Murchinson Ltd. Takes $1.59 Million Position in Gannett Co., Inc. (NYSE:GCI)

Murchinson Ltd. purchased a new stake in Gannett Co., Inc. (NYSE:GCI - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 343,750 shares of the company's stock, valued at approximately $1,585,000. Gannett accounts for 0.3% of Murchinson Ltd.'s investment portfolio, making the stock its 26th biggest position. Murchinson Ltd. owned 0.23% of Gannett at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GCI. Apollo Management Holdings L.P. grew its holdings in Gannett by 34.8% during the fourth quarter. Apollo Management Holdings L.P. now owns 11,589,025 shares of the company's stock worth $26,655,000 after purchasing an additional 2,994,806 shares during the period. GSA Capital Partners LLP boosted its stake in shares of Gannett by 103.2% during the 4th quarter. GSA Capital Partners LLP now owns 1,096,933 shares of the company's stock worth $2,523,000 after acquiring an additional 557,079 shares during the period. Dimensional Fund Advisors LP raised its stake in Gannett by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,979,617 shares of the company's stock valued at $22,954,000 after acquiring an additional 229,539 shares during the period. FourWorld Capital Management LLC acquired a new stake in Gannett during the 1st quarter valued at $488,000. Finally, Kennedy Capital Management LLC bought a new position in Gannett during the first quarter worth $394,000. 76.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GCI shares. JMP Securities raised shares of Gannett to a "strong-buy" rating in a research report on Friday, August 2nd. Citigroup upgraded shares of Gannett from a "sell" rating to a "neutral" rating and set a $5.10 price objective for the company in a research report on Tuesday, September 17th.

Gannett Stock Performance

NYSE:GCI traded up $0.22 during mid-day trading on Tuesday, reaching $5.59. 375,710 shares of the company's stock were exchanged, compared to its average volume of 1,218,669. Gannett Co., Inc. has a one year low of $1.66 and a one year high of $5.93. 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 business's fifty day simple moving average is $4.83 and its two-hundred day simple moving average is $3.85. The firm has a market capitalization of $824.79 million, a PE ratio of -6.29 and a beta of 2.48.

Gannett (NYSE:GCI - Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported $0.19 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.25. The company 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.