Northern Trust Corp Raises Holdings in Gannett Co., Inc. (NYSE:GCI)

Northern Trust Corp increased its stake in shares of Gannett Co., Inc. (NYSE:GCI) by 13.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,421,230 shares of the company’s stock after purchasing an additional 171,563 shares during the quarter. Northern Trust Corp owned approximately 0.96% of Gannett worth $7,191,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aquatic Capital Management LLC acquired a new position in Gannett in the fourth quarter valued at approximately $35,000. Susquehanna Fundamental Investments LLC purchased a new stake in Gannett during the 4th quarter worth approximately $490,000. Miller Value Partners LLC raised its holdings in shares of Gannett by 74.8% during the fourth quarter. Miller Value Partners LLC now owns 2,396,625 shares of the company’s stock valued at $12,127,000 after acquiring an additional 1,025,190 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Gannett by 10.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 103,042 shares of the company’s stock worth $522,000 after acquiring an additional 9,417 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in Gannett in the 4th quarter valued at $96,000. Hedge funds and other institutional investors own 76.71% of the company’s stock.

Insider Activity

In other Gannett news, CEO Michael Reed acquired 27,000 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was acquired at an average cost of $3.25 per share, with a total value of $87,750.00. Following the purchase, the chief executive officer now directly owns 3,134,722 shares in the company, valued at approximately $10,187,846.50. This trade represents a 0.87% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders own 4.70% of the company’s stock.

Analysts Set New Price Targets

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

Gannett Stock Performance

Shares of Gannett stock opened at $3.51 on Tuesday. Gannett Co., Inc. has a one year low of $2.55 and a one year high of $5.93. The business has a 50-day simple moving average of $3.19 and a 200-day simple moving average of $4.26. The company has a market cap of $513.99 million, a PE ratio of -6.50 and a beta of 2.67. The company has a debt-to-equity ratio of 6.59, a quick ratio of 0.74 and a current ratio of 0.78.

Gannett (NYSE:GCI) last issued its 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). The company had revenue of $571.57 million during the quarter, compared to analyst estimates of $592.97 million. Gannett had a negative net margin of 1.05% and a positive return on equity of 11.40%.

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.