Mackenzie Financial Corp Sells 83,492 Shares of Gannett Co., Inc. (NYSE:GCI)

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

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Gannett by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 8,093,262 shares of the company's stock valued at $40,952,000 after acquiring an additional 82,094 shares during the period. Norges Bank bought a new stake in shares of Gannett during the 4th quarter valued at $1,364,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Gannett by 16.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 247,001 shares of the company's stock valued at $1,250,000 after acquiring an additional 35,730 shares during the period. Franklin Resources Inc. lifted its position in shares of Gannett by 46.8% during the 4th quarter. Franklin Resources Inc. now owns 159,695 shares of the company's stock valued at $808,000 after acquiring an additional 50,885 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of Gannett by 26.7% during the 4th quarter. Wells Fargo & Company MN now owns 86,713 shares of the company's stock valued at $439,000 after acquiring an additional 18,290 shares during the period. 76.71% of the stock is currently owned by institutional investors.

Gannett Price Performance

Shares of NYSE:GCI traded up $0.20 during trading on Wednesday, reaching $4.31. 1,203,411 shares of the company traded hands, compared to its average volume of 1,591,258. The company's 50 day moving average is $3.69 and its two-hundred day moving average is $3.63. The firm has a market capitalization of $631.19 million, a PE ratio of 12.72 and a beta of 2.62. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 3.89. Gannett Co., Inc. has a 52 week low of $2.55 and a 52 week high of $5.93.

Gannett (NYSE:GCI - Get Free Report) last announced its quarterly earnings data 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 return on equity of 53.24% and a net margin of 4.84%. The business had revenue of $584.86 million during the quarter, compared to the consensus estimate of $593.13 million.

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.