Principal Financial Group Inc. Has $1.71 Million Stock Position in Gannett Co., Inc. (NYSE:GCI)

Principal Financial Group Inc. cut its position in shares of Gannett Co., Inc. (NYSE:GCI) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 913,891 shares of the company’s stock after selling 18,149 shares during the quarter. Principal Financial Group Inc. owned approximately 0.61% of Gannett worth $1,709,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Squarepoint Ops LLC boosted its holdings in Gannett by 15.8% during the fourth quarter. Squarepoint Ops LLC now owns 30,180 shares of the company’s stock worth $61,000 after purchasing an additional 4,122 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Gannett by 25.0% during the third quarter. Public Employees Retirement System of Ohio now owns 24,992 shares of the company’s stock worth $38,000 after purchasing an additional 4,992 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Gannett by 149.9% during the first quarter. Captrust Financial Advisors now owns 9,438 shares of the company’s stock worth $43,000 after purchasing an additional 5,661 shares during the last quarter. Balyasny Asset Management LLC boosted its holdings in Gannett by 33.4% during the third quarter. Balyasny Asset Management LLC now owns 24,106 shares of the company’s stock worth $37,000 after purchasing an additional 6,038 shares during the last quarter. Finally, Amalgamated Bank boosted its holdings in Gannett by 10.7% during the first quarter. Amalgamated Bank now owns 65,599 shares of the company’s stock worth $123,000 after purchasing an additional 6,333 shares during the last quarter. 72.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Gannett news, CEO Michael Reed purchased 80,000 shares of the stock in a transaction dated Monday, August 14th. The shares were bought at an average price of $3.29 per share, with a total value of $263,200.00. Following the completion of the transaction, the chief executive officer now directly owns 3,244,323 shares in the company, valued at approximately $10,673,822.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.30% of the company’s stock.

Gannett Stock Performance

Shares of GCI stock opened at $2.95 on Tuesday. The firm has a market cap of $439.76 million, a price-to-earnings ratio of -12.29 and a beta of 2.41. The company has a debt-to-equity ratio of 3.23, a quick ratio of 0.81 and a current ratio of 0.87. Gannett Co., Inc. has a 52 week low of $1.25 and a 52 week high of $3.60. The firm’s 50-day simple moving average is $2.78 and its two-hundred day simple moving average is $2.34.

Gannett (NYSE:GCI) last announced its quarterly earnings data on Thursday, August 3rd. The company reported ($0.04) EPS for the quarter. The company had revenue of $672.36 million during the quarter. Gannett had a positive return on equity of 32.31% and a negative net margin of 0.85%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Gannett from a “buy” rating to a “hold” rating in a research report on Tuesday, August 29th.

Gannett Company Profile

Gannett Co, Inc operates as a media and marketing solutions company in the United States. It operates through two segments, Gannett Media and Digital Marketing Solutions. The company's principal products include 218 daily print media with total paid circulation of approximately 1.6 million and Sunday circulation of 4.1 million; 175 weekly print media; and 266 locally-focused websites.