Gannett Co., Inc. (NYSE:GCI) Stake Boosted by Northern Trust Corp

Northern Trust Corp grew its holdings in shares of Gannett Co., Inc. (NYSE:GCI - Free Report) by 13.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,421,230 shares of the company's stock after acquiring an additional 171,563 shares during the period. Northern Trust Corp owned about 0.96% of Gannett worth $7,191,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GCI. Caprock Group LLC raised its holdings in Gannett by 55.6% in the fourth quarter. Caprock Group LLC now owns 35,769 shares of the company's stock valued at $181,000 after acquiring an additional 12,788 shares in the last quarter. Ritholtz Wealth Management increased its position in shares of Gannett by 11.9% in the 4th quarter. Ritholtz Wealth Management now owns 97,067 shares of the company's stock worth $491,000 after purchasing an additional 10,332 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Gannett by 46.8% in the 4th quarter. Franklin Resources Inc. now owns 159,695 shares of the company's stock valued at $808,000 after purchasing an additional 50,885 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Gannett by 62.5% during the fourth quarter. Intech Investment Management LLC now owns 89,344 shares of the company's stock worth $452,000 after purchasing an additional 34,369 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Gannett by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 8,093,262 shares of the company's stock worth $40,952,000 after purchasing an additional 82,094 shares during the last quarter. 76.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Michael Reed purchased 27,000 shares of the company's stock in a transaction on Monday, May 5th. The shares were bought at an average price of $3.25 per share, for a total transaction of $87,750.00. Following the completion of the purchase, the chief executive officer now owns 3,134,722 shares of the company's stock, valued at $10,187,846.50. This trade represents a 0.87% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.70% of the company's stock.

Gannett Stock Performance

GCI traded up $0.03 during trading hours on Friday, hitting $3.44. 742,170 shares of the stock were exchanged, compared to its average volume of 1,478,329. The stock has a market cap of $504.33 million, a price-to-earnings ratio of -6.38 and a beta of 2.67. The stock has a 50-day simple moving average of $3.22 and a 200-day simple moving average of $4.22. The company has a debt-to-equity ratio of 6.59, a current ratio of 0.78 and a quick ratio of 0.74. 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 posted its earnings results on Thursday, May 1st. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The company had revenue of $571.57 million for the quarter, compared to the consensus estimate of $592.97 million. Gannett had a negative net margin of 1.05% and a positive return on equity of 11.40%.

Analyst Ratings Changes

Separately, JMP Securities restated a "market outperform" rating and set a $6.00 price objective on shares of Gannett in a research note on Monday, January 27th.

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.