Atria Wealth Solutions Inc. decreased its holdings in shares of Gannett Co., Inc. (NYSE:GCI – Free Report) by 60.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,777 shares of the company’s stock after selling 22,837 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Gannett were worth $33,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Citigroup Inc. increased its position in Gannett by 6.0% during the 1st quarter. Citigroup Inc. now owns 137,891 shares of the company’s stock worth $622,000 after purchasing an additional 7,813 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Gannett by 23.5% during the first quarter. MetLife Investment Management LLC now owns 61,241 shares of the company’s stock worth $276,000 after buying an additional 11,648 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Gannett by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 122,701 shares of the company’s stock worth $553,000 after buying an additional 15,129 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Gannett by 161.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 577,000 shares of the company’s stock valued at $2,602,000 after acquiring an additional 356,000 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Gannett by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 9,886,438 shares of the company’s stock valued at $44,587,000 after acquiring an additional 610,260 shares in the last quarter. Institutional investors own 72.52% of the company’s stock.
Insider Transactions at Gannett
In related news, CEO Michael Reed acquired 60,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was acquired at an average cost of $2.01 per share, for a total transaction of $120,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,304,323 shares of the company’s stock, valued at approximately $6,641,689.23. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.30% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Gannett Trading Down 4.7 %
GCI opened at $1.83 on Thursday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.83 and a quick ratio of 0.77. Gannett Co., Inc. has a fifty-two week low of $1.62 and a fifty-two week high of $3.60. The company’s 50 day moving average price is $2.40 and its two-hundred day moving average price is $2.44. The firm has a market capitalization of $272.45 million, a price-to-earnings ratio of 14.08 and a beta of 2.45.
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.
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