Canada Pension Plan Investment Board Sells 98,000 Shares of Gannett Co., Inc. (NYSE:GCI)

Canada Pension Plan Investment Board decreased its holdings in Gannett Co., Inc. (NYSE:GCI - Free Report) by 36.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 170,000 shares of the company's stock after selling 98,000 shares during the quarter. Canada Pension Plan Investment Board owned 0.12% of Gannett worth $860,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Cambiar Investors LLC increased its position in Gannett by 27.2% during the fourth quarter. Cambiar Investors LLC now owns 13,558 shares of the company's stock valued at $69,000 after acquiring an additional 2,898 shares during the last quarter. Legal & General Group Plc raised its holdings in Gannett by 3.6% in the 4th 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 lifted its position in Gannett by 30.1% during the fourth quarter. Bleakley Financial Group LLC now owns 22,368 shares of the company's stock valued at $113,000 after purchasing an additional 5,170 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Gannett by 8.5% during the fourth 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 during the period. Finally, Quantbot Technologies LP purchased a new stake in Gannett in the fourth quarter worth about $51,000. Institutional investors own 76.71% of the company's stock.

Gannett Price Performance

NYSE GCI traded down $0.20 during trading on Wednesday, hitting $3.21. 2,222,222 shares of the stock traded hands, compared to its average volume of 1,468,899. The company has a market capitalization of $470.06 million, a P/E ratio of -5.94 and a beta of 2.21. Gannett Co., Inc. has a 12-month low of $2.37 and a 12-month high of $5.93. The firm has a 50-day simple moving average of $3.25 and a 200-day simple moving average of $4.46. 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 - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.10. Gannett had a positive return on equity of 11.40% and a negative net margin of 1.05%. The company had revenue of $621.28 million during the quarter, compared to analyst estimates of $635.09 million.

Wall Street Analyst Weigh In

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

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.