Mackenzie Financial Corp Purchases 76,472 Shares of Gannett Co., Inc. (NYSE:GCI)

Mackenzie Financial Corp boosted its position in Gannett Co., Inc. (NYSE:GCI - Free Report) by 136.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,406 shares of the company's stock after buying an additional 76,472 shares during the period. Mackenzie Financial Corp owned approximately 0.09% of Gannett worth $670,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GCI. Aquatic Capital Management LLC purchased a new stake in shares of Gannett during the fourth quarter worth $35,000. Quantbot Technologies LP purchased a new stake in Gannett in the fourth quarter worth about $51,000. Ieq Capital LLC purchased a new position in shares of Gannett during the fourth quarter valued at approximately $54,000. Straightline Group LLC bought a new stake in shares of Gannett during the fourth quarter valued at approximately $56,000. Finally, Xponance Inc. bought a new stake in Gannett in the 4th quarter worth approximately $56,000. 76.71% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Michael Reed purchased 27,000 shares of the stock in a transaction dated Monday, May 5th. The stock was acquired at an average cost of $3.25 per share, for a total transaction of $87,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,134,722 shares in the company, valued at $10,187,846.50. This represents a 0.87% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.20% of the company's stock.

Gannett Price Performance

GCI stock traded up $0.05 during mid-day trading on Thursday, hitting $3.55. The company had a trading volume of 1,491,346 shares, compared to its average volume of 1,477,225. The company has a 50-day moving average price of $3.30 and a 200 day moving average price of $4.12. The company has a quick ratio of 0.74, a current ratio of 0.78 and a debt-to-equity ratio of 6.59. The company has a market capitalization of $519.55 million, a price-to-earnings ratio of -6.57 and a beta of 2.67. 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 issued its earnings results on Thursday, May 1st. The company reported ($0.09) earnings per share (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 analysts' expectations 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.