Goldman Sachs Group Inc. Has $3.08 Million Stake in Gannett Co., Inc. $GCI

Goldman Sachs Group Inc. lowered its stake in shares of Gannett Co., Inc. (NYSE:GCI) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,064,830 shares of the company’s stock after selling 4,877 shares during the quarter. Goldman Sachs Group Inc. owned 0.73% of Gannett worth $3,077,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GCI. Invst LLC bought a new stake in Gannett in the 1st quarter worth approximately $1,134,000. Strs Ohio purchased a new position in shares of Gannett in the first quarter worth $187,000. Empowered Funds LLC grew its holdings in shares of Gannett by 2.0% in the first quarter. Empowered Funds LLC now owns 951,925 shares of the company’s stock worth $2,751,000 after acquiring an additional 18,933 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Gannett during the first quarter valued at about $316,000. Finally, Philosophy Capital Management LLC lifted its position in shares of Gannett by 9.9% in the first quarter. Philosophy Capital Management LLC now owns 5,885,461 shares of the company’s stock valued at $17,009,000 after acquiring an additional 528,970 shares in the last quarter. Institutional investors own 76.71% of the company’s stock.

Gannett Price Performance

NYSE:GCI opened at $4.30 on Friday. Gannett Co., Inc. has a 12 month low of $2.55 and a 12 month high of $5.91. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 3.89. The business’s 50-day moving average is $4.03 and its 200 day moving average is $3.58. The company has a market capitalization of $629.73 million, a P/E ratio of 12.63 and a beta of 2.64.

Gannett (NYSE:GCI) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.49. Gannett had a return on equity of 53.24% and a net margin of 4.84%.The company had revenue of $584.86 million for the quarter, compared to analysts’ expectations of $593.13 million.

Gannett Company 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.