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Murchinson Ltd. Acquires 120,000 Shares of Gannett Co., Inc. $GCI

Gannett logo with Business Services background

Key Points

  • Murchinson Ltd. increased its holdings in Gannett Co., Inc. by 26.7% in Q1, now owning 570,000 shares worth approximately $1.65 million.
  • In total, 76.71% of Gannett's stock is currently owned by institutional investors and hedge funds, indicating strong institutional interest in the company.
  • Gannett reported earnings of $0.45 per share for the last quarter, outperforming analysts' expectations, despite revenues falling short of estimates at $584.86 million.
  • Five stocks to consider instead of Gannett.

Murchinson Ltd. grew its position in Gannett Co., Inc. (NYSE:GCI - Free Report) by 26.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 570,000 shares of the company's stock after buying an additional 120,000 shares during the period. Murchinson Ltd. owned 0.39% of Gannett worth $1,647,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GCI. Cambiar Investors LLC boosted its position in shares of Gannett by 26.1% in the 1st quarter. Cambiar Investors LLC now owns 17,103 shares of the company's stock worth $49,000 after purchasing an additional 3,545 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Gannett in the 1st quarter worth $67,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Gannett in the 4th quarter worth $125,000. Aigen Investment Management LP boosted its position in shares of Gannett by 188.3% in the 1st quarter. Aigen Investment Management LP now owns 44,578 shares of the company's stock worth $129,000 after purchasing an additional 29,116 shares during the last quarter. Finally, Teza Capital Management LLC bought a new position in shares of Gannett in the 4th quarter worth $182,000. 76.71% of the stock is owned by institutional investors and hedge funds.

Gannett Trading Up 3.0%

GCI stock traded up $0.13 during midday trading on Thursday, hitting $4.23. 234,961 shares of the company's stock were exchanged, compared to its average volume of 1,570,653. The stock's fifty day moving average price is $3.95 and its 200-day moving average price is $3.57. 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 company has a market cap of $619.47 million, a PE ratio of 12.43 and a beta of 2.64. Gannett Co., Inc. has a one year low of $2.55 and a one year high of $5.93.

Gannett (NYSE:GCI - Get Free Report) last posted 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. The firm had revenue of $584.86 million for the quarter, compared to analyst estimates of $593.13 million. Gannett had a return on equity of 53.24% and a net margin of 4.84%.

Gannett Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Gannett (NYSE:GCI)

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