Gannett Co., Inc. (NYSE:GCI) Shares Sold by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp reduced its stake in Gannett Co., Inc. by 63.1% during the 1st quarter, now holding 48,914 shares valued at approximately $141,000.
• Other institutional investors, including Vanguard Group and Nuveen Asset Management, have increased their stakes, with Nuveen raising its stake by 68.5%.
• Gannett recently reported a quarterly earnings per share of $0.45, surpassing expectations, though revenue was slightly below analyst predictions at $584.86 million.

Mackenzie Financial Corp decreased its holdings in shares of Gannett Co., Inc. (NYSE:GCI - Free Report) by 63.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,914 shares of the company's stock after selling 83,492 shares during the period. Mackenzie Financial Corp's holdings in Gannett were worth $141,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Aquatic Capital Management LLC acquired a new position in shares of Gannett during the fourth quarter worth about $35,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Gannett during the first quarter worth about $67,000. CANADA LIFE ASSURANCE Co acquired a new position in shares of Gannett during the fourth quarter worth about $75,000. Dark Forest Capital Management LP acquired a new position in shares of Gannett during the fourth quarter worth about $96,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Gannett during the fourth quarter worth about $125,000. Institutional investors and hedge funds own 76.71% of the company's stock.

Gannett Price Performance

GCI traded down $0.13 on Thursday, hitting $4.22. 403,099 shares of the company were exchanged, compared to its average volume of 1,586,944. The company has a debt-to-equity ratio of 3.89, a quick ratio of 0.70 and a current ratio of 0.73. The business's fifty day moving average is $3.70 and its 200 day moving average is $3.64. 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 $618.00 million, a P/E ratio of 12.38 and a beta of 2.62.

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

About Gannett

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.