Miller Value Partners LLC Boosts Stock Position in Gannett Co., Inc. (NYSE:GCI)

Miller Value Partners LLC grew its stake in Gannett Co., Inc. (NYSE:GCI - Free Report) by 74.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,396,625 shares of the company's stock after buying an additional 1,025,190 shares during the period. Gannett accounts for about 5.2% of Miller Value Partners LLC's holdings, making the stock its 6th biggest holding. Miller Value Partners LLC owned 1.63% of Gannett worth $12,127,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in GCI. Barclays PLC increased its stake in shares of Gannett by 341.9% in the third quarter. Barclays PLC now owns 218,056 shares of the company's stock valued at $1,224,000 after buying an additional 168,711 shares during the period. Principal Financial Group Inc. increased its stake in shares of Gannett by 471.8% in the third quarter. Principal Financial Group Inc. now owns 79,585 shares of the company's stock valued at $447,000 after buying an additional 65,667 shares during the period. Ritholtz Wealth Management increased its stake in shares of Gannett by 11.9% in the fourth quarter. Ritholtz Wealth Management now owns 97,067 shares of the company's stock valued at $491,000 after buying an additional 10,332 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Gannett in the fourth quarter valued at about $108,000. Finally, Caprock Group LLC increased its stake in shares of 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 buying an additional 12,788 shares during the period. Institutional investors and hedge funds own 76.71% of the company's stock.

Gannett Trading Down 3.5 %

NYSE GCI traded down $0.12 during trading hours on Wednesday, hitting $3.29. 424,938 shares of the company's stock were exchanged, compared to its average volume of 1,458,397. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 6.59. Gannett Co., Inc. has a 1-year low of $2.35 and a 1-year high of $5.93. The stock has a 50-day simple moving average of $3.27 and a 200 day simple moving average of $4.47. The firm has a market cap of $481.77 million, a price-to-earnings ratio of -6.09 and a beta of 2.21.

Gannett (NYSE:GCI - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.10. Gannett had a positive return on equity of 11.40% and a negative net margin of 1.05%. The firm had revenue of $621.28 million during the quarter, compared to analysts' expectations of $635.09 million.

Analyst Ratings Changes

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

About Gannett

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.