BNP Paribas Financial Markets Makes New Investment in Gannett Co., Inc. (NYSE:GCI)

BNP Paribas Financial Markets acquired a new position in shares of Gannett Co., Inc. (NYSE:GCI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 151,881 shares of the company’s stock, valued at approximately $769,000. BNP Paribas Financial Markets owned 0.10% of Gannett as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cambiar Investors LLC increased its holdings in shares of Gannett by 27.2% during the fourth quarter. Cambiar Investors LLC now owns 13,558 shares of the company’s stock worth $69,000 after purchasing an additional 2,898 shares during the period. Legal & General Group Plc grew its position in Gannett by 3.6% during the fourth quarter. Legal & General Group Plc now owns 134,429 shares of the company’s stock worth $680,000 after buying an additional 4,710 shares in the last quarter. Bleakley Financial Group LLC increased its stake in Gannett by 30.1% during the 4th quarter. Bleakley Financial Group LLC now owns 22,368 shares of the company’s stock worth $113,000 after acquiring an additional 5,170 shares during the period. Principal Financial Group Inc. raised its holdings in Gannett by 8.5% in the 4th quarter. Principal Financial Group Inc. now owns 86,345 shares of the company’s stock valued at $437,000 after acquiring an additional 6,760 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in shares of Gannett during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 76.71% of the company’s stock.

Gannett Stock Performance

Shares of NYSE:GCI opened at $3.42 on Friday. Gannett Co., Inc. has a 1 year low of $2.55 and a 1 year high of $5.93. The stock has a market capitalization of $500.81 million, a price-to-earnings ratio of -6.33 and a beta of 2.67. The company has a debt-to-equity ratio of 6.59, a current ratio of 0.78 and a quick ratio of 0.74. The company’s 50 day simple moving average is $3.22 and its 200 day simple moving average is $4.24.

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

Insiders Place Their Bets

In related news, CEO Michael Reed bought 27,000 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were purchased at an average price of $3.25 per share, with a total value of $87,750.00. Following the completion of the purchase, the chief executive officer now owns 3,134,722 shares in the company, valued at $10,187,846.50. This represents a 0.87% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 4.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JMP Securities restated a “market outperform” rating and issued a $6.00 price target 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.