Portolan Capital Management LLC Takes Position in Gannett Co., Inc. (NYSE:GCI)

Portolan Capital Management LLC purchased a new position in shares of Gannett Co., Inc. (NYSE:GCI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 570,973 shares of the company's stock, valued at approximately $2,889,000. Portolan Capital Management LLC owned approximately 0.39% of Gannett as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GCI. FMR LLC lifted its holdings in Gannett by 150.3% during the third quarter. FMR LLC now owns 82,389 shares of the company's stock worth $463,000 after acquiring an additional 49,479 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Gannett during the third quarter worth about $1,302,000. Janus Henderson Group PLC bought a new position in shares of Gannett during the 3rd quarter valued at about $334,000. State Street Corp grew its position in shares of Gannett by 3.0% in the 3rd quarter. State Street Corp now owns 4,058,266 shares of the company's stock valued at $22,807,000 after purchasing an additional 116,716 shares during the period. Finally, Barclays PLC increased its stake 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 purchasing an additional 168,711 shares in the last quarter. Institutional investors and hedge funds own 76.71% of the company's stock.

Wall Street Analyst Weigh In

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

Gannett Stock Up 19.7 %

Shares of GCI traded up $0.58 during midday trading on Friday, hitting $3.54. The stock had a trading volume of 5,953,572 shares, compared to its average volume of 1,441,809. The firm has a market cap of $522.13 million, a price-to-earnings ratio of -6.56 and a beta of 2.21. The company has a 50 day simple moving average of $3.46 and a two-hundred day simple moving average of $4.56. Gannett Co., Inc. has a twelve month low of $2.35 and a twelve month 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.

Gannett (NYSE:GCI - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.07 earnings per share (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 business had revenue of $621.28 million for the quarter, compared to analyst estimates of $635.09 million.

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.