Russell Investments Group Ltd. Purchases 94,335 Shares of Gannett Co., Inc. (NYSE:GCI)

Russell Investments Group Ltd. lifted its stake in Gannett Co., Inc. (NYSE:GCI) by 675.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,308 shares of the company’s stock after buying an additional 94,335 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of Gannett worth $593,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Advisor Partners LLC boosted its stake in shares of Gannett by 21.2% in the first quarter. Advisor Partners LLC now owns 13,003 shares of the company’s stock valued at $70,000 after buying an additional 2,271 shares during the period. Federated Hermes Inc. bought a new stake in shares of Gannett in the first quarter valued at approximately $79,000. Mutual Advisors LLC bought a new stake in shares of Gannett in the first quarter valued at approximately $84,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Gannett in the second quarter valued at approximately $85,000. Finally, CIBC Asset Management Inc boosted its stake in shares of Gannett by 17.8% in the first quarter. CIBC Asset Management Inc now owns 16,944 shares of the company’s stock valued at $91,000 after buying an additional 2,555 shares during the period. Institutional investors and hedge funds own 62.98% of the company’s stock.

Several brokerages have commented on GCI. Zacks Investment Research upgraded shares of Gannett from a “hold” rating to a “strong-buy” rating and set a $7.00 price objective for the company in a research report on Wednesday, August 11th. Citigroup assumed coverage on shares of Gannett in a report on Thursday, June 3rd. They set a “sell” rating for the company. Finally, assumed coverage on shares of Gannett in a report on Thursday, June 3rd. They set a “sell” rating and a $3.80 price target for the company.

NYSE GCI opened at $6.72 on Thursday. The company has a market capitalization of $958.39 million, a price-to-earnings ratio of -3.17 and a beta of 2.82. Gannett Co., Inc. has a twelve month low of $1.03 and a twelve month high of $7.05. The stock has a fifty day simple moving average of $5.92 and a 200 day simple moving average of $5.45. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 2.30.

Gannett (NYSE:GCI) last issued its quarterly earnings results on Thursday, August 5th. The company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $0.46. The business had revenue of $804.28 million for the quarter, compared to analysts’ expectations of $796.20 million. Gannett had a negative net margin of 8.58% and a negative return on equity of 9.65%. During the same quarter in the prior year, the firm posted ($3.32) earnings per share. Research analysts expect that Gannett Co., Inc. will post 0.55 earnings per share for the current fiscal year.

In other news, Director Laurence Tarica purchased 26,000 shares of the business’s stock in a transaction on Tuesday, September 14th. The shares were acquired at an average price of $6.42 per share, with a total value of $166,920.00. Following the completion of the transaction, the director now owns 550,263 shares of the company’s stock, valued at approximately $3,532,688.46. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Gannett Company Profile

Gannett Media Corp. provided media and marketing solutions. The company was headquartered in McLean, VA.

Further Reading: S&P/ASX 200 Index

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Institutional Ownership by Quarter for Gannett (NYSE:GCI)

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