MetLife Investment Management LLC Increases Holdings in Gannett Co., Inc. (NYSE:GCI)

MetLife Investment Management LLC raised its holdings in Gannett Co., Inc. (NYSE:GCI) by 23.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 86,418 shares of the company’s stock after buying an additional 16,389 shares during the quarter. MetLife Investment Management LLC owned about 0.06% of Gannett worth $437,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Cambiar Investors LLC boosted its holdings in Gannett by 27.2% in the fourth quarter. Cambiar Investors LLC now owns 13,558 shares of the company’s stock valued at $69,000 after acquiring an additional 2,898 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Gannett by 3.6% in the 4th quarter. Legal & General Group Plc now owns 134,429 shares of the company’s stock worth $680,000 after purchasing an additional 4,710 shares during the period. Bleakley Financial Group LLC boosted its stake in shares of Gannett by 30.1% during the 4th quarter. Bleakley Financial Group LLC now owns 22,368 shares of the company’s stock valued at $113,000 after purchasing an additional 5,170 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Gannett by 8.5% during the 4th quarter. Principal Financial Group Inc. now owns 86,345 shares of the company’s stock valued at $437,000 after purchasing an additional 6,760 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Gannett during the fourth quarter valued at about $51,000. 76.71% of the stock is owned by hedge funds and other institutional investors.

Gannett Price Performance

GCI opened at $3.17 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 6.59. The company has a market cap of $464.20 million, a price-to-earnings ratio of -5.87 and a beta of 2.67. The stock has a fifty day simple moving average of $3.18 and a two-hundred day simple moving average of $4.38. Gannett Co., Inc. has a 12-month low of $2.55 and a 12-month high of $5.93.

Gannett (NYSE:GCI) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Gannett had a positive return on equity of 11.40% and a negative net margin of 1.05%. The business had revenue of $571.57 million during the quarter, compared to the consensus estimate of $592.97 million.

Analyst Ratings Changes

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

Gannett Profile

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.