Bank of New York Mellon Corp acquired a new position in Gannett Co Inc (NYSE:GCI) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,355,646 shares of the company’s stock, valued at approximately $1,870,000. Bank of New York Mellon Corp owned 0.99% of Gannett at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Everence Capital Management Inc. bought a new position in Gannett in the 2nd quarter worth approximately $132,000. Wealthcare Advisory Partners LLC bought a new stake in shares of Gannett during the 2nd quarter valued at about $25,000. Gilman Hill Asset Management LLC bought a new stake in shares of Gannett during the 2nd quarter valued at about $26,000. Commonwealth Equity Services LLC bought a new stake in shares of Gannett during the 2nd quarter valued at about $27,000. Finally, ProShare Advisors LLC bought a new stake in shares of Gannett during the 2nd quarter valued at about $28,000. 61.76% of the stock is owned by institutional investors.

GCI opened at $1.26 on Monday. The firm has a market cap of $171.74 million, a P/E ratio of -0.24 and a beta of 1.55. Gannett Co Inc has a 1-year low of $0.63 and a 1-year high of $9.44. The company has a 50 day simple moving average of $1.67 and a two-hundred day simple moving average of $1.55. The company has a debt-to-equity ratio of 3.62, a current ratio of 1.04 and a quick ratio of 0.97.

Gannett (NYSE:GCI) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.28) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.28. The business had revenue of $767.00 million during the quarter, compared to analyst estimates of $744.02 million. Gannett had a negative net margin of 22.59% and a negative return on equity of 0.15%. Equities analysts anticipate that Gannett Co Inc will post -1.49 earnings per share for the current year.

In related news, Director Laurence Tarica bought 74,559 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was purchased at an average price of $1.64 per share, for a total transaction of $122,276.76. Following the completion of the transaction, the director now owns 500,499 shares in the company, valued at $820,818.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

GCI has been the topic of a number of research reports. ValuEngine raised shares of Gannett from a “hold” rating to a “buy” rating in a research note on Wednesday, July 8th. Zacks Investment Research raised shares of Gannett from a “sell” rating to a “buy” rating and set a $2.00 target price on the stock in a research note on Tuesday, September 1st.

About Gannett

Gannett Co, Inc operates as a media and marketing solutions company. The company operates through Publishing and ReachLocal segments. It offers print and digital daily and non-daily publications under the USA TODAY NETWORK brand name in the United States; and Newsquest, which has print and online publications portfolio of approximately 150 news brands and 150 magazines in the United Kingdom.

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Institutional Ownership by Quarter for Gannett (NYSE:GCI)

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