Millennium Management LLC Sells 146,672 Shares of Gannett Co., Inc. (NYSE:GCI)

Millennium Management LLC lessened its position in Gannett Co., Inc. (NYSE:GCI - Free Report) by 26.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 398,424 shares of the company's stock after selling 146,672 shares during the quarter. Millennium Management LLC owned about 0.27% of Gannett worth $2,016,000 as of its most recent SEC filing.

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

Gannett Trading Up 1.4%

Shares of GCI stock traded up $0.05 on Thursday, reaching $3.55. 1,491,346 shares of the stock were exchanged, compared to its average volume of 1,477,225. Gannett Co., Inc. has a 1-year low of $2.55 and a 1-year high of $5.93. The stock has a market cap of $519.55 million, a P/E ratio of -6.57 and a beta of 2.67. 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 firm has a 50 day moving average of $3.30 and a two-hundred day moving average of $4.12.

Gannett (NYSE:GCI - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). Gannett had a positive return on equity of 11.40% and a negative net margin of 1.05%. The firm had revenue of $571.57 million during the quarter, compared to analyst estimates of $592.97 million.

Insiders Place Their Bets

In other Gannett news, CEO Michael Reed bought 27,000 shares of the stock in a transaction that occurred on 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 directly 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 through the SEC website. 4.20% of the stock is currently owned by company insiders.

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.