannett (NYSE:GCI - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.25. The firm had revenue of $639.84 million for the quarter. Gannett had a negative net margin of 3.71% and a negative return on equity of 17.12%.

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.