550,000 Shares in Gannett Co., Inc. (NYSE:GCI) Bought by Murchinson Ltd.

Murchinson Ltd. bought a new stake in Gannett Co., Inc. (NYSE:GCI - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 550,000 shares of the company's stock, valued at approximately $2,536,000. Gannett comprises about 0.4% of Murchinson Ltd.'s investment portfolio, making the stock its 27th biggest position. Murchinson Ltd. owned approximately 0.37% of Gannett at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cambiar Investors LLC bought a new position in Gannett during the 2nd quarter worth approximately $49,000. Focus Financial Network Inc. ADV bought a new position in Gannett during the 4th quarter worth approximately $25,000. Dark Forest Capital Management LP bought a new position in Gannett in the second quarter valued at approximately $57,000. Sei Investments Co. bought a new position in Gannett in the second quarter valued at approximately $64,000. Finally, Simplicity Wealth LLC lifted 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 buying an additional 7,952 shares in the last quarter. Institutional investors own 76.71% of the company's stock.

Analysts Set New Price Targets

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

Gannett Stock Up 3.3 %

Shares of NYSE GCI traded up $0.18 during midday trading on Friday, reaching $5.64. The company's stock had a trading volume of 1,147,262 shares, compared to its average volume of 1,225,386. The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 3.83. Gannett Co., Inc. has a fifty-two week low of $1.66 and a fifty-two week high of $5.93. The stock has a market capitalization of $832.17 million, a price-to-earnings ratio of -6.48 and a beta of 2.48. The stock has a 50 day simple moving average of $4.89 and a 200-day simple moving average of $3.95.

Gannett (NYSE:GCI - Get Free Report) last posted 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. Gannett had a negative net margin of 3.71% and a negative return on equity of 17.12%. The company 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.