Millennium Management LLC Purchases 177,446 Shares of Gannett Co., Inc. (NYSE:GCI)

Millennium Management LLC raised its holdings in shares of Gannett Co., Inc. (NYSE:GCI - Free Report) by 18.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,118,284 shares of the company's stock after acquiring an additional 177,446 shares during the period. Millennium Management LLC owned approximately 0.76% of Gannett worth $5,155,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GCI. Troluce Capital Advisors LLC bought a new stake in shares of Gannett during the 2nd quarter valued at $8,659,000. D. E. Shaw & Co. Inc. grew its holdings in shares of Gannett by 28.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 5,174,914 shares of the company's stock valued at $23,856,000 after buying an additional 1,149,459 shares during the period. Apollo Management Holdings L.P. grew its holdings in shares of 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. GSA Capital Partners LLP grew its holdings in shares of 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 buying an additional 557,079 shares during the period. Finally, Murchinson Ltd. acquired a new position in shares of Gannett in the 2nd quarter valued at $1,585,000. Institutional investors own 76.71% of the company's stock.

Gannett Stock Up 1.5 %

NYSE GCI traded up $0.08 on Friday, reaching $5.39. The company had a trading volume of 2,134,025 shares, compared to its average volume of 1,224,444. The firm has a market capitalization of $795.28 million, a price-to-earnings ratio of -6.20 and a beta of 2.49. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.75 and a current ratio of 0.79. Gannett Co., Inc. has a 1-year low of $1.66 and a 1-year high of $5.93. The company's fifty day moving average is $5.04 and its 200-day moving average is $4.17.

Gannett (NYSE:GCI - Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, topping 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 firm had revenue of $639.84 million during the quarter.

Analyst Ratings Changes

Several equities analysts have 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 shares of Gannett from a "sell" rating to a "neutral" rating and set a $5.10 price target for the company in a report on Tuesday, September 17th.

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.