Gannett Co., Inc. (NYSE:GCI) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC increased its stake in shares of Gannett Co., Inc. (NYSE:GCI - Free Report) by 16.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,072,024 shares of the company's stock after purchasing an additional 148,524 shares during the period. Renaissance Technologies LLC owned 0.73% of Gannett worth $4,942,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Apollo Management Holdings L.P. raised its holdings in Gannett by 6.1% in the 1st quarter. Apollo Management Holdings L.P. now owns 12,292,642 shares of the company's stock valued at $29,994,000 after buying an additional 703,617 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Gannett by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,979,617 shares of the company's stock worth $22,954,000 after purchasing an additional 229,539 shares during the period. GSA Capital Partners LLP increased its holdings in Gannett by 103.2% in the 4th quarter. GSA Capital Partners LLP now owns 1,096,933 shares of the company's stock valued at $2,523,000 after purchasing an additional 557,079 shares during the last quarter. Empowered Funds LLC raised its position in Gannett by 8.2% in the first quarter. Empowered Funds LLC now owns 781,628 shares of the company's stock valued at $1,907,000 after purchasing an additional 59,243 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Gannett by 5.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 740,115 shares of the company's stock worth $3,412,000 after acquiring an additional 40,481 shares in the last quarter. Hedge funds and other institutional investors own 76.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GCI. Citigroup upgraded shares of Gannett from a "sell" rating to a "neutral" rating and set a $5.10 target price on the stock in a report on Tuesday, September 17th. JMP Securities upgraded shares of Gannett to a "strong-buy" rating in a report on Friday, August 2nd.

Gannett Stock Up 3.3 %

Gannett stock traded up $0.18 during mid-day trading on Friday, hitting $5.64. The company had a trading volume of 1,147,262 shares, compared to its average volume of 1,225,386. The stock has a market cap of $832.17 million, a price-to-earnings ratio of -6.48 and a beta of 2.48. The company has a quick ratio of 0.75, a current ratio of 0.79 and a debt-to-equity ratio of 3.83. Gannett Co., Inc. has a 1 year low of $1.66 and a 1 year high of $5.93. The business has a fifty day moving average of $4.89 and a 200 day moving average of $3.94.

Gannett (NYSE:GCI - Get Free Report) last announced its quarterly 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. Gannett had a negative net margin of 3.71% and a negative return on equity of 17.12%. The firm had revenue of $639.84 million for the quarter.

About Gannett

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.