Balyasny Asset Management L.P. Takes $376,000 Position in Gannett Co., Inc. (NYSE:GCI)

Balyasny Asset Management L.P. acquired a new stake in Gannett Co., Inc. (NYSE:GCI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 74,262 shares of the company's stock, valued at approximately $376,000. Balyasny Asset Management L.P. owned 0.05% of Gannett at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Cambiar Investors LLC lifted its position in shares of Gannett by 27.2% in the fourth quarter. Cambiar Investors LLC now owns 13,558 shares of the company's stock valued at $69,000 after buying an additional 2,898 shares during the last quarter. Legal & General Group Plc lifted 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 purchasing an additional 4,710 shares during the period. Bleakley Financial Group LLC boosted its position in shares of 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 in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of 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 purchasing an additional 6,760 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new position in Gannett in the fourth quarter valued at about $35,000. Institutional investors own 76.71% of the company's stock.

Insider Buying and Selling

In other Gannett news, CEO Michael Reed bought 27,000 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was bought at an average cost of $3.25 per share, with a total value 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 approximately $10,187,846.50. The trade was a 0.87% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 4.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, JMP Securities reiterated a "market outperform" rating and issued a $6.00 price objective on shares of Gannett in a report on Monday, January 27th.

Gannett Stock Down 1.3%

Shares of GCI stock traded down $0.05 on Thursday, reaching $3.45. 148,886 shares of the company were exchanged, compared to its average volume of 1,471,774. 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 has a 50-day moving average of $3.21 and a 200-day moving average of $4.25. The company has a market cap of $504.47 million, a price-to-earnings ratio of -6.38 and a beta of 2.67. Gannett Co., Inc. has a one year low of $2.55 and a one year high of $5.93.

Gannett (NYSE:GCI - Get Free Report) last posted its quarterly 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 positive return on equity of 11.40% and a negative net margin of 1.05%. The firm had revenue of $571.57 million for the quarter, compared to analyst estimates of $592.97 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.