Lonestar Capital Management LLC Trims Stake in Gannett Co., Inc. (NYSE:GCI)

Lonestar Capital Management LLC reduced its holdings in Gannett Co., Inc. (NYSE:GCI - Free Report) by 18.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,200,439 shares of the company's stock after selling 265,000 shares during the quarter. Gannett accounts for about 2.2% of Lonestar Capital Management LLC's investment portfolio, making the stock its 9th largest holding. Lonestar Capital Management LLC owned about 0.81% of Gannett worth $6,074,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GCI. Barclays PLC boosted its position in Gannett by 341.9% during the 3rd quarter. Barclays PLC now owns 218,056 shares of the company's stock worth $1,224,000 after acquiring an additional 168,711 shares during the last quarter. Caprock Group LLC boosted its holdings in Gannett by 55.6% during the fourth quarter. Caprock Group LLC now owns 35,769 shares of the company's stock worth $181,000 after purchasing an additional 12,788 shares during the last quarter. Ritholtz Wealth Management grew its position in 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 purchasing an additional 10,332 shares in the last quarter. Principal Financial Group Inc. increased its stake in Gannett by 471.8% in the 3rd 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 last quarter. Finally, Franklin Resources Inc. lifted its position in Gannett by 46.8% during the 4th quarter. Franklin Resources Inc. now owns 159,695 shares of the company's stock worth $808,000 after buying an additional 50,885 shares in the last quarter. 76.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Gannett Price Performance

NYSE:GCI traded down $0.10 on Thursday, hitting $3.11. The company had a trading volume of 3,074,836 shares, compared to its average volume of 1,478,447. Gannett Co., Inc. has a 52 week low of $2.03 and a 52 week high of $5.93. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 6.59. The stock has a market capitalization of $454.68 million, a price-to-earnings ratio of -5.75 and a beta of 2.21. The firm has a 50 day moving average of $3.23 and a two-hundred day moving average of $4.44.

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

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.