Gannett Co., Inc. (NYSE:GCI) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its holdings in shares of Gannett Co., Inc. (NYSE:GCIGet Rating) by 11.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,902 shares of the company’s stock after selling 12,999 shares during the quarter. State of Alaska Department of Revenue owned 0.07% of Gannett worth $149,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP increased its position in shares of Gannett by 47,426.3% during the 2nd quarter. Allworth Financial LP now owns 9,030 shares of the company’s stock worth $26,000 after purchasing an additional 9,011 shares during the last quarter. Captrust Financial Advisors grew its position in Gannett by 149.9% in the 1st quarter. Captrust Financial Advisors now owns 9,438 shares of the company’s stock valued at $43,000 after acquiring an additional 5,661 shares in the last quarter. Aveo Capital Partners LLC acquired a new position in Gannett in the 2nd quarter valued at about $29,000. Salem Investment Counselors Inc. acquired a new position in Gannett in the 1st quarter valued at about $45,000. Finally, Virtu Financial LLC acquired a new position in Gannett in the 1st quarter valued at about $48,000. 68.38% of the stock is owned by institutional investors and hedge funds.

Gannett Stock Performance

Shares of GCI opened at $2.35 on Monday. The stock has a 50-day simple moving average of $2.22 and a 200-day simple moving average of $2.19. The company has a debt-to-equity ratio of 3.55, a quick ratio of 0.72 and a current ratio of 0.78. The stock has a market capitalization of $343.32 million, a PE ratio of -2.42 and a beta of 2.48. Gannett Co., Inc. has a 1 year low of $1.25 and a 1 year high of $6.38.

Gannett (NYSE:GCIGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.35 earnings per share (EPS) for the quarter. The business had revenue of $717.90 million during the quarter. Gannett had a positive return on equity of 15.14% and a negative net margin of 4.38%.

Insider Activity

In related news, Director Laurence Tarica acquired 100,000 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The stock was acquired at an average price of $2.25 per share, for a total transaction of $225,000.00. Following the purchase, the director now owns 753,244 shares of the company’s stock, valued at approximately $1,694,799. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

GCI has been the subject of several research reports. Citigroup lifted their target price on Gannett from $1.70 to $2.10 and gave the company a “sell” rating in a research report on Thursday, November 17th. StockNews.com raised Gannett from a “sell” rating to a “hold” rating in a research report on Friday, November 4th.

Gannett Company Profile

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Gannett Co, Inc operates as a media and marketing solutions company in the United States. It operates through two segments, Publishing and Digital Marketing Solutions. The company's principal products include 230 daily print media with total paid circulation of approximately 1.9 million and Sunday circulation of 2.2 million; 249 weekly print media with total circulation of approximately 1.4 million; and 292 locally-focused websites.

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Institutional Ownership by Quarter for Gannett (NYSE:GCI)

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