D. E. Shaw & Co. Inc. Sells 94,779 Shares of Gannett Co., Inc. (NYSE:GCI)

D. E. Shaw & Co. Inc. cut its stake in shares of Gannett Co., Inc. (NYSE:GCI - Free Report) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,941,434 shares of the company's stock after selling 94,779 shares during the period. D. E. Shaw & Co. Inc. owned 4.03% of Gannett worth $30,064,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. Barclays PLC boosted its stake in shares of Gannett by 341.9% in the 3rd quarter. Barclays PLC now owns 218,056 shares of the company's stock valued at $1,224,000 after purchasing an additional 168,711 shares in the last quarter. Ritholtz Wealth Management boosted its position in Gannett by 11.9% in the fourth quarter. Ritholtz Wealth Management now owns 97,067 shares of the company's stock valued at $491,000 after buying an additional 10,332 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Gannett in the fourth quarter valued at approximately $108,000. Caprock Group LLC boosted its position in Gannett by 55.6% in the fourth quarter. Caprock Group LLC now owns 35,769 shares of the company's stock valued at $181,000 after buying an additional 12,788 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its position in Gannett by 30.1% in the fourth quarter. Bleakley Financial Group LLC now owns 22,368 shares of the company's stock valued at $113,000 after buying an additional 5,170 shares in the last quarter. 76.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, CEO Michael Reed bought 27,000 shares of Gannett stock in a transaction dated Monday, May 5th. The stock was purchased at an average cost of $3.25 per share, with a total value of $87,750.00. Following the transaction, the chief executive officer now directly owns 3,134,722 shares of the company's stock, valued at approximately $10,187,846.50. The trade was a 0.87% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.70% of the stock is currently owned by insiders.

Gannett Stock Down 1.3%

Shares of NYSE GCI traded down $0.05 during trading on Wednesday, hitting $3.66. 1,639,460 shares of the company traded hands, compared to its average volume of 1,476,624. The business's fifty day moving average is $3.17 and its 200 day moving average is $4.32. Gannett Co., Inc. has a fifty-two week low of $2.55 and a fifty-two week high of $5.93. The firm has a market capitalization of $535.96 million, a price-to-earnings ratio of -6.78 and a beta of 2.67. The company has a debt-to-equity ratio of 6.59, a quick ratio of 0.74 and a current ratio of 0.78.

Gannett (NYSE:GCI - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The business had revenue of $571.57 million for the quarter, compared to the consensus estimate of $592.97 million. Gannett had a positive return on equity of 11.40% and a negative net margin of 1.05%.

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.