Gannett Co., Inc. (NYSE:GCI) Shares Purchased by BlackRock Inc.

BlackRock Inc. raised its position in shares of Gannett Co., Inc. (NYSE:GCI) by 2.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,788,955 shares of the company’s stock after buying an additional 600,424 shares during the quarter. BlackRock Inc. owned about 0.15% of Gannett worth $119,620,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Mutual of America Capital Management LLC raised its stake in Gannett by 9.1% during the second quarter. Mutual of America Capital Management LLC now owns 19,247 shares of the company’s stock valued at $106,000 after buying an additional 1,608 shares in the last quarter. Texas Permanent School Fund raised its position in shares of Gannett by 2.2% during the 2nd quarter. Texas Permanent School Fund now owns 100,890 shares of the company’s stock worth $554,000 after purchasing an additional 2,212 shares during the period. Advisor Partners LLC raised its position in shares of Gannett by 21.2% during the 1st quarter. Advisor Partners LLC now owns 13,003 shares of the company’s stock worth $70,000 after purchasing an additional 2,271 shares during the period. CIBC Asset Management Inc raised its position in shares of Gannett by 17.8% during the 1st quarter. CIBC Asset Management Inc now owns 16,944 shares of the company’s stock worth $91,000 after purchasing an additional 2,555 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of Gannett by 119.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,509 shares of the company’s stock worth $35,000 after purchasing an additional 3,540 shares during the period. Hedge funds and other institutional investors own 62.98% of the company’s stock.

GCI opened at $6.11 on Thursday. Gannett Co., Inc. has a 12 month low of $1.03 and a 12 month high of $7.05. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.86 and a quick ratio of 0.81. The stock has a market cap of $871.39 million, a P/E ratio of -2.88 and a beta of 2.70. The stock’s 50 day moving average price is $6.30 and its 200 day moving average price is $5.55.

Gannett (NYSE:GCI) last posted its earnings results on Thursday, August 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.36) by $0.46. Gannett had a negative return on equity of 9.65% and a negative net margin of 8.58%. The firm had revenue of $804.28 million for the quarter, compared to analysts’ expectations of $796.20 million. During the same period last year, the firm earned ($3.32) EPS. Equities analysts anticipate that Gannett Co., Inc. will post 0.55 EPS for the current year.

Separately, Zacks Investment Research cut Gannett from a “strong-buy” rating to a “hold” rating in a research report on Monday.

In other Gannett news, Director Laurence Tarica bought 26,000 shares of the stock in a transaction that occurred on Tuesday, September 14th. The shares were purchased at an average cost of $6.42 per share, for a total transaction of $166,920.00. Following the transaction, the director now directly owns 550,263 shares in the company, valued at $3,532,688.46. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is owned by company insiders.

About Gannett

Gannett Media Corp. provided media and marketing solutions. The company was headquartered in McLean, VA.

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Institutional Ownership by Quarter for Gannett (NYSE:GCI)

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