Acadian Asset Management LLC Lowers Position in Gannett Co., Inc. (NYSE:GCI)

Acadian Asset Management LLC decreased its position in Gannett Co., Inc. (NYSE:GCI - Free Report) by 9.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,269,962 shares of the company's stock after selling 248,282 shares during the period. Acadian Asset Management LLC owned 1.54% of Gannett worth $10,462,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers grew its stake in Gannett by 1.5% in the second quarter. Rhumbline Advisers now owns 231,252 shares of the company's stock valued at $1,066,000 after purchasing an additional 3,333 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Gannett by 9.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 88,368 shares of the company's stock valued at $216,000 after acquiring an additional 7,732 shares during the last quarter. Simplicity Wealth LLC boosted its stake in Gannett by 77.9% in the second quarter. Simplicity Wealth LLC now owns 18,166 shares of the company's stock valued at $84,000 after acquiring an additional 7,952 shares in the last quarter. Cambiar Investors LLC purchased a new position in Gannett in the second quarter worth $49,000. Finally, Focus Financial Network Inc. ADV acquired a new position in shares of Gannett during the fourth quarter worth $25,000. 76.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. JMP Securities raised Gannett to a "strong-buy" rating in a research report on Friday, August 2nd. Citigroup downgraded shares of Gannett from a "neutral" rating to a "sell" rating and set a $5.10 price objective on the stock. in a report on Wednesday, August 28th.

Gannett Stock Performance

GCI traded up $0.03 on Wednesday, reaching $4.28. 1,344,037 shares of the stock were exchanged, compared to its average volume of 1,163,652. The company has a debt-to-equity ratio of 3.83, a current ratio of 0.79 and a quick ratio of 0.75. The company's 50-day moving average price is $4.77 and its 200 day moving average price is $3.66. The firm has a market capitalization of $631.73 million, a PE ratio of -4.92 and a beta of 2.48. Gannett Co., Inc. has a fifty-two week low of $1.66 and a fifty-two week high of $5.91.

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

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.