Cibc World Markets Corp Invests $67,000 in Gannett Co., Inc. (NYSE:GCI)

Cibc World Markets Corp purchased a new stake in shares of Gannett Co., Inc. (NYSE:GCI) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 13,283 shares of the company’s stock, valued at approximately $67,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Gannett in the third quarter worth $1,302,000. State Street Corp increased its holdings in Gannett by 3.0% in the 3rd quarter. State Street Corp now owns 4,058,266 shares of the company’s stock worth $22,807,000 after buying an additional 116,716 shares in the last quarter. Barclays PLC raised its position in Gannett by 341.9% in the 3rd quarter. Barclays PLC now owns 218,056 shares of the company’s stock worth $1,224,000 after buying an additional 168,711 shares during the last quarter. Ritholtz Wealth Management lifted its stake in Gannett by 11.9% during the 4th quarter. Ritholtz Wealth Management now owns 97,067 shares of the company’s stock valued at $491,000 after acquiring an additional 10,332 shares during the period. Finally, Caprock Group LLC boosted its holdings in shares of Gannett by 55.6% during the 4th quarter. Caprock Group LLC now owns 35,769 shares of the company’s stock valued at $181,000 after acquiring an additional 12,788 shares during the last quarter. 76.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Gannett Stock Performance

Shares of GCI opened at $3.06 on Friday. The firm has a market capitalization of $450.21 million, a P/E ratio of -5.66 and a beta of 2.48. The company has a debt-to-equity ratio of 6.59, a current ratio of 0.78 and a quick ratio of 0.74. Gannett Co., Inc. has a one year low of $2.24 and a one year high of $5.93. The business has a fifty day moving average of $4.09 and a 200 day moving average of $4.84.

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

Gannett Company 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.