Charles Schwab Investment Management Inc. Sells 252,789 Shares of Gannett Co., Inc. $GCI

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in Gannett Co., Inc. by 12.7%, selling 252,789 shares, and now owns 1.19% of the company, valued at approximately $5,040,000.
• Other significant investors like Deutsche Bank AG and Nuveen Asset Management LLC substantially increased their stakes in Gannett during recent quarters, indicating heightened interest in the company.
• Gannett's recent financial performance showed a surprising EPS of $0.45, exceeding expectations, despite revenue falling short of analysts' estimates at $584.86 million.

Charles Schwab Investment Management Inc. lessened its holdings in shares of Gannett Co., Inc. (NYSE:GCI - Free Report) by 12.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,743,801 shares of the company's stock after selling 252,789 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.19% of Gannett worth $5,040,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of GCI. Aquatic Capital Management LLC acquired a new position in Gannett during the fourth quarter worth approximately $35,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Gannett during the first quarter worth approximately $67,000. CANADA LIFE ASSURANCE Co acquired a new position in Gannett during the fourth quarter worth approximately $75,000. Dark Forest Capital Management LP acquired a new position in Gannett during the fourth quarter worth approximately $96,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Gannett during the fourth quarter worth approximately $125,000. Institutional investors and hedge funds own 76.71% of the company's stock.

Gannett Stock Performance

NYSE GCI traded up $0.02 during trading on Monday, reaching $4.12. 1,246,575 shares of the company's stock were exchanged, compared to its average volume of 1,704,922. The business has a 50 day moving average price of $3.86 and a 200-day moving average price of $3.58. The stock has a market capitalization of $603.34 million, a P/E ratio of 12.10 and a beta of 2.64. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.73 and a quick ratio of 0.70. Gannett Co., Inc. has a fifty-two week low of $2.55 and a fifty-two week high of $5.93.

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

Gannett 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.