Franklin Resources Inc. Buys 50,885 Shares of Gannett Co., Inc. (NYSE:GCI)

Franklin Resources Inc. increased its stake in Gannett Co., Inc. (NYSE:GCI) by 46.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 159,695 shares of the company’s stock after buying an additional 50,885 shares during the quarter. Franklin Resources Inc. owned about 0.11% of Gannett worth $808,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new position in shares of Gannett during the fourth quarter valued at approximately $51,000. Ieq Capital LLC purchased a new position in Gannett during the 4th quarter valued at $54,000. Xponance Inc. purchased a new stake in Gannett in the fourth quarter worth $56,000. Cibc World Markets Corp bought a new stake in shares of Gannett during the fourth quarter worth $67,000. Finally, Cambiar Investors LLC boosted its stake in shares of Gannett by 27.2% during the fourth quarter. Cambiar Investors LLC now owns 13,558 shares of the company’s stock valued at $69,000 after purchasing an additional 2,898 shares during the period. 76.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, JMP Securities reiterated a “market outperform” rating and set a $6.00 price objective on shares of Gannett in a report on Monday, January 27th.

Gannett Stock Up 3.5 %

Shares of NYSE:GCI opened at $2.98 on Thursday. The business’s 50 day moving average is $3.51 and its 200 day moving average is $4.60. The stock has a market cap of $439.16 million, a P/E ratio of -5.52 and a beta of 2.21. Gannett Co., Inc. has a 52-week low of $2.35 and a 52-week high of $5.93. The company has a quick ratio of 0.74, a current ratio of 0.78 and a debt-to-equity ratio of 6.59.

Gannett (NYSE:GCI) last issued its earnings results on Thursday, February 20th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.10. The company had revenue of $621.28 million for the quarter, compared to analysts’ expectations of $635.09 million. Gannett had a negative net margin of 1.05% and a positive return on equity of 11.40%.

About Gannett

Gannett Co, Inc operates as a media and marketing solutions company in the United States. It operates through three segments: Domestic Gannett Media, Newsquest, and Digital Marketing Solutions. The company's print offerings includes home delivery on a subscription basis; single copy; non-daily publications, such as shoppers and niche publications.