Cubist Systematic Strategies LLC Sells 313,954 Shares of Gannett Co., Inc. (NYSE:GCI)

Cubist Systematic Strategies LLC reduced its position in Gannett Co., Inc. (NYSE:GCI - Free Report) by 85.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,066 shares of the company's stock after selling 313,954 shares during the quarter. Cubist Systematic Strategies LLC's holdings in Gannett were worth $263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aquatic Capital Management LLC bought a new position in shares of Gannett during the fourth quarter worth $35,000. Quantbot Technologies LP bought a new position in shares of Gannett during the fourth quarter worth $51,000. Ieq Capital LLC purchased a new stake in Gannett during the fourth quarter valued at $54,000. Xponance Inc. purchased a new stake in Gannett during the fourth quarter valued at $56,000. Finally, Straightline Group LLC purchased a new stake in Gannett during the fourth quarter valued at $56,000. Institutional investors own 76.71% of the company's stock.

Insider Activity

In other news, CEO Michael Reed bought 27,000 shares of Gannett stock in a transaction dated Monday, May 5th. The shares were acquired at an average price of $3.25 per share, with a total value of $87,750.00. Following the completion of the purchase, the chief executive officer now owns 3,134,722 shares in the company, valued at $10,187,846.50. The trade was a 0.87% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.70% of the company's stock.

Analyst Ratings Changes

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

Gannett Price Performance

Gannett stock traded up $0.03 during mid-day trading on Friday, reaching $3.44. 742,170 shares of the company's stock traded hands, compared to its average volume of 1,479,541. The company has a market cap of $504.33 million, a price-to-earnings ratio of -6.38 and a beta of 2.67. The stock has a 50 day moving average of $3.22 and a two-hundred day moving average of $4.23. 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 Co., Inc. has a 12-month low of $2.55 and a 12-month high of $5.93.

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