Gannett Co., Inc. (NYSE:GCI) Shares Acquired by Deutsche Bank AG

Deutsche Bank AG lifted its stake in shares of Gannett Co., Inc. (NYSE:GCI) by 350.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 339,125 shares of the company’s stock after purchasing an additional 263,867 shares during the period. Deutsche Bank AG owned about 0.23% of Gannett worth $1,716,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of GCI. SG Americas Securities LLC acquired a new stake in Gannett in the 4th quarter worth about $108,000. Caprock Group LLC lifted its position in shares of Gannett by 55.6% in the fourth quarter. Caprock Group LLC now owns 35,769 shares of the company’s stock valued at $181,000 after acquiring an additional 12,788 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in shares of Gannett by 30.1% in the fourth 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 last quarter. Empowered Funds LLC increased its position in shares of Gannett by 5.1% during the fourth quarter. Empowered Funds LLC now owns 932,992 shares of the company’s stock worth $4,721,000 after purchasing an additional 45,546 shares in the last quarter. Finally, Cambiar Investors LLC increased its position 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 in the last quarter. Institutional investors and hedge funds own 76.71% of the company’s stock.

Insider Activity at Gannett

In other news, CEO Michael Reed purchased 27,000 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was acquired at an average price of $3.25 per share, for a total transaction of $87,750.00. Following the completion of the transaction, the chief executive officer now directly 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 filing with the SEC, which is available through this link. 4.70% of the stock is currently owned by insiders.

Gannett Price Performance

Shares of GCI opened at $3.44 on Friday. The company has a market cap of $504.33 million, a P/E ratio of -6.38 and a beta of 2.67. Gannett Co., Inc. has a fifty-two week low of $2.55 and a fifty-two 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. The firm’s 50 day moving average price is $3.22 and its 200 day moving average price is $4.23.

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

Wall Street Analysts Forecast Growth

Separately, JMP Securities restated a “market outperform” rating and issued a $6.00 price objective on shares of Gannett in a 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.