State of Wyoming Acquires 86,350 Shares of Gannett Co., Inc. (NYSE:GCI)

State of Wyoming lifted its stake in Gannett Co., Inc. (NYSE:GCI - Free Report) by 67.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 215,272 shares of the company's stock after acquiring an additional 86,350 shares during the quarter. State of Wyoming owned 0.15% of Gannett worth $1,089,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Miller Value Partners LLC increased its stake in shares of Gannett by 74.8% in the 4th quarter. Miller Value Partners LLC now owns 2,396,625 shares of the company's stock worth $12,127,000 after purchasing an additional 1,025,190 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Gannett by 68.5% in the fourth quarter. Nuveen Asset Management LLC now owns 2,431,937 shares of the company's stock worth $12,306,000 after buying an additional 988,990 shares in the last quarter. Portolan Capital Management LLC purchased a new stake in Gannett in the 4th quarter worth $2,889,000. ExodusPoint Capital Management LP boosted its stake in Gannett by 1,166.8% during the fourth quarter. ExodusPoint Capital Management LP now owns 370,875 shares of the company's stock valued at $1,877,000 after buying an additional 341,598 shares during the last quarter. Finally, Norges Bank purchased a new position in Gannett during the 4th quarter valued at approximately $1,364,000. Hedge funds and other institutional investors own 76.71% of the company's stock.

Gannett Trading Up 1.7%

Shares of NYSE GCI opened at $3.60 on Friday. Gannett Co., Inc. has a 1-year low of $2.55 and a 1-year high of $5.93. The company has a debt-to-equity ratio of 6.59, a current ratio of 0.78 and a quick ratio of 0.74. The business's 50 day moving average is $3.18 and its two-hundred day moving average is $4.28. The stock has a market capitalization of $527.17 million, a P/E ratio of -6.67 and a beta of 2.67.

Gannett (NYSE:GCI - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.09) earnings per share (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 company had revenue of $571.57 million during the quarter, compared to the consensus estimate of $592.97 million.

Insider Activity at Gannett

In other Gannett news, CEO Michael Reed bought 27,000 shares of the business's stock in a transaction dated Monday, May 5th. The shares were purchased 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 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 legal filing with the SEC, which is available at the SEC website. 4.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.

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