Nuveen Asset Management LLC Increases Stake in Gannett Co., Inc. (NYSE:GCI)

Nuveen Asset Management LLC increased its holdings in Gannett Co., Inc. (NYSE:GCI) by 68.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,431,937 shares of the company’s stock after purchasing an additional 988,990 shares during the quarter. Nuveen Asset Management LLC owned 1.65% of Gannett worth $12,306,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Miller Value Partners LLC grew its stake 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 buying an additional 1,025,190 shares during the last quarter. Portolan Capital Management LLC purchased a new stake in Gannett during the 4th quarter valued at about $2,889,000. ExodusPoint Capital Management LP grew its position in Gannett by 1,166.8% during the 4th quarter. ExodusPoint Capital Management LP now owns 370,875 shares of the company’s stock worth $1,877,000 after acquiring an additional 341,598 shares during the last quarter. Norges Bank purchased a new position in Gannett in the 4th quarter worth approximately $1,364,000. Finally, Deutsche Bank AG increased its stake in Gannett by 350.6% in the 4th quarter. Deutsche Bank AG now owns 339,125 shares of the company’s stock worth $1,716,000 after purchasing an additional 263,867 shares during the period. Hedge funds and other institutional investors own 76.71% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Gannett news, CEO Michael Reed bought 27,000 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The stock was bought at an average price of $3.25 per share, for a total transaction of $87,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,134,722 shares in the company, valued at $10,187,846.50. The trade was a 0.87% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.70% of the company’s stock.

Gannett Price Performance

Shares of Gannett stock opened at $3.44 on Tuesday. The company’s fifty day simple moving average is $3.23 and its two-hundred day simple moving average is $4.20. Gannett Co., Inc. has a 12-month low of $2.55 and a 12-month high of $5.93. The firm has a market cap of $504.33 million, a PE ratio of -6.38 and a beta of 2.67. 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 posted 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). 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.

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.