Connor Clark & Lunn Investment Management Ltd. Grows Stock Holdings in Gannett Co., Inc. (NYSE:GCI)

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Gannett Co., Inc. (NYSE:GCI) by 18.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 139,957 shares of the company’s stock after buying an additional 21,919 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.09% of Gannett worth $708,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Virtue Capital Management LLC lifted its stake in shares of Gannett by 1.3% during the 3rd quarter. Virtue Capital Management LLC now owns 174,793 shares of the company’s stock valued at $982,000 after buying an additional 2,258 shares in the last quarter. Cambiar Investors LLC lifted its stake in shares of Gannett by 27.2% during the 4th quarter. Cambiar Investors LLC now owns 13,558 shares of the company’s stock valued at $69,000 after buying an additional 2,898 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Gannett by 30.1% during the 4th quarter. Bleakley Financial Group LLC now owns 22,368 shares of the company’s stock valued at $113,000 after buying an additional 5,170 shares in the last quarter. Pingora Partners LLC lifted its stake in shares of Gannett by 5.4% during the 3rd quarter. Pingora Partners LLC now owns 109,787 shares of the company’s stock valued at $617,000 after buying an additional 5,600 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Gannett by 8.5% during the 4th quarter. Principal Financial Group Inc. now owns 86,345 shares of the company’s stock valued at $437,000 after buying an additional 6,760 shares in the last quarter. Hedge funds and other institutional investors own 76.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JMP Securities restated a “market outperform” rating and set a $6.00 target price on shares of Gannett in a research note on Monday, January 27th.

Gannett Stock Down 3.0 %

Shares of GCI stock opened at $3.05 on Friday. The stock has a market cap of $448.74 million, a P/E ratio of -5.64 and a beta of 2.48. Gannett Co., Inc. has a 52 week low of $2.14 and a 52 week high of $5.93. The company has a quick ratio of 0.74, a current ratio of 0.78 and a debt-to-equity ratio of 6.59. The company’s fifty day simple moving average is $4.24 and its two-hundred day simple moving average is $4.89.

Gannett (NYSE:GCI) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.10. The business had revenue of $621.28 million for the quarter, compared to analysts’ expectations of $635.09 million. Gannett had a negative net margin of 1.05% and a positive return on equity of 11.40%.

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.