Corebridge Financial Inc. Sells 5,327 Shares of Gannett Co., Inc. (NYSE:GCI)

Corebridge Financial Inc. reduced its holdings in Gannett Co., Inc. (NYSE:GCI) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 70,569 shares of the company’s stock after selling 5,327 shares during the quarter. Corebridge Financial Inc.’s holdings in Gannett were worth $357,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in GCI. Quantbot Technologies LP acquired a new stake in Gannett in the 4th quarter valued at approximately $51,000. Ieq Capital LLC bought a new stake in shares of Gannett in the fourth quarter valued at approximately $54,000. Xponance Inc. acquired a new stake in shares of Gannett in the fourth quarter worth $56,000. Cibc World Markets Corp bought a new position in Gannett during the fourth quarter worth $67,000. Finally, Cambiar Investors LLC raised its stake in 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 purchasing an additional 2,898 shares during the last quarter. 76.71% of the stock is currently owned by institutional investors.

Gannett Trading Up 11.7 %

GCI opened at $2.95 on Thursday. Gannett Co., Inc. has a 1-year low of $2.26 and a 1-year high of $5.93. The firm has a 50-day moving average price of $3.68 and a two-hundred day moving average price of $4.69. The stock has a market capitalization of $434.74 million, a PE ratio of -5.46 and a beta of 2.21. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 6.59.

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

Analyst Upgrades and Downgrades

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

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.