Charles Schwab Investment Management Inc. Sells 502,704 Shares of Gannett Co., Inc. (NYSE:GCI)

Charles Schwab Investment Management Inc. lessened its holdings in Gannett Co., Inc. (NYSE:GCI) by 16.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,575,732 shares of the company’s stock after selling 502,704 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Gannett were worth $14,476,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Troluce Capital Advisors LLC acquired a new stake in shares of Gannett in the second quarter valued at about $8,659,000. D. E. Shaw & Co. Inc. boosted its stake 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 purchasing an additional 1,149,459 shares during the last quarter. Murchinson Ltd. acquired a new stake in shares of Gannett during the second quarter worth $2,536,000. Cubist Systematic Strategies LLC boosted its position in Gannett by 36,203.8% during the second quarter. Cubist Systematic Strategies LLC now owns 259,935 shares of the company’s stock valued at $1,198,000 after acquiring an additional 259,219 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Gannett by 1,200.4% in the 2nd quarter. Squarepoint Ops LLC now owns 254,545 shares of the company’s stock worth $1,173,000 after acquiring an additional 234,971 shares in the last quarter. 76.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Citigroup raised shares of Gannett from a “sell” rating to a “neutral” rating and set a $5.10 price objective for the company in a research report on Tuesday, September 17th.

Gannett Stock Performance

Shares of Gannett stock opened at $5.29 on Monday. The company has a debt-to-equity ratio of 3.88, a current ratio of 0.79 and a quick ratio of 0.74. Gannett Co., Inc. has a one year low of $1.86 and a one year high of $5.93. The business has a 50-day simple moving average of $5.35 and a 200 day simple moving average of $4.90. The firm has a market capitalization of $779.80 million, a price-to-earnings ratio of -6.53 and a beta of 2.55.

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.