Shah Capital Management Decreases Stock Holdings in Gannett Co., Inc. (NYSE:GCI)

Shah Capital Management cut its stake in Gannett Co., Inc. (NYSE:GCI - Free Report) by 14.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,800,000 shares of the company's stock after selling 300,000 shares during the period. Gannett accounts for about 1.8% of Shah Capital Management's portfolio, making the stock its 12th largest position. Shah Capital Management owned about 1.22% of Gannett worth $8,298,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Rhumbline Advisers increased its holdings in shares of 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 period. Price T Rowe Associates Inc. MD increased its holdings in Gannett by 9.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 88,368 shares of the company's stock worth $216,000 after buying an additional 7,732 shares during the period. Simplicity Wealth LLC increased its holdings in Gannett by 77.9% in the 2nd quarter. Simplicity Wealth LLC now owns 18,166 shares of the company's stock worth $84,000 after buying an additional 7,952 shares during the period. Cambiar Investors LLC purchased a new position in Gannett during the 2nd quarter worth approximately $49,000. Finally, Focus Financial Network Inc. ADV acquired a new stake in Gannett during the 4th quarter valued at approximately $25,000. Hedge funds and other institutional investors own 76.71% of the company's stock.

Gannett Stock Performance

Shares of GCI traded up $0.15 during trading hours on Wednesday, hitting $5.62. The stock had a trading volume of 3,579,664 shares, compared to its average volume of 1,198,923. The firm has a market capitalization of $828.48 million, a price-to-earnings ratio of -6.76 and a beta of 2.48. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.75 and a current ratio of 0.79. The firm has a 50-day moving average price of $4.77 and a 200 day moving average price of $3.75. Gannett Co., Inc. has a fifty-two week low of $1.66 and a fifty-two week high of $5.93.

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

Analyst Ratings Changes

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

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.